7 Reasons Not to Buy the Newest iPhone

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I know that this is going to cause a lot of immediate debate, but I have never owned an iPhone, for many reasons besides personal preference. But before you respond with all the reasons why they are superior products, you should consider these 7 financial reasons not to buy the newest iPhone.

The iPhone Frenzy

Every year when Apple announces the release of its newest products, it creates a ton of internet buzz and frenzy among its customers. Everyone talks about it in anticipation and can’t wait to get theirs. Yet, within weeks of the release of the iPhone 14, people were already speculating about the upgrades in the next model.

While people are still waiting on the specifics, the company recently announced that the iPhone 15 will be available in September 2023. But before you spend hundreds of dollars on a new phone, there are several financial reasons not to buy the newest iPhone as soon as it hits the market.

7 Reasons Not to Buy the Newest iPhone

1. The price.

It’s exciting to get a brand-new phone with all the latest features, but it comes with a steep price tag. The current base model goes for $799 or $33.29 per month for two years with a trade-in. However, you will pay even more for the iPhone 14 Pro or the Pro Max. When you add in the accessories, you may end up with a bill well over $1,000.

If you think you’ll save money by choosing the latest Samsung Galaxy 23 instead, then you’ll be surprised to learn that it runs about the same price. Although, you can save hundreds of dollars by choosing other Android phones. A new iPhone isn’t the most budget-friendly option if the price is your most important consideration.

2. The previous models still function well.

While upgrades often come with significant improvements, that doesn’t automatically make previous models worthless. Although Apple has been releasing a new model every year, their older ones still function well.

For example, the iPhone 13 has an excellent camera and battery life. The iPhone 14 has all these benefits plus new safety features. As long as it isn’t damaged or malfunctioning, they will still have excellent performance and access to Apple’s services. So if you are only considering an upgrade because you want the latest tech, you can save yourself extra money and hold off buying an iPhone 15.

3. Its older models will drop in price.

There is an allure to having the newest product as soon as it’s available. However, the savings of choosing an older model is one of the best reasons not to buy the newest iPhone.

When Apple releases the newest iPhone, its older models experience a price drop. So, you can still get a new, top-quality smartphone at a significant discount. This may also allow you to get upgraded phones that had not been affordable before.

4. You can get a great price on refurbished phones.

Unfortunately, sometimes even the price drop isn’t enough for some people to get last year’s iPhone. If the price is the deciding factor for you, then you may want to look at refurbished phones.

Although you won’t be the first person to own it, you can still get a newer iPhone for only a few hundred dollars. If you buy from a certified dealer, all phones have been serviced with genuine replacement parts from Apple and inspected to ensure it is in good working condition. But if you go this route, make sure that you go through a reputable dealer.

5. There is nothing wrong with your current phone.

If you enjoy the latest tech and gadgets, it can be hard to resist the temptation to splurge on things you don’t need. But if you are living on a budget, it’s important to understand the difference between wants and needs.

Those who don’t have room in the budget for yearly upgrades should reconsider spending this much money on a new phone. This is even more important if their old one is still working perfectly. Unless you have had serious technical issues or damage to your current phone, there is no practical reason to upgrade.

6. You have paid off your last phone.

Keeping in the stream of logical thought processes, another good reason is if you have already paid off your last phone. In terms of dollars and cents, it’s wiser to use something you’ve paid off for as long as possible. Not only does this keep you out of debt, but it also ensures you get the most value out of the product.

The money you would use could be better spent elsewhere, paying down on other debt or building your savings. While it may not be a huge amount, leaving extra cash in the budget is always a smart financial move.

7. It’s better for the environment.

This last reason looks at finance on a macroeconomic scale. Electronic waste has become a huge problem in the last few decades. As technology advances, it is creating a massive amount of waste; more than 50 million metric tons of waste each year.

Furthermore, smart technology uses non-renewable resources that are difficult and expensive to recycle. Therefore, people who trade in every year are accelerating the problem. Keeping your current phone as long as possible and buying a used one is better for the environment. It’s one small way you can help make a difference.

Making the Final Decision

After extensive comparisons in reviews and pricing as well as using family members’ Apple products, I always decide against buying them. Most of them are financial reasons, not performance-related ones.

To me, it seems owning an iPhone is more of a status symbol or due to the popularity of the brand. It’s hard to justify spending that much money on a smartphone when other, older models suit my needs. There is no denying that Apple makes quality products. But unless something drastic changes within the industry, I’ll be sticking with Android for years to come.
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