Financing options for cell phones

Want to finance the new iPhone Duo or iPhone 18 Pro? Both qualify for 0% APR financing at Apple, starting at $83.29 a month for iPhone Duo and $49.95 a month for iPhone 18 Pro over 24 months.

New phones from Apple, Samsung and Google now start at about $700 and run up to $1,999 for the iPhone Duo — and the options to pay for them have grown. Phone financing through a carrier, retailer or the manufacturer often offers the best deals, especially if you have a phone to trade in. As a last resort, you can also apply for a loan or put the expense on a credit card.

You may be able to include accessories in your purchase when you apply for cell phone financing. You can also use a credit card or personal loan to cover the cost of any accessories, including AirPods.

How can I finance a cell phone?

You have a variety of options to make your cell phone more affordable if you can’t cover the sticker price up front. You may even be able to finance a cell phone with bad credit, though your options are more limited. For example, the 0% APR financing options might not be available to you, but you might be able to get a loan through a retailer or separate lender.

How to get approved for a cell phone with bad credit

If you have bad credit, you can skip the credit check by signing up for a prepaid plan with a company or buying an unlocked phone. In some cases, you might be able to get a cell phone with bad or no credit by making a security deposit, bringing on a cosigner or joining a family plan with someone who has good credit.

Phone financing through your current carrier

This option is best for people who are happy with their current carrier, but want to upgrade their phone. Many providers offer a few options to finance a new phone:

• Trade-ins. Trading in your old device can reduce the cost of your new phone to the point where you don’t even need financing — especially if it’s a newish model in good shape.
• Interest-free installment plans. AT&T, T-Mobile and Verizon let you split the cost of a phone over 24 or 36 months at 0% APR, with payments added to your monthly phone bill. Depending on your credit, you may need to make a down payment.
• Leasing. Less common, some carriers allow you to lease a phone for two years. It works a lot like buying a phone and trading it in, only you won’t ever fully own it outright.

The downside is that you’ll typically need to stay with the carrier for the full 24- or 36-month term to get all of a deal’s savings. Those savings usually come as monthly bill credits — if you cancel service early, the credits stop and you’ll owe the remaining device balance.

Phone financing through a new carrier

If your current plan is up and you don’t mind changing service providers, you might be able to qualify for a signup deal by switching carriers. These vary depending on the provider and the phone. Some might cover the full cost of a phone, while others might offer a reduced monthly cost on the installment plan.

You might also be able to qualify for a signup deal if you’re adding a new line to your current plan.

Personal loans

Personal loans from a separate lender can be used to finance your new phone, although this option is best for people who’ve exhausted all other 0% interest financing options. Rates vary widely by lender and credit score. For reference, the average rate on a 24-month personal loan at a commercial bank was 11.86% APR in the second quarter of 2026, according to the Federal Reserve.

While you need good credit to get the most competitive rates, there are personal loan options for all credit types. Make sure you’re working with a lender that offers loan amounts low enough to cover the cost of your phone — some lenders’ minimums are higher than the price of a new phone.

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Manufacturer phone financing

If you prefer to buy an unlocked phone through the manufacturer, this option may be the way to go. If you’re financing an iPhone from Apple, for example, you can choose Apple Card Monthly Installments, lease through Apple Upgrade or finance through AT&T, T-Mobile or Verizon at checkout. Samsung and Google offer their own financing plans too.

• Interest-free installment plans. Apple Card Monthly Installments lets you pay for a new iPhone over 24 months at 0% APR when you check out at Apple, subject to credit approval. Google Store financing offers 0% APR for 36 months on Pixel phones.
• Citizens One iPhone loans. Apple’s Citizens iPhone loan — officially called iPhone Payments — is a 24-month, 0% APR installment loan from Citizens Bank, doing business as Citizens One. It requires a credit check, but you can make payments with a credit or debit card. Apple currently lists it as a checkout option only for iPhone 16, so for newer models you’ll need to use Apple Card Monthly Installments or carrier financing instead.
• Samsung Financing through Affirm. Samsung Financing now runs through Affirm, with terms up to 24 months at 0%–36% APR depending on your credit, plus an interest-free Pay in 4 option.
• Leasing. Apple Upgrade — Apple Store leasing provided by Klarna — offers 12- and 24-month iPhone leases starting at $34.99 a month for iPhone 18 Pro and $57.99 a month for iPhone Duo on a 24-month term. At the end, you can upgrade, buy the phone or return it, but you won’t own it unless you pay the purchase fee.
• Credit cards. Apple Card Monthly Installments requires an Apple Card, issued by Goldman Sachs Bank USA. Taxes and shipping are charged at your card’s regular variable APR — 17.49% to 27.74% for new accounts as of July 1, 2026, not the 0% installment rate.

Like with carrier financing, you can often trade in your phone to reduce the total cost.

Retailer phone financing

Some retailers offer store credit cards with deferred-interest promotions. Best Buy, for example, offers no interest if paid in full within 24 months on unlocked phone purchases of $649 and up with a My Best Buy Credit Card. But beware: Interest is charged from the purchase date if you don’t pay off the balance before the promo period ends.

Others offer buy now, pay later loans at checkout through companies like Affirm or Zip — though some charge interest or fees — and lease-to-own programs through companies like Progressive Leasing, which cost more than paying the cash price.

These options are best for people with strong credit who can qualify for 0% APR financing. However, Affirm is available to a wide range of credit types.

Buy Now Pay Later (BNPL) apps

Klarna, Afterpay and Sezzle are popular BNPL apps that let you split the cost of your phone into four interest-free payments. You pay the first installment at checkout and the rest every two weeks.

While the repayment term is quick, these apps let you pay off your phone over six weeks instead of immediately. Affirm and Klarna are also available as pay-later options when you check out with Apple Pay online or in apps.

Credit cards

As a last resort, you can also use your current credit card to cover the cost of your new phone. This is generally the most expensive option, since credit cards tend to have higher rates than personal loans. However, it might be worth it if you can qualify for a new credit card that offers 0% APR for a promotional period of 18 or 24 months. That way you won’t be tied to a carrier plan.

These personal loan providers offer loans to borrowers with a range of credit scores. Compare offers and check each lender’s minimum loan amount to make sure it fits the cost of your phone.

How much does a cell phone cost?

The latest phones from Apple, Samsung and Google cost $699 to $1,999 at full retail price, depending on the model:

*Includes a $30 connectivity discount that requires activating with AT&T, T-Mobile or Verizon.

Prices are starting prices for the base storage option, before trade-ins, taxes or promotions. Retailers and manufacturers often run sales below these prices.

5 tips for cell phone financing

Before shelling out hundreds of dollars for a new cell phone, consider these tips to ensure you find the right financing for your needs:

• Trade in your old phone. Trading in your old phone can shave hundreds of dollars off the upfront or monthly cost, regardless of where you buy it.
• Consider your travel plans. Plan on moving abroad or traveling a lot over the next few years? You might want to think twice before signing up for a carrier deal that runs up to 36 months.
• Pay off your current phone before switching carriers. If you leave a carrier deal early, your bill credits stop and you’ll owe the remaining device balance — which can wipe out the savings you signed up for.
• Have a plan before you swipe. Got a card with a 0% APR intro offer? Calculate exactly how much you’d have to pay per month to avoid paying interest once the promotional period is up.
• Read the fine print. Look at your contract for circumstances you could end up paying hefty fees or interest for before you sign.

Bottom line

You have a wide range of interest-free options when it comes to financing a new cell phone. Make sure you consider those first before turning to more expensive choices like personal loans or credit cards. You can learn more about how borrowing works by reading our guide to personal loans.

Frequently asked questions

• Can you finance the iPhone Duo?

  Yes. Apple offers iPhone Duo for $83.29 a month over 24 months at 0% APR with Apple Card Monthly Installments, or through Apple Upgrade leases starting at $57.99 a month for 24 months. Both require credit approval. You also consider small loans, BNPL and other funding options.

• When can you buy the iPhone Duo?

  Pre-orders open October 16, 2026, and the phone goes on sale October 23.

• Does Apple still offer Citizens One iPhone loans?

  Yes, but only on some models. Apple's iPhone Payments program, run through Citizens One, is a 24-month 0% APR loan that Apple currently offers at checkout only for iPhone 16. For newer models, like iPhone 17, iPhone 18 Pro and iPhone Duo, you'll need to use Apple Card Monthly Installments, carrier financing or an Apple Upgrade lease.

To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.

Written by

Anna Serio

Editor

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Anna Serio was a lead editor at Finder, specializing in consumer and business financing. A trusted lending expert and former certified commercial loan officer, Anna's written and edited more than 1,000 articles on Finder to help Americans strengthen their financial literacy. Her expertise and analysis on personal, student, business and car loans has been featured in publications like Business Insider, CNBC and Nasdaq, and has appeared on NBC and KADN. Anna holds an MA in Middle Eastern studies from the American University of Beirut and a BA in Creative Writing from Macaulay Honors College at Hunter College, CUNY. See full bio

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