5 ways to save money on your next iPhone

Before you rush out & buy Apple’s latest tech, here’s our simple guide on how you could save some cash on your next iPhone.

iPhones are great devices. But there's no debating they cost a lot of money. When the iPhone was first released, it cost £150. Today the average price of an iPhone is £761!

This guide covers some actionable tips that could save you money. No hacks or shortcuts. Just smart thinking.

Buy a refurbished iPhone and save 40%

Buying a refurbished phone could net you significant savings. Refurbished phones differ from secondhand handsets because they are restored & reviewed by tech experts. Giving you peace of mind that everything is in tip-top condition.

iPhone re-seller Reboxed even offers a 12-month warranty on all its devices.

Top tip: We are partnering with Reboxed so anyone who goes via us receives additional discount on top.

Refurbished iPhone Potential Savings vs Buying New

Wait for the new iPhone to launch

Apple always drops prices on earlier models when it releases a new flagship. This happens like clockwork every year around September/October.

These price drops are usually pretty steep & will be visible across all retailers. Coming in at £100’s of pounds off. So, it’s well worth the wait.

Do you need the highest-end model?

Apple currently sells FIVE different iPhones. Ranging from the flagship iPhone 14 Pro to the entry-level iPhone SE.

People who just want to browse social media, text, and a few other basics, don’t need Apple’s high-end models.

Despite being an older-looking device, the iPhone SE 2022 is the best way to get a new iPhone at a significantly lower cost. It runs Apple’s A15 CPU & has a high resolution camera. Only released 6-months ago, it’ll get software support way into the future!

Putting that in real terms. Opting for the iPhone SE 2022 over this year’s iPhone 14 could save you £430.

That said, it’s important to research which model best suits you. Apple has a handy tool on their website that can help you to do this quickly & easily – Compare iPhone models.

iPhones Prices in 2022

Pricing correct as of 23/09/22.

Go for the lowest storage possible

iPhone prices quickly shoot up if you go for a higher storage option, so only buy storage if you really need it.

The easiest way to check how much storage you need is to look at your current phone. The amount you use now should help steer how much you’ll need going forward. For example, if you're using 50GB now, 64GB should be sufficient for your new iPhone.

You might also want to embrace the cloud when it comes to your photos & videos. There are loads of cheap cloud storage options which can back up your data, including Apple’s iCloud.

Following these tips will save you from paying a premium on storage every time you buy a new phone.

Find out – how to check iPhone storage

Trade in your existing device

Around 55 million phones are sitting in drawers doing nothing in the UK alone. That’s a lot of wastage & potential cash just lying around.

Apple offers a trade-in scheme that allows you to buy an iPhone at a heavily discounted price if you trade in an old phone. Steps include:

  1. Go to apple.com/UK and select the iPhone you want
  2. On the product page select smartphone trade
  3. Complete your purchase (At full price)
  4. When your new phone arrives, you’ll also receive a pre-paid envelop to send apple your old device
  5. Once Apple gets your phone and checks everything’s in order, they’ll refund you the amount they quoted before purchase

If Apple doesn’t offer a good value trade. There are plenty of other retailers that can supply quotes. Whatever you do, make sure you shop around when trading in, as prices vary wildly.

Recommend Trade-In Schemes

What about the best way to buy an iPhone?

Now that you know how to save money on your iPhone. The next big question is how to buy it. Through a carrier? Outright? Or something else?

Buy iPhone through a Carrier

Buying through a carrier can be a great choice if you want something straightforward, because you can buy a phone & a data plan in one swoop. However, most carriers will ask you to sign a 24 to 36 month contract. Where you will pay off the cost of your phone & data plan over time.

Check out the latest iPhone carrier deals.


  • Get the phone you want with a data plan combined
  • No need to pay the cost of the phone upfront
  • Quick & straightforward
  • Spread the cost of the device through a credit card or finance


  • Tied into a 12 to 36 month contract
  • The iPhone will be locked to your carrier's network

Buy iPhone outright – without a contract

Buying a new iPhone outright is understandably out of reach for most people. But that doesn’t mean it’s not a good idea - if you can manage it. The main benefit is that your monthly bill will be lower as you’ll only have to cover the cost of your data plan each month. Plus, there are some amazing SIM only deals on the market right now, which you can pair with your new device.


  • Gives you ultimate flexibility going forward
  • Access great Pay as you go SIMs
  • No contract tie in
  • Keep your monthly outgoings low


  • You’ll need to find separate deals on a SIM & device
  • If you finance it, you will need to get approved for credit

Buy a refurbished iPhone – The most cost effective choice

As we mentioned in our cost-saving section, buying a refurbished device can save you a ton of money. It allows you to buy the phone outright at a reduced cost (40% cheaper) & shop around for the best SIM-only deals, compounding your savings! Whilst you might not be able to get the very latest iPhone 14 refurbished yet, most users would be more than well served by older models like the iPhone 11 or iPhone 12. Apple builds its devices to last and provides north of 6 years of software updates on all of them. So you are in safe hands with almost any model. If your refurb is from a good retailer, you’ll get a device that looks & feels just like a new phone.


  • 40% cheaper than buying a new device
  • Phones look and feel new
  • Plenty of choice
  • Gives you ultimate flexibility going forward
  • Access awesome Unlimited data plans
  • No contracts or lock-in
  • Keep your monthly outgoings low


  • The phone isn’t technically “new”
  • You won’t be able to get the very latest handset
  • You’ll need to be happy with finding your own SIM deal

Disclaimer: The information provided in this blog was accurate at the time of publishing and is subject to potential changes or updates.

  • SMARTY Team
  • September 22nd, 2022