Trade up with Installment
Friday brought some good news for Apple’s customers in France, Italy and Spain. As up till now Apple’s “Trade up with Installments” program was exclusive to the customers based in the United States, where it was financed by Citizens Bank with a 0% interest rate.That changed earlier this week when they announced that the Cupertino-based company will be expanding its “Trade up with Installments” program to these three European countries. This move makes sense as France, Italy and Spain are one of the largest Apple consumers outside of the United States.
Residents of these countries now have the option to Trade in their Android , Windows or an older Apple smartphone for credit that would count towards this two-year installment program. The program is not available through Apple’s online services and is set to expire on 31 August 2016. Just in time for the new line of iPhone reveal? Usually Apple announces its new iPhone around this time of the year.
“When a customer in Italy trades in a used 16GB iPhone 5s for a new 16GB iPhone SE, for example, an amount of €16.98 must be paid each month for the duration of the two-year installment plan,” explains MacRumors. “A total of €425.52 would be owed after interest rates are applied to the price.”
Exact prices may vary from country to country even though all of them use the Euro. They will also vary between different combinations. The “trade in” must also be in top notch condition as the amount paid depends on the condition of the traded smartphone. Apart from this, the program is a loan given by Apple as an intermediary, therefore, the customers will have to prove their financial credibility to qualify for the program. Apple has associated with other third party companies for this initiative. Namely, Sofinco in France, Agos Ducato in Italy and Cetelem in Spain.