Apple News & Update: Tech Giant Offers 'Trade Up With Installments' iPhone Plan

Apple has just made it easier for people to trade in their old iPhone for a much updated model for an affordable price. What makes this offer even better is the fact that you can trade in any old phone, whether it is an Android or a Windows phone.

The program, called "Trade Up With Installments," allows consumers to "put the price of a trade-in towards reducing your monthly payments for a new iPhone, with payment starting as low as $15 a month," reports Tech Crunch.

Apple Shows Off 'Trade Up With Installments' iPhone Payment Plan https://t.co/v0CPDOxrgI by @lucas_matney

— TechCrunch (@TechCrunch) February 18, 2016

The new offer comes as an addition to Apple's current iPhone upgrade plans. The current options include paying $32.41 a month, with zero interest for a 16GB iPhone 6S or $38.58 for the 16GB iPhone 6S Plus.

The installments are made for a period of 24 months, with the price including the phone, the Apple Care+ warranty program, and the option to upgrade to a newer model every year if the consumer prefers.

Of course, consumers will still have to shell out for the wireless service - but consumers have the option to select their own carrier. According to CNBC, prices can increase when consumers choose phones that have higher storage capacity.

Apple Launches ‘Trade Up With Installments’ Program, A New Way To Get An iPhone https://t.co/LWumFxOsSR pic.twitter.com/yf5t1sABVQ — Redmond Pie (@RedmondPie) February 19, 2016

"Trade Up With Installments" is a payment plan that has been combined with Apple's earlier offerings. With the new option, the amount consumers pay are dependent on the device being traded in: the phone being exchanged as well as its current condition, versus the phone that the consumer will be buying.

Furthermore, CNET reports, "the maximum trade-in values are the same as for the regular trade-in program. That's $100 for the iPhone 4 and 4S; $200 for the 5, 5C and 5S; $300 for the 6; and $350 for the 6 Plus."