iPhone in someones hand, money saving tips for the newest phones

Top Money Saving Tips For The Newest Phones

Your contract may be ending or you might just want a new phone, whatever the reason is, there are plenty of ways out there to help you get the best deal possible. A problem people tend to have when trying to save on the newest mobile phone is finding the best tips. But, we have tried to make that issue a little easier by finding our own below to help you get the best money-saving tips for the newest phones.

newest iphone in space grey

Trade-In your old phone

This is one of the best ways to save money on a new phone. If your current mobile phone is in good condition, there are plenty of shops which will buy it from you. The amount you receive from that phone will depend on factors including the age of it and the make of it. For example, websites like Apple have their trade-in service. You could trade in an iPhone 7 Plus and receive up to £140 in return. If the model of your iPhone is higher or lower the amount will vary. Apple tends to give you the money in a store gift voucher. Meaning, when it comes to buying a new phone, you can use that voucher for money off the total price.

Other websites like Carphone Warehouse, allow you to trade-in different models, not just those made by Apple. For example, a Samsung Galaxy S10 could be traded in for up to £250. Similarly, Mazuma is the UK’s #1 mobile phone recycling service.

So, if you trade in your phone and receive money back, you would essentially be saving for a new phone.

Don’t just stick to your usual provider

Shopping around is one of the best ways to find different deals and better prices. Not every provider is going to offer the same prices and amount, so you may find that one is cheaper than another. Similarly to this, you do not only have to look at network providers or even shops like Apple or Samsung when looking to buy a phone outright. This is because you might find a better deal when looking at sites like eBay, or other similar sites. A lot of people tend to upgrade but not need the phone so they sell it on. But, you need to be extra cautious when buying from places like that.

network provider - EE

Save money in the long-run

One of the top ways to save money when buying a new phone is to buy it outright. This may sound a little weird as you would be splurging a lot of money all in one go. But, in the long-run, it pays off. At the moment in the UK, the biggest network provider is ‘EE’. Their monthly price for an iPhone 11 pro max is around £84 per month. That amount is for a 64GB iPhone with unlimited data, calls, and texts. So, that amount equates to around £1008 a year. Some of the major network providers also tie you into their contracts for a specific length of time which is typically around 24 months. So, essentially, you are paying over £2000.

Whereas, if you buy the phone outright, there are plenty of network providers who offer deals on contracts which equate to half the price you would pay.  So, although you are paying more money in the beginning, you will be paying less in the long run.

person signing a contract

Unfortunately, there is a very low chance that you will be able to find a new phone at a low price. With phones being essential in today’s day to day life, most people like to keep up to date with technology.

But, with high prices, some people like to delay the purchasing stage until the prices lower a little bit, even if they are in desperate need of an upgrade.

Here at BingoLoans, we offer payday loans which allow you to borrow up to £1,500 and repay it with your next wage. This allows you to purchase essentials that you cannot afford at the exact moment you might need them