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The Impending iPhone Subprime Crisis

My old iPhone was a real trooper

This is something I always knew deep down inside. I just couldn’t bring myself to put pen to paper. Then again, I consistently used up my talk time and texts in older plans. Generally leaving me with overage charges far beyond what I’m paying now. I like my phone. Sure, I can’t afford to eat, drive or go to school at the moment, but hey, I can check my e-mail on my phone. That’s just too crazy to pass up.

Then again he does bring up a pretty good point.

rickyv:

Since there are no results on Google for this term, let me be the one to coin it.

The iPhone Subprime Crisis is what will happen as a result of Apple lowering the point-of-entry price of a new iPhone while increasing the overall cost of ownership over the two year term of the contract (up to $2700!).

People who thought they couldn’t afford an iPhone when they cost $400 now (falsely) feel like they can afford one when it’s $200. After a few months of heavy bills, as the “cell contract foreclosures” begin, look out for a lot of used 3G’s coming to eBay.