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Old 12-24-2016, 08:58 PM   #1
Julius Caesar
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What is the catch with this one penny iPhone from Target?
Offer from Target

https://mobile.target.com/web/contro...6&origin=ecomm

Choose Verizon, 16 GB, Two year contract

Get an iPhone for just one penny. Is it for real? What is the catch other than 40 dollars activation fee?
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Old 12-24-2016, 09:15 PM   #2
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Quote:
Originally Posted by Julius Caesar View Post
Offer from Target

https://mobile.target.com/web/contro...6&origin=ecomm

Choose Verizon, 16 GB, Two year contract

Get an iPhone for just one penny. Is it for real? What is the catch other than 40 dollars activation fee?
Since I joined MobileRead, I have been under the impression that the forums here are supposed to be about only ebook related topics (books themselves, e-reading hardware and software, etc.). The topic above by Julius Caesar doesn't seem to fit it. Any comment by anyone else including the moderator(s)?
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Old 12-24-2016, 09:57 PM   #3
Nate the great
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This is the Apple devices forum; he is asking about an Apple device.

Seems like a good fit to me.
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Old 12-24-2016, 11:44 PM   #4
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Phone is a penny IF you Pay $40 to activate & PAY ALL the Fees over the next 2 years. IF not then you most likely be billed for the Full cost of phone. And you are Locked into which ever carrier you pick.
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Old 12-25-2016, 12:41 AM   #5
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Originally Posted by Julius Caesar View Post
Choose Verizon, 16 GB, Two year contract

Get an iPhone for just one penny. Is it for real? What is the catch other than 40 dollars activation fee?
The "catch" is that you'll have a two year contract at whatever current contract rates are (usually but not always higher than if you have device you already own or are paying for monthly) and you'll have an early termination fee if you want to try and get out of the contract early.
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Old 12-25-2016, 09:39 AM   #6
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There is no such thing as a cellular provider selling you a brand new model iPhone for one penny, or $100, or even giving it to you. The catch is you will pay for the iPhone over the course of the two year contract, and you might even pay interest on it too! Most major American cellular providers have contracts that even a lawyer would cringe at. So many gotchas are buried in those contracts that you likely won't know what truck ran over you! Here is some of what you can expect, though contracts can vary greatly:
  • $40 activation fee (they flip a switch in there software)
  • You will pay at least full market price for iPhone over the two years you have the contract
  • Higher rates on cellular services
  • Plenty of hidden fees and possibly some bogus taxes
  • Two year contract with early cancellation fees (probably at least $20/mo for every month left on contract)

Bottom line is you should never misinterpret the phrase "get an iPhone for one penny" as meaning you actually buy it for one penny. They are merely extending a loan to you to buy the iPhone over the next two years. So "get" does not mean "buy". But "get" probably does translate into "bend over and get $%^&@#".
Last edited by jswinden; 12-25-2016 at 09:45 AM.
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Old 12-27-2016, 05:27 PM   #7
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You're paying more for the two-year contract vs just financing it. Says there in the fine print that on the regular financing, the phone is worth $399.99, but on the two-year it's $449.99.

Target is also charging $20 extra for the activation fee compared to Verizon.
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Old 12-27-2016, 07:04 PM   #8
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The other thing is it has only 16GB. That is going to involve a lot of compromises when it comes to which apps and data gets to live on there.
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Old 12-28-2016, 05:33 AM   #9
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The other thing is it has only 16GB. That is going to involve a lot of compromises when it comes to which apps and data gets to live on there.
There is also a 64GB version available.
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