Free iPhone 7 with T Mobile – Limited time trade in offer

Free iPhone 7 – Offer details at a glance from t-mobile

  • Existing customers as well as new customers can avail the offer by purchasing new iPhone 7 on an Equipment Installment Plan (EIP) for 24 months.
  • Your existing iPhone must be completely paid off. This means if it was bought under an installment plan, all installments must be paid off and you should own the phone completely.
  • iPhone 6 and iPhone 6s can be traded up for iPhone 7 32GB with $0 down payment (savings of $649). For iPhone 7 Plus 32GB you have to pay $120 upfront if you want to trade with your iPhone 6 or 6s.
  • iPhone 6 Plus and iPhone 6s Plus can be traded in for iPhone 7 Plus 32GB with $0 down payment. (This is not mentioned on the website, but told by customer service representative).
  • iPhone 5, 5s or SE can be traded for an iPhone 7 32GB by paying an additional $250 upfront (Savings of $399).
  • For each next level memory variant of the iPhone, you have to pay an extra $100. e.g. to get an iPhone 7 128GB in exchange for your iPhone 6 , you will have to pay $99 upfront.
  • Currently available for pre-order as of September 10, 2016. This is a limited time offer, so it may change later.

See below chart for how much you pay upfront

You have You pay for iPhone 7 32GB You pay for iPhone 7 Plus 32GB Comments
iPhone 6, iPhone 6S $0 $120
iPhone 6 Plus, iPhone 6s Plus $0 $0 This Information is from Customer care
iPhone 5 , iPhone 5s, iPhone SE $250 $370 $250 + $120 =  $370

For additional memory variations of iPhone 7 and iPhone 7 Plus, you pay additional $100.

 

Other details of the offer and how to get your free iPhone 7

  • Taxes are due on full phone price at the time of placing order.
  • This offer only available when you trade up from your paid-off iPhone 6 or iPhone 6s (or any eligible iPhone) and purchase iPhone 7 on an Equipment Installment Plan (EIP) from t-mobile, and make your monthly payments like you do today.
  • The credits of the EIP will appear on your monthly phone bill after trade up has been completed. You will have to ship your existing iPhone to T-Mobile when the new one arrives. I have tried to explain this later with some simple calculations.
  • Over the period of 24 months, the amount you own to T mobile will be credited back in form of statement credits on your monthly phone bill.
  • If you cancel the service at any time, the remaining balance will become due. e.g. if you used the service for 12 months and then cancel, the amount remaining for 12 months will need to be paid off in full at the time of cancellation.
  • The initial value of your old iPhone as determined by t-mobile will appear as one time statement credit on your phone bill, once your trade up is complete.

A simple calculation to show how your new iPhone 7 will become free over 24 months

For the purpose of this calculation, we will assume you currently have an iPhone 6s and you want to trade it with iPhone 7 32GB. All numbers used here are for illustration purpose only. Below is how it will work:

  • Your existing iPhone value is estimated, lets say it is estimated at $200.
  • You complete the order (or pre-order) online or at store and pay taxes applicable. This tax is calculated on full amount of phone without any deductions.
  • Your new iPhone 7 arrives in mail once available with a prepaid shipping label to return your old iPhone. Your card will be charged once the order ships.
  • You take complete backup of your phone and ship it to t mobile using the prepaid shipping label. Make sure to take your complete backup and restore it on your new phone.
  • Once t mobile receives and evaluates your old phone, trade up is complete.
  • Now you will receive a one time statement credit for the value of old phone as determined by t-mobile. This may be lower than the value as estimated initially (if order placed at store). Let us assume its $200 as estimated.
  • Now the amount that you actually owe to t-mobile is $649 – $200 = $449 . Split over 24 months , the amount per month should be $18.70 but see below for actual amounts.
  • As per the initial arrangement, the value of iPhone 7 32GB was $649 and split over 24 month, it will be approx $27 per month. This is the amount which will appear on your phone bill as Equipment Installment Plan (EIP) installment amount. This same amount will also appear as credit on your bill (although it may be a couple of billing cycles later). This arrangement effectively makes sure that what you pay over 24 months for EIP is received back in form of credit on your bills.

    What happens with your existing phone value

  • This will appear on your bill as a one time credit. In our case it will be $200. Since T Mobile is already giving you credit for full amount of the iPhone 7 as per above point, the amount of $200 will be recovered from you over a period of 24 months (which will be approx $8.3 per month).
  • If you cancel the service at any time, the remaining EIP installments as well as phone credit installments will become due at the time of cancellation.
  • This is how you will get your free iPhone 7 (or iPhone 7 Plus) over 24 months.
  • Currently on my receipt shipping date for iPhone 7 128GB jet black is mentioned as first week of November. However, iPhone 7 32GB black shows shipping dates as 9/27. See details for other models here.

Disclaimer

I pre-ordered the iPhone 7 128GB jet black on September 10 and above details are correct based on discussions with customer care and store representatives since some of the above details are not available on website, but it may change later. Also, author is not responsible for any confusion, misunderstanding, direct or indirect loss, any issues or complications due to this post. Always confirm with an authorized representative before placing the order.

If you notice any discrepancies, corrections or if any suggestions, please let me know using the comments below.

Offer Resources and links:

  1. T-Mobile iPhone deals
  2. Free iPhone 7 offer details on t-mobile
  3. Other iPhone 7 resources on technology-central.org

Other questions this post should help answer

  1. iPhone 7 offers/ iPhone 7 Plus offers
  2. iPhone 7 offer T Mobile / iPhone 7 Plus offer T Mobile
  3. Free iPhone 7 / iPhone 7 Plus

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