Unfortunately, the offer is only available in stores, but it appears to break down similarly to Rogers’ $1 iPhone 12 trade-in deal. With Bell, customers who trade-in “select devices” get a credit they can apply to the iPhone 12. When combined with the ‘Device Return Option,’ which reduces the monthly device financing cost if customers agree to return the phone after 24 months, the monthly device financing fee drops to less than $1.
Bell doesn’t specify which devices users can trade-in for the deal. The carrier likely offers different credit values based on the device, it’s condition and other factors. Rogers’ deal specified trading in an iPhone XS or XR for a $360 credit — the math appears to work similarly with Bell’s offer.
Bell currently offers the 64GB iPhone 12 for $0 down and $38.33 per month for 24 months (a total of $919.92, which is less than Bell’s listed outright price of $1,164 and cheaper than the $1,129 Apple charges for the iPhone 12). If you apply the Device Return Option, Bell reduces the financing by $540 (about $22.50 per month), which means you’ll pay $15.83 per month in financing. Again, the catch here is you’ll need to return the iPhone 12 after 24 months or pay Bell the 540 difference.
Here’s where the trade-in credit comes in. Customers who trade-in a phone can apply the credit to the financing cost. A device valued at $360 would cut the financing cost by another $15 per month ($360 / 24 = 15), leaving customers with less than $1 per month in financing costs. Of course, the financing cost will fluctuate depending on the value of your trade-in — for example, a trade-in worth $240 would leave you with a $5.83 per month financing cost.
Although neither Bell nor Rogers’ deals are particularly great, I’d say the math works out in Bell’s favour on this one since it offers the iPhone 12 for a lower total cost than Rogers does right now. It’s also worth noting that Telus charges the same amount as Bell does for the iPhone 12. Although Telus hasn’t advertised a trade-in deal like Bell or Rogers, presumably you could do a trade-in and reduce the monthly financing cost with Telus as well.
If you’re curious how much you could get for your old phone in trade-in, Bell lets you get an online estimate here, and Telus lets you get an online estimate here (both carriers list the iPhone XS as eligible for up to $360 in trade-in credit). It’s worth keeping in mind that the online tool gives an estimate and once in-store, you may get a different value for the device if it’s in poor condition.
You can check out the Bell offer on the carrier’s promotions page.