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Once you’ve bought one iPhone, it’s difficult to buy anything else. With new Apple products launched every year, the tech giant knows how to build anticipation. With tempting rumours and leaked design images swirling among fans for months beforehand, the arrival of any new handset is a big event in the tech calendar.

However, even when a big launch is not expected for a while, and you’re bored with your current phone, you may feel like switching to a new handset. But if you do, how much will it cost? And is there a way to save? The answer is yes!

To help you, the team at Gadget Cover has put together this handy ‘How to’ guide to saving money on your next iPhone purchase.

Don’t forget, it’s not just the iPhone you’re buying. You’ll also need iPhone insurance. The team at Gadget Cover can help you find the best deal for your budget. Why not get a quick quote today?

Top tips for saving on your next iPhone

Tip 1: Avoid buying on a contract

An easy way to save money in the long term is to avoid buying your iPhone as part of an upgrade contract with your mobile network. Instead, buy a SIM-free iPhone upfront, and get a separate SIM-only contract. While you’ll have to pay a lot at first for the handset this is almost always the cheaper option in the long run. It also gives you the best flexibility when it comes to deals on calls, text and data.

By going SIM-only you can choose between a huge variety of contracts and many people end up paying less than £10 a month for their calls, texts and data. Check the phone contract calculator from Which? to help you work out the potential savings.

Before getting your contract, take a look at the pros and cons of buying a SIM-only contract here.

Tip 2: Be clear about what you need

Once you start looking through the iPhone’s high-end specifications, it’s all too easy to be tempted into getting more than you actually need. There are only so many people who will really need 512GB of storage. For example, a regular iPhone 11 with 64GB will cost around £600 compared to £1,400 for an iPhone 11 Pro Max with 512GB.

And realistically, the iPhone XR still delivers fast performance, great cameras and long battery life. So can you really justify paying more for the latest iPhone 12 series? Clearly this is down to personal preference but it’s something worth thinking about if you’re really trying to save money.

Tip 3: Wait for the new model to launch

Even if you don’t want to get the latest model it’s always a good idea to wait for it to launch before upgrading. For example, when the iPhone 12 launched in October 2020, the price of the iPhone 11 immediately dropped by more than £100 – and it’s only a year old! This is a great way to get an almost top-of-the-range model at a lower price. These price drops often apply to the whole product range, too, so there are savings to be had at all price points.

Tip 4: Shop around

Black Friday and Cyber Monday are some of the most popular times to shop around and pick up a deal on a new iPhone. However, throughout the year it’s worth looking out for discounts. From the network providers themselves, to high street shops and online retailers, you are really spoilt for choice when it comes to a deal on an iPhone.

Remember, buying an iPhone is a big investment, so make sure you're dealing with a reputable seller. No matter who you buy from, check their returns policy and pay attention to customer feedback and reviews.

Tip 5: Sell or trade in your old iPhone

Many retailers and even Apple itself allow you to trade in your old Apple device for a new iPhone. For example, Apple currently offers up to £170 off the price of an iPhone 11 if you trade-in an iPhone 8 Plus 64GB.

You could also try to sell your iPhone privately or through an online auction website such as eBay. Be aware that it’s sometimes better to act sooner rather than later. As soon as a new model is announced prices for older handsets soon begin to drop.

Tip 6: Buy a second-hand or refurbished handset

The second-hand market in iPhones is booming. Many retailers are now selling refurbished phones that have been professionally cleaned, checked and restored. Even Apple has its own refurbished iPhone website section. All Apple’s refurbished models come with a new battery, new outer shell, and are backed by a one-year warranty. If you don’t mind not having a brand-new device then these are both great ways to save money on top-of-the-range iPhones.

Tip 7: Buy it abroad

This is clearly not an option for everyone but there are big savings to be had if you can travel. For example, the iPhone 12 mini 64GB is selling for £699 in the UK while you can buy it for $699 in the US. That’s a saving of around £180.

While exchange rates can go up or down, you can still save on an iPhone if you buy it in the US or elsewhere. Of course, to save money you need to be going abroad anyway. But if you do have a trip planned, wait until then and you’ll enjoy a substantial saving.

If you do travel that extra mile then make sure you have iPhone insurance from Gadget Cover before you leave. Our cover is extended to include use of your gadget anywhere in the world, up to 180 days in any one year.

Tip 8: Save money on iPhone insurance from Gadget Cover

Wise iPhone owners will always protect their device from the risk of being damaged, lost or stolen with iPhone insurance. Policies arranged through us can include protection from accidental damage, liquid damage, theft, breakdown and unauthorised usage. Plus, if you choose to pay an extra premium your iPhone can also be covered against loss.

Get a quote from Gadget Cover today and see how much you could save.

Policy benefits, features and discounts offered may very between insurance schemes or cover selected and are subject to underwriting criteria. Information contained within this article is accurate at the time of publishing but may be subject to change.