iPhone 16 Price: How Much Should You Pay?

Along with the Samsung Galaxy S25 and Google Pixel 9, the iPhone 16 is among the best phones on the market right now. Launched in September 2024, the device features a new vertical camera lens setup, a Camera Control button, and, of course, the cutting-edge Apple Intelligence platform.

The Pro line, including the iPhone 16 Pro Max, offers even more – an A18 Pro chipset that boosts battery life by 5 hours compared to the base model, plus 48 MP Ultrawide and 12 MP Telephoto cameras.

However, these upgrades are heavily reflected in the price, costing $100 more than the previous model. While the iPhone 16 certainly isn't cheap, there are plenty of ways that this device can be made more affordable.

From trade in value to financing through various carriers, in this guide, we've rounded up some of the most cost-effective purchasing options when upgrading to Apple's latest flagship device.

How Much Does the iPhone 16 Cost?

If you're planning on buying an iPhone 16 brand new from the Apple Store, you're likely to pay the original launch price. Of course, this depends on the carrier you choose – some may offer exclusive discounts and deals that reduce the overall cost. The price also varies based on the storage capacity you choose, from 128 GB to 1 TB for the Pro models.

Here's how much each model from the iPhone 16 range launched for:

Included in the cost when you buy directly from Apple are 3 free months of access to Apple TV, News+, Arcade, and Fitness+, which can also be used through the Apple Watch.

However, you'll need to purchase a new compatible wall adapter that matches the device's USB-C charging cable, as Apple no longer includes this since the iPhone 12. Other essential smartphone accessories that may push up the price include a good-quality phone case, privacy screen protectors, power banks, vehicle mounts, and phone case wallets.

iPhone 16e

For those worried about the price of the iPhone 16 Pro Max, Pro, Plus, or base model, Apple has recently announced a new addition to the family: the iPhone 16e.

This model doesn't have the same 120Hz refresh rate as the rest of the series and is limited to a 2-in-1 camera system. However, it will deliver many of the same capabilities, including the A18 Chip and Apple Intelligence features.

All of these features will come at a much more affordable price, starting from just $599 for 128GB. 256GB retails for $699, while the top 512 GB storage option will set you back $899 – the same starting cost as the 16 Plus.

Reducing the Cost of Your iPhone 16

Purchasing an iPhone 16 outright isn't your only option, particularly when it comes to lowering the price of your chosen device.

You're unlikely to find any price cuts until the next model in the series is released (the iPhone 17 or perhaps the rumoured foldable phone), but making savings is possible with a trade in smartphone or exclusive carrier financing options.

Trade In

One of the best options for cutting the cost of a new iPhone 16 is by trading in your old device.

Choose this route and you'll receive Apple trade in credit towards your new iPhone 16 to lower the purchase price. The trade in value you'll be quoted is based upon the model and condition of your trade, but generally varies between $40 and $630 per eligible device.

Starting this process is pretty simple:

1. Select your smartphone model: You'll first need to visit the Apple website and choose the iPhone you currently have. See whether your device matches the criteria for being in good condition – if so, well-qualified customers can access trade in credit.
2. Choose your payment method. Select the finance through Apple option and your trade in credit will be applied automatically. Choose "Buy" and you'll be credited after Apple has received and evaluated the iPhone's condition. Purchase your new iPhone through a carrier to receive the trade in credit as instant or bill credits.
3. Prepare Your Device for Shipping: Apple will send a trade-in kit with your new iPhone 16, which provides instructions on how to back up and transfer your data. It will also explain how to package and prepare your old iPhone ready for shipping, which must be completed within 14 days.
4. Apple Inspection: If your device matches the original condition after it's received by Apple, the trade in required will be complete.

Financing Options

As we've explored, the 128 GB iPhone 16 is priced at $799 when the handset is purchased outright through the Apple Store. However, you can instead pay $33.29 per month for 24 months at 0% APR.

Many network carriers also offer exclusive financing deals for existing customers. For example, at the time of writing, Verizon customers can purchase an iPhone 16 at a monthly price of $22.19 for 36 months.

But don't worry if you're a new customer either – many carriers change their promotions throughout the year to offer savings on all models, which apply regardless of your customer status.

The Price of Protection

Another addition to consider when it comes to the price of purchasing an iPhone 16 is AppleCare+ Coverage. This adds $119.99 per year or $11.99 each month onto the purchase of an iPhone, but provides unlimited repairs for accidental damage protection.

Apple Care+ also offers:

• Theft and loss coverage, including up to two claims every 12 months
• An express replacement service so that you don't have to wait for a repair
• 24/7 priority access to Apple experts

Another great way to protect your investment into the iPhone 16 is with a shockproof phone case. A good case keeps your device protected from drops and falls, eliminating any scratches, cracks, and internal damage that these accidents may cause.

As well as absorbing impacts, protective cases provide military-grade drop-proofing and premium water resistance to extend the lifespan of your device.

All iPhone models have slightly different dimensions, button placements, and camera lens sizes. That's why, at Ghostek, our phone cases are carefully crafted from high-quality materials especially for the iPhone 16 Pro Max, Pro, Plus, and base models.

Discover everything from cases with built-in wallets to full-body rugged shells for the iPhone 16 series at Ghostek today.