Here's How I Saved Over $300 on My iPhone

When it comes to buying a new cellphone, there are hundreds of options on the market at different price points. If you're on a super tight budget, you can get a new smartphone for less than $200. And if you're a tech enthusiast who wants all the bells and whistles, you could be looking at $1,000 or more. The latest iPhone 15 Pro Max, for example, costs $1,299.

The statistics on how long people keep their phones varies a lot. But a recent Assurant report says the average age of trade-ins or upgrades for iPhones is around three and a half years. So if you're spending $1,299 on the latest iPhone Pro Max, you could figure that comes to $370 per year.

I've had my iPhone 6s for around four years, and it is time for a new one. Not only has the phone run out of memory, but I can't hear people when they try to call me, which is a pretty big problem. Here are three ways I saved money on the cost of a replacement.

1. I didn't buy the latest model

I don't need the newest, shiniest, iPhone. I probably wouldn't know how to use half the features anyway. So I made a list of the things that matter to me and then researched which model would tick my boxes. For example, I value memory and battery life more than the quality of the camera. I'm also willing to pay more for an unlocked phone.

Here's how some of the iPhone models compare price-wise:

I researched various models online, trying to find that sweet spot between a good price and the right functionality. For me, the iPhone 13 won because it had a longer battery life than the SE and I wasn't fussed about the camera or other features on the newer models. I decided it was a false economy to buy a much older phone, because I would need to replace it sooner.

Buying an older model took the price from $829 for the iPhone 15 to $629 for a new unlocked iPhone 13 from the Apple site.

2. I bought a refurbished phone

Renewed phones are increasingly popular. Not only is extending the life of an existing phone much better for the environment, but it can also be a great way to score a good deal. Some stores offer even lower prices for phones with a bit of cosmetic damage.

Make sure your renewed phone comes with a guarantee that it's in good working order. It should also be wiped of any data or trace of the previous owner. There are a few other things to watch out for if you're buying a pre-owned phone:

• Check what guarantees you are being offered. For example, Amazon promises the phone has been professionally inspected, tested, and cleaned. The Apple site actually certifies the refurbished products it sells.
• Make sure it comes with a warranty. The length of the warranty will vary depending on the seller, but it's important to be covered if the phone is faulty.
• Check that the phone was not stolen. If you buy from a reputable site, you're extremely unlikely to be buying a lost or stolen phone. However, you can check on the Stolen Phone Checker to be sure.

Buying a refurbished phone took the price from $629 down to $590. I could have saved more if I was OK with a few scratches. But I wanted a phone that was in the best possible condition, because I'd like it to last three or four years.

3. I stalked the phone I wanted online

Apple isn't known for its sales. You might get a gift card on Black Friday or Cyber Monday, but you're unlikely to get a discount. However, you'll often get good deals on older iPhones in the weeks after the release of a new one. So I waited until the new iPhone 15 had been on the market a few weeks, and have been tracking prices ever since.

I checked prices across different websites, but I monitored the prices on Amazon every couple of days. It only takes a couple of seconds in the morning, and in the past, I've saved hundreds of dollars on Amazon by waiting for big discounts. (I'm talking to you, Ninja Foodi). You can also set up an alert on camelcamelcamel, an Amazon price tracking site. The site shows you how much an item has cost over the past year, as well as what deals are available from other vendors.

Hunting for the best deal took the price from $590 down to $520. That's $100 less than getting a new iPhone 13 and over $300 less than buying the latest phone.

Other ways to save money on an iPhone

I travel a lot and don't like being tied to a specific phone company, so a locked phone doesn't make sense for me. I'd also rather avoid taking on unnecessary debt and those plans are essentially interest-free loans. I knew I needed to buy the phone this month and so had built up the money I needed in my checking account.

However, if you are already paying for a cellphone plan and will continue to do so, it may be a different story. You could save as much as $1,000 on a new iPhone with major carriers like AT&T and Verizon if you also trade in an existing phone. When you commit to a plan, you'll get a monthly credit toward your phone financing. The catch? If you want to change your plan before the phone is paid off, you'll be on the hook for the remaining cost of the phone.

Plans aside, according to the Apple site, you can get between $40 and $650 off by trading in your old phone. The price you'll receive depends on the model and condition of your old phone, but it's worth knowing. Finally, if you have a rewards credit card, use it to get cash back or points on your phone purchase. For example, the Apple Card promises 3% cash back on Apple shopping, and other cards offer similar benefits.