iPhone Payments Program might make the new iPhone affordable

If you’re interested in buying the new iPhone, you have a decision to make; should you pay a lump sum to purchase the device from Apple, or do you start a payment plan with your wireless carrier?

According to Mashable, the other option, which has been in existence since 2015, is the iPhone Upgrade Program. The program “splits the cost of your phone into 24 interest-free monthly installments, allows you to trade in the phone after the first 12 payments for the latest model, and includes AppleCare+ insurance.” Unfortunately, the cost of the AppleCare+ can bump the Upgrade Program up to more than the average carrier payment plan.

Fortunately, as it turns out, Apple has a hidden third option for potential buyers, called “Apple iPhone Payments.” It’s essentially the iPhone Upgrade Program without the upgrades and AppleCare+. It runs on the same 24 interest-free monthly installments to finance your new device.

Mashable points out that this service does come with some caveats: “you will need to buy a phone with wireless service to get the option — Apple doesn’t offer it for unlocked phones.” In addition, Apple iPhone Payments isn’t the easiest option to find. Apple hides the plan under a “Show more payments option” that you need to click before it becomes visible, despite being the only additional option.