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Mechanic86's profile

3 Messages

Saturday, November 25th, 2023 10:43 PM

Trade in with current installments

I traded my iPhone 12 in for a ( free) iPhone 14 Pro.  Meaning I pay nothing out of pocket.  Except I paid the taxes up front.  The installments cover the phone 100%  I have 31-36 installments left. But again it came to a free phone for trading in my 12

what happens if I want to upgrade and trade this phone in?  Technically it’s already paid for by my 12 trade in…. 

Accepted Solution

Former Employee

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22.5K Messages

7 months ago

It’s not paid for till you complete the 36 month installment plan… for each of the 36 months you receive a credit against that particular month charge.

If you wish to trade in before 36 months, or discontinue current plan then you owe the remaining number of installments left, forfeit the remaining credits as did not keep the service for prescribed time agreement.

In essence you have a 36 month loan agreement with 0% interest, requiring you to complete the agreement with paid service or payoff the agreement early and lose all remaining credits.

3 Messages

7 months ago

But I have them my old phone they gave me 1000$ credit basically.  Soo why do they get to keep my phone then if I can’t keep the credits???

ACE - Expert

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28K Messages

7 months ago

You don’t get the $1000 up front all at once.  You get a bill credit over 36 months which will TOTAL $1000.  🙄

Were you unclear on this at the time?

ACE - Sage

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118.3K Messages

7 months ago

Oh, another one who didn't read how these promotions work.   Service providers do these deals in order to lock you into service for a period of time to make profit off of selling you *their product* which is service. For that reason none of them give you a lump sum credit up front.

This sample is for the newer promotion for the iPhone 15 but your deal is exactly the same. If you cancel, or upgrade before all 36 months installments and credits , You have to pay off the remaining installments and any further credits are void.

So you bought $1,000 phone let's say halfway through at 18 months you decide you want to upgrade, AT&T has paid off $500 of the installments, and in order to upgrade again you have to pay off the other $500. If you cancel you have to pay off the remaining 500.

Sample.

3 Messages

7 months ago

honestly how many of us read all that.....   so i ONLY get the 1000$ worth of credit if i keep the phone for 36 months that (Edited per community guidelines) (Edited per community guidelines)....     and to the others comment i know they dont give the 1000$ up front im not that stupid!    but thanks for the details  

(edited)

ACE - Sage

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118.3K Messages

7 months ago

So you know they're not going to give you $1,000 up front.  But you're also saying technically your new phone is paid for.

So how exactly did you think this worked?  

ACE - Expert

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28K Messages

7 months ago

honestly how many of us read all that...

Educated consumers have a clear understanding about the agreement they are signing up for.

ACE - Sage

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118.3K Messages

7 months ago

@skeeterintexas 

It's all magic to some people.

But hey, go ahead and sign legal documents that probably obligate them to something, and not read what they're signing.  

Former Employee

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22.5K Messages

7 months ago

So you traded in a phone worth $200-$250 dollars…

you could have sold your phone outright and used the proceeds to pay a down payment but would not have $1000 for your iPhone 12.

The company does not get or keep your trade in, that goes to a different company so ATT might have gotten something for your trade in but not $1000.

Instead they have your promise to maintain service for 3 years, if your plan is $75 per month… $900 per year… $2700 for 3 year they are giving a credit or discount of about $27.75 per month to reach $1000. Your charged $2700, discount $1000 ATT gets $1700 to provide service and your old phone is long gone. The credit exists as long as payment plan exists.

Community Support

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232.9K Messages

7 months ago

Hello @Mechanic86,

 

We understand that you are looking for information regarding trade-in. Thank you, Ace, for providing the relevant information.

The AT&T Trade-in Program allows you to trade in an eligible smartphone in good working condition for bill credits, promotion cards, or upgrades. You can trade in your phone online or in a local AT&T store. The trade-in value and offer depend on the device and the installment plan you have. To check the trade-in value of your phone, you can head over to and complete a few quick steps. You will receive store credit, not cash, for your trade-in. If you have any further questions, you can contact AT&T for help via live or online assistance. To get more information, you can visit Trade-in and make use of the Program.

 

Let us know if this information helped.

 

Thank you for contacting AT&T Community Forums.
Kevin, AT&T Community Specialist

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