The Trade Up with Installments plan, revealed on Thursday, lets consumers hand Apple their old devices and apply their value to the monthly payment for a new iPhone.
Using the Trade Up with Installments plan, people who trade in old devices could pay less than $15 per month for a new iPhone, depending on the new model they choose.
While the value of the trade-in device can be applied over the course of 24 months to shrink the monthly payment on the new phone, Apple is also offering people an immediate credit for old phones at its retail stores. It will offer $100 for an iPhone 4 or 4S; $200 for a 5, 5C, or 5S; $300 for an iPhone 6; and $350 for an iPhone 6S.
Apple didn’t say how much it would give people for Android or Windows phones.
Trade Up with Installments is only available at U.S. Apple Stores.
Apple has been broadening its trade-in program recently in an effort to get as many old iPhones as possible off the streets and fill consumers’ hands with its newer devices. Earlier this month, the company began accepting damaged handsets as old as the iPhone 5s, offering credit to upgrade to a new model.
The rapid expansion of the trade-in program likely has to do with projected decline in iPhone sales set to take place during the second quarter of 2016. Apple regularly set sales records in previous quarters, but that trend can only last so long before sales inevitably level off or decline.
Part of the issue for Apple is that plenty of people are still using older iPhones. Nearly one in three active iPhones has a 4-inch display, a screen size that Apple discontinued with its latest smartphone line. Apple is rumored to be remodeling the iPhone 5s to bring it up to speed with the 6 series while preserving the popular 4-inch display size.