Considering an iPhone 7? Here’s a cost calculator to help you…

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If you’re considering an upgrade to the newest model iPhone, well, you might be out of luck.

With the iPhone 7 set to launch Friday, Sept. 16th there are already reports that the iPhone 7 Plus has sold out worldwide.

Demand for either model of Apple’s newest smartphone is bound to be high straight through the holidays, so if you’re considering an upgrade, you may want to check out WalletHub’s Cell Phone Savings Calculator. The financial website describes the calculator as a way to “compare the various ways that people can purchase the iPhone, evaluate the wide range of associated coverage plans and determine when someone is better off simply keeping their current phone.”

Users can input their upfront and monthly costs; then compare the true cost of two-year contracts, installment plans and no contract plans from all of the major carriers including AT&T, Verizon, Sprint and T-Mobile.

In advance of the Friday happenings, WalletHub also released its iPhone Savings Report. Here are just a couple of the findings:

  • Individuals who want the new iPhone can save up to $1,074 by opting for a no-contract plan from RingPlus Mobile over the same types of plans from T-Mobile and Verizon.
  • Individuals can save up to $1,324 by keeping their old phone and getting coverage from the Walmart Family Mobile.
  • Families can save up to $1,705 for four lines with 12GB of data by choosing a no-contract plan from RingPlus Mobile over an Apple instalment plan from AT&T ($4,694).
  • Families can save up to $2,294 by keeping their old phones and getting coverage from RingPlus Mobile.


For more of Michelle Stark‘s “Click Picks” make sure to watch for her Digital Life segments on WHNT News 19 This Morning from 4:30a.m. to 7:00a.m. weekdays.