How do upgrades work?

[ScottyBones]

I'm currently using a fold 4 and am on 24 month payment system. I got it about a year ago, and was wondering if Samsung will allow me to trade that in for the Fold 5 (because I'm still making payments) and still get the $1000 off trade in deal? I can't seem to find a clear answer anywhere. I've read conflicting things on Reddit some say they have been able to do this no problem payments reset to whatever the deal is for the new phone. But I've heard others say you can't do that? Just thought I'd come here to see if this is possible. Thanks.

[TipsyTrex]

Unless otherwise stated, you will still owe the remainder of the balance of the phone that has been traded in.

[JBTechfanatic]

The way it works is you continue to pay whoever you owe the device payments too whether that be your provider or creditor when you buy the new phone Samsung will give you essentially up to $1,000 off the new device you will then have to pay the difference out of pocket then and there and own the new device out right while continuing to pay your other device off the terms would remain the same really what you're looking at is an unsecured loan based off of a specific device but the loan is not secured by the phone it's just owed like any other credit card simply go on Samsung's website pick example the full five put in the device you want to trade in pay the difference Samsung will ship you the new device and a return label for your trade in you must do this 15 days after receiving your new device and you're good to go

[ScottyBones]

Maybe I should have prefaced this by saying that I'm using Samsung's credit system.... 24 months 0% apr.

[Tralynn · Accepted solution]

They will allow you to trade in the phone and apply the $1000.00 off towards the new phone. You will still be paying the remaining balance on the previous phone.

[Tralynn]

@VerbumVeritum that's what I said,"you will still be paying the remaining balance in the previous phone.."

[VerbumVeritum]

@Tralynn Right, but as this is a user-based forum, individuals may not necessarily take the word of just one person who gives the correct answer alone. Best that many people agree and form a consensus than just one person "being right."

[Tralynn]

I'm not trying to be right. I'm simply answering the question. You @ me as if I did not fully answer the question. Have blessed day.

[VerbumVeritum]

I @ other users to ensure they are getting notifications from my post. 😅

Very sorry if I offended. I meant to tag the original poster. Honest mistake. It was not intentional.

[Geno71]

@ScottyBones 

As others have explained, correctly, you can trade in your phone, but you will still have to repay your remaining balance. Just to clarify, when you buy a device on Samsung credit, you own it, and can do whatever you want with it, but you're still responsible for the balance on your credit card/account. If you finance another device, your payments will stack, and you will have a larger monthly payment, since you will still be paying on the first phone, and whatever you finance for the second one.