Other selling an iphone leased on the iphone upgrade program?

[BeeGood]

So the bank would just go after the balance due and that's it. It seems once you lease these unlocked phones you are free to sell and people are free to buy but if you stop paying you will pay the balance on the phone? I'm also assuming checking the ESN/IMEI on a site like swappa would show this as NOT on a payment plan? I don't see the danger in purchasing one of these leased phones if this is all true.

You're not leasing the phone, you own it. Under the IPhone Upgrade Program or any other EIP, the phone is yours.

The carrier/Apple/citizens bank has no vested interest in your phone once you enter the plan. If you stop paying, they'll demand you pay them. They won't ask you to send them back your phone, because...it's *your* phone.
[doublepost=1471049289][/doublepost]

Are you sure? They had two distinct offers at the time, either a 24 month finance option, or the upgrade plan...

Yes. You are not required to upgrade at the 12 month mark. You have the option to.

The only real difference between the 12 and 24 month options is that the per-month-cost of the 12 month program is higher. This is because you are required to carry AppleCare if you wish to upgrade at 12 months.

 

[HEK]

you cant sell something you dont own.

Sure you can, it's called fraud.

 

[nrvna76]

You're not leasing the phone, you own it. Under the IPhone Upgrade Program or any other EIP, the phone is yours.

The carrier/Apple/citizens bank has no vested interest in your phone once you enter the plan. If you stop paying, they'll demand you pay them. They won't ask you to send them back your phone, because...it's *your* phone.
[doublepost=1471049289][/doublepost]

Yes. You are not required to upgrade at the 12 month mark. You have the option to.

The only real difference between the 12 and 24 month options is that the per-month-cost of the 12 month program is higher. This is because you are required to carry AppleCare if you wish to upgrade at 12 months.

This! It's not a lease, it's a finance plan with a guaranteed trade in. If you want to sell for more at the 12 mo mark you can do that too. How would they enforce a required trade in?

 

[appygirl82]

There's nothing for Apple or Citizens One to really enforce here. Like others have said, the phone is essentially yours. If you want to upgrade after the 12 mos obviously have the phone in hand and they'll start a new contract. If you don't want to, and you sell it/keep it...Citizens One just continues to charge you for it. I sold 2 of them. One loan I paid off and the other I didn't. I'll just continue to make the payments.

In Sept I'll go get the iPhone 7. I am leasing my phones through my carrier now.

 

[C DM]

There's nothing for Apple or Citizens One to really enforce here. Like others have said, the phone is essentially yours. If you want to upgrade after the 12 mos obviously have the phone in hand and they'll start a new contract. If you don't want to, and you sell it/keep it...Citizens One just continues to charge you for it. I sold 2 of them. One loan I paid off and the other I didn't. I'll just continue to make the payments.

In Sept I'll go get the iPhone 7. I am leasing my phones through my carrier now.

So not really leasing, right?

 

[HEK]

This! It's not a lease, it's a finance plan with a guaranteed trade in. If you want to sell for more at the 12 mo mark you can do that too. How would they enforce a required trade in?

The trade in is not guaranteed unless the phone is in very good condition. Not working, cracked screen, even a corner, water damaged, banged up case and no trade in. You keep it and continue to pay for it till paid in full. No they will not force you to trade it in.

 

[nrvna76]

The trade in is not guaranteed unless the phone is in very good condition. Not working, cracked screen, even a corner, water damaged, banged up case and no trade in. You keep it and continue to pay for it till paid in full. No they will not force you to trade it in.

You could just get an AppleCare replacement but that's the only other option.

 

[SisterBlue22]

Are you sure? They had two distinct offers at the time, either a 24 month finance option, or the upgrade plan...

I'm quite sure. It was one offer, with two options. Trade in your phone for a new one after making the equivalent of 12 payments, or continue payments for 24 months and own the phone outright.

Here's the link: scroll down to the very bottom of the page and read the last FAQ question:

http://www.apple.com/shop/iphone/ip...id_104710528386_&cid=wwa-us-kwgo-iphone-slid-

Screenshot attached.

 

[appygirl82]

So not really leasing, right?

I just confirmed with AT&T today that even on their NEXT program, I could sell the phone off if I wanted and just continue to make the payments. The new user has nothing to worry about (money still being owed by original user) because if I were to not pay for it, they will come after me...it wouldn't affect the phone itself.

 

[C DM]

I just confirmed with AT&T today that even on their NEXT program, I could sell the phone off if I wanted and just continue to make the payments. The new user has nothing to worry about (money still being owed by original user) because if I were to not pay for it, they will come after me...it wouldn't affect the phone itself.

Right, that is technically how it should be and likely is. That said, if they wanted to, they can likely blacklist the phone if payments aren't made (even if that's not really their expected practice)--it's not to say that it happens or would happen, just that it is a possibility.

 

[zunairsharif]

i paid off my citizensone loan and tried to sell on swappa but still shows financed
[doublepost=1513612282][/doublepost]

So the bank would just go after the balance due and that's it. It seems once you lease these unlocked phones you are free to sell and people are free to buy but if you stop paying you will pay the balance on the phone? I'm also assuming checking the ESN/IMEI on a site like swappa would show this as NOT on a payment plan? I don't see the danger in purchasing one of these leased phones if this is all true.

swappa is telling me my phone is financed eventhough i have paid off the citizensone loan

 

[archer75]

Log in to citizens one and verify it's showing as paid off.
I sold mine and transfered apple care to the new owner without issue.

 

[zunairsharif]

Log in to citizens one and verify it's showing as paid off.
I sold mine and transfered apple care to the new owner without issue.

I logged in and shows 0$ balance due any way I can get a receipt or proof of paying off ... Also how long should I wait so it refreshes the system to show paid off

 

[bsulla]

Log in to citizens one and verify it's showing as paid off.
I sold mine and transfered apple care to the new owner without issue.

Did your loan actually say "paid off" somewhere? I also paid off my loan but aside from showing a zero balance due it doesn't say anything about being paid off. In fact it still shows my next scheduled deduction (which I was told would not be processed since it was at a zero balance by Citizen One).

Also, how did you transfer the Apple Care?
[doublepost=1513625720][/doublepost]

I logged in and shows 0$ balance due any way I can get a receipt or proof of paying off ... Also how long should I wait so it refreshes the system to show paid off

FYI...I just spoke to Apple and Citizen One. Neither could confirm exactly how long it would take for the IMEI to stop showing as financed but Apple said the update would come from Citizen One, that they are unable to see/manipulate that info. Citizen One on the other hand confirmed it could take as much as 30 days before the loan is closed and any notification of that is sent. My guess is that until Citizen One closes the loan the IMEI will show as financed in online searches.

 

[archer75]

Did your loan actually say "paid off" somewhere? I also paid off my loan but aside from showing a zero balance due it doesn't say anything about being paid off. In fact it still shows my next scheduled deduction (which I was told would not be processed since it was at a zero balance by Citizen One).

Also, how did you transfer the Apple Care?
[doublepost=1513625720][/doublepost]
FYI...I just spoke to Apple and Citizen One. Neither could confirm exactly how long it would take for the IMEI to stop showing as financed but Apple said the update would come from Citizen One, that they are unable to see/manipulate that info. Citizen One on the other hand confirmed it could take as much as 30 days before the loan is closed and any notification of that is sent. My guess is that until Citizen One closes the loan the IMEI will show as financed in online searches.

It just showed $0 balance.

I emailed apple to transfer applecare. There are directions on their site. They emailed back about an hour later and it was done. It has to be done by email or phone. The apple stores can't do it.