Apple Unveils Payment Plan Option to Make Their Pricey Tech More Affordable

The leasing option may make gadgets more accessible, but does it save you money?
2:54 | 09/11/15

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

Comments
Related Extras
Related Videos
Video Transcript
Transcript for Apple Unveils Payment Plan Option to Make Their Pricey Tech More Affordable
Back now with the new deal from apple. The company revealing more than just an iPhone and iPad and new TV but a new way to pay for your phone, installments ase the wholday to sl eir old R anbuy a none... $778. Which equals the cost of a brand-new iPhone 6s plus $129 for apple care, apple's service that covers accidental damage to the phone. The advantage to using the installment program are you don't have to pay all the money up front much you don't have to be locked into a particular wireless carrier and after 12 months you can upgrade to the latest phone. Reporter: After a year you can upgrade for free. But if you do, you automatically extend that payment plan another 24 months. Keep upgrading every year and you're paying about $388 a year to own the most up to date iPhone. But is it really the best deal? You're still paying the same price as if you bought brand-new and paid full price right out of the box, you're just paying it over time. The difference is that after 12 months you get to upgrade to the new phone. Reporter: A potentially good option for rupa who has already upgraded her phone three times in just 3 1/2 years. I marked it on my calendar so as soon as it comes out I want to sign up. Reporter: If your goal is to pay the least amount and don't want to upgrade that often your cheaper version buy it at a discount through your wireless carrier. Many offering new iPhones for $199 with a two-year contract. And many of those wireless carriers also offer similar plans where you pay for the phone over time in installments but it's the same deal. You get the phone after paying for it over the course of about two years much you're still paying the same amount. At the end of two years you paid the same amount. It's just you paid it over time. If you are the type of person that likes to get a phone over and over and it seems like that would lend -- Like leasing a phone. Leasing it but you actually do own it he end. No interest which is great. Thank you so much, Rebecca. You can get all the details on our website, goodmorningamerica.com on Yahoo! Coming up, Amy has our "Speed

This transcript has been automatically generated and may not be 100% accurate.

{"duration":"2:54","description":"The leasing option may make gadgets more accessible, but does it save you money?","mediaType":"default","section":"ABCNews/GMA","id":"33681391","title":"Apple Unveils Payment Plan Option to Make Their Pricey Tech More Affordable","url":"/GMA/video/apple-unveils-payment-plan-option-make-pricey-tech-33681391"}