Yesterday I announced that I was getting an iPhone, but I didn’t simply decide to get one, walk into the AT&T store and sign up. I was much more involved and I did a lot of research before finally pulling the trigger.
As we know, the cost of the iPhone was $200 and the monthly service is $30 i addition to the service I already have.
I already had some of the iPhone features like tracking my Nike+ runs and the ability to make calls. I bought a Nike+ sportband last summer that broke recently, but since the damage was caused by sweat getting into the display (a common problem) Nike replaced my sportband with a new version for free. Sweet, right? Well, it gets better.
Nike not only replaced my sportband, but they sent me an extra sensor. Well, that’s perfect because the iPhone only needs a censor to track my runs. So I was left with a brand new sportband and censor. I decided to sell it and see how much I could get for it. Well, I was able to snag a cool $40 for it, which I’m very happy about.
$40 down, $160 to go.
Next, since I was having trouble with my phone, AT&T sent me a brand new replacement phone for free. Well, I didn’t need that, so I put it up on craigslist and sold it for $125. Nice!
$165 down, $35 to go.
Finally, since I was having such terrible problems with my AT&T phones (one broke and then the replacement broke two days later!) that the customer service department gave me $105 off my bill to compensate for my inability to make calls or send text messages for about a week. Amazing, right?
$270 down, -$70 to go.
So what does that extra $70 go toward? My first two months of iPhone service!
By being resourceful, I was able to subsidize my iPhone purchase by selling unneeded products (that I got a TON of use out of) for over $250!
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What a great post! Definitely the way to buy something you want is to sell something you are not using or don’t want anymore. No debt is the way to go.
.-= Mrs. Not Made of Money´s last blog ..Chocolate Chip Muffins – Cook At Home Day =-.
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Wow, that is pretty solid man. Resourcefulness will take you a long way. It just goes to show you how even something you think you can’t afford can be obtained with a little ingenuity.
.-= Kyle C.´s last blog ..How and Why You Would File for a Tax Filing Extension =-.
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Sounds like a great way to get the funds you needed!
But isn’t an AT&T plan for the iPhone about $100? I always felt the price of the phone was secondary to what I’d be paying for the plan for two years.
.-= Craig/FFB´s last blog ..Costs In Buying A Home Besides Your Mortgage =-.
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Daniel Reply:
April 13th, 2010 at 9:53 am
@Craig/FFB, I already have AT&T on a family plan, so the additional cost of the iPhone is just $30 a month for data. To begin with, we have a 4 person family plan that’s just $100!
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Craig/FFB Reply:
April 13th, 2010 at 10:04 am
@Daniel, Interesting. Sounds like a decent deal then. Might have to look into their family plans.
.-= Craig/FFB´s last blog ..Different Kinds Of Bank Cards =-.
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Daniel,
Great story. Your opening statement set the tone: “I didn’t simply decide to get one, walk into the AT&T store and sign up.” How many of us simply decide to go “get something”…cell phone, TV, Satellite TV, computer, car, etc?
You showed how to make win-win out of a “purchase” by simply deciding to test the waters and ask questions.
.-= Joe Plemon´s last blog ..New Study on 401(k): Failed Experiment or Solid Plan? =-.
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Daniel Reply:
April 13th, 2010 at 9:55 am
@Joe Plemon, I probably overthink my purchases most of the time. It helps avoid unnecessary purchases, but it also slowls me down when I want something really badly!
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I love your resourcefulness! Congrats on working for such a good deal!
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How about trying to get me one for free now, Daniel?
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Daniel Reply:
April 13th, 2010 at 11:49 am
@Avi, Sure, you can start by selling that $100 scooter you bought for $20…
.-= Daniel´s last blog ..Why I’m a Fan of Lifestyle Inflation =-.
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Nice work! I Love when I get scores like that. I
.-= Evan´s last blog ..What is a Callable CD? and Why Current Callable CDs Don’t Make Sense =-.
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And now your wonderful girlfriend gets your ipod that you no longer need :-) …sweet!
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Daniel Reply:
April 13th, 2010 at 4:04 pm
@Lbergs, Or I could sell that too..now this is one tough decision!
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We did something similar to get our iPhones last year! The hubby actually sold his broken one to Gazelle for just enough to pay for the old once. A year later? When he dropped it and shattered the screen on his brand new phone? Gazelle again paid as much as it costs to buy with a contract renewal at AT&T. It was amazing!
Congrats on your new iPhone (and your ingenuity in getting one!)
.-= Heahter´s last blog ..Meijer Weekly Deals, 4/11-4/17 (or 4/15-4/21) =-.
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Daniel Reply:
April 13th, 2010 at 4:03 pm
@Heahter, That’s awesome that they paid so much for it, plus helping the environment by recycling!
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Excellent job making it happen at a resonable price!
I don’t have one, but I have tech friends that do, and they seem to really enjoy it!
Have fun with it!
.-= Money Reasons´s last blog ..Are You Tracking Your Cash Flow? You’d Better Be! =-.
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You’ll like this. I shared a story a while back at LifeTuner about how I managed to get an iPhone at the subsidized price (legitimately), even though I didn’t qualify for the subsidy. This will also work when the next model is released. Check it out: http://www.lifetuner.org/topics/26-budget/discussions/248-get_an_iphone_discount_even_if_you_don_t_qualify_for_the_subsidy
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Daniel Reply:
April 13th, 2010 at 10:07 pm
@Keith @ LifeTuner, Wow, very creative Keith, I’m impressed. I actually used my mom’s upgrade (Mine wasn’t up until February 2011). I don’t know how much the 3G was worth, but I imagine there are those out there who would be willing to do it for very little. That’s a great tip to keep in mind.
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I still can’t stomach the $70+ dollars a month to run the phone. I might take the plunge this summer with out corporate discount.
.-= BibleDebt´s last blog ..Blog Buzz – Over 200,000 =-.
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