Yeah, so for example, the iPhone XS is $49.91 a month on that plan.
It gets you AppleCare+. After a year you can trade and simply reset your payment end date.
If you keep your phone for two years the payments and AppleCare+ stop, and you keep the phone.
It costs the exact same price as the phone with AppleCare+, spread over 2 years. In that sense if you don’t intend to ever upgrade it’s a fine deal.
Trading in after a year means you’ve paid $598.92 for use of the phone for a year, which I personally don’t think compares that well with just selling every year on your own with Swappa or eBay.
One issue with it is...If you only keep your phone a year do you really need AppleCare anyway?
Doing the math on reselling yourself shows that it makes more sense.
iPhone XS 64GB are going for $761 on Swappa.
Swappa will take 10% from the seller, bringing you down to $684. Let’s say $675 including your shipping cost.
So you’ve bought a $999 phone and sold it for $675 a year later meaning you paid $324 for the phone over a year.
If you are bad at math enough to buy AppleCare you might now be at $524, but you can also sell phones for a bit more if they have AppleCare remaining.
Still, your worst case scenario is that you beat the iPhone upgrade program by about $80, but more realistically you’ve probably beat the price by almost $300 just by buying and selling on your own.