You will soon be able to rent an iPhone on a monthly basis

iPhone 13 Pro Max

According to recent reports, Apple is planning to develop a subscription service for iPhone and other hardware products. This new subscription service will allow users to directly pay a monthly fee to “rent” the device. Some analysts believe that this service will be Apple’s biggest push to achieve automatic repeat sales. This will allow users to subscribe to hardware for the first time instead of just digital services. If the service becomes official, users can directly use an iPhone and iPad hardware for a monthly fee.

iPhone 13 mini

Sources claim that Apple’s hardware subscription service is currently undergoing serious scrutiny. The company plans to roll out the new service starting with this year’s new iPhones. At the moment, Apple devices only support installment payments, and after a major strategic shift in driving hardware subscriptions, it may help Apple generate more revenue. This will make it easier for consumers to accept the cost of new products.

According to reports, Apple’s idea is to make the process of buying an iPhone or iPad consistent with paying a monthly iCloud storage fee or an Apple Music subscription. This will allow users to subscribe to the hardware with the same Apple ID and App Store account that they currently use to purchase apps and services.

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It is worth mentioning that the difference between this subscription service and the installment plan is that users can switch to a new device at any time during the subscription period, instead of paying in installments. All installment payments must be complete within 24 months or 12 months. Within the period, users will continue to make consistent payments. Users can not change the agreement mid-way. In this way, it will be much more convenient for users who want to replace the new equipment every year.

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Renting an iPhone – a good idea?

The hardware renting feature is a new idea coming from Apple. No doubt, these services will attract a lot of people to the Apple ecosystem. Many people do not own iPhones because they are expensive. However, with this service, people will have the opportunity to test the iPhone by renting it. This will give them an idea of whether or not it is worth it to purchase the device.

For instance, a user regretted “to death” that he bought the new iPhone SE 3. If this rental service was available, he would have probably rented the device first to ascertain whether or not he needs it.

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