What you need to know about Apple’s iPhone 6s installment plan

When Apple announced the new iPhone 6s and 6s Plus on Wednesday, it revealed the standard prices available when a user is on a two-year contract with a carrier. However, they also introduced an entirely new way to buy the device: through Apple’s own iPhone Upgrade Program. The system is similar to installed payment plans from carriers, like AT&T’s Next or Sprint’s iPhone Forever; users make monthly payments on the device, and are eligible to upgrade every 12 months.

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