Plus, it assumes no value in upgrading the device. That was the main benefit of the old upgrade program. Both programs have the problem that the last device you get with it is going to cost more than if you paid cash or 0% financing through normal retail.
From what I understand you are basically leasing the device, so the residual value is the balance payment (which you do not pay if you give back the device and get a new one)
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This isn’t the case with Apple Upgrade. Over the entire lifetime of the lease, counting the lump sum final payment, you pay a total of the initial retail cost of the device.
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Ah, good to know. I messed up a calculation last night on one and thought there was a premium.
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