Apple just made it easier to upgrade to the latest iPhone

Subtract the value of that trade from the cost of a new Apple iPhone, and divide that number into 24 months.

A brand new 128GB iPhone 6s Plus costs $44.91 a month with the iPhone Upgrade program. In other words, these iPhone users are stuck with a 4-inch screen when Apple would prefer that they upgrade to a newer model.

Shoppers buying a new iPhone on installments can now trade in an old phone for a discount on their monthly fee. You’ll have to complete all 24 monthly payments of the iPhone Upgrade program or pay off the rest of what you owe in one go before trading in your old iPhone.

CNET has a good breakdown of what you’ll pay based on what phone you’re upgrading from. With Apple’s new initiative, a new factor is thrown in depending on the model of iPhone that users are looking to pay off on the 24-month installment plan.

Previously, Apple Stores took trade-ins for credit towards a new phone, and iPhones could be purchased on installment plans, but there was no way to combine the two.

You can trade in an iPhone dating back as far back to the iPhone 4. It’s an alternative option to the existing iPhone Upgrade Program and trade-in Apple Store credit opportunities the company offers at its stores.

According to Apple, Trade Up With Installments is “really geared toward people who have older generation iPhones”. If you’re switching from the iPhone 4 to the 128GB iPhone 6S Plus, for instance, you’ll pay $35.37 a month. The loan is handled by Citizens Bank, that will, if approved, purchase the phone on your behalf and setup monthly payments that are the strictly the price of the device minus the price of your trade-in. The program starts today, and is likely to prove popular not only because it is can be used by Android handset owners, but also because there is no commitment to getting a new iPhone every year.

Apple didn’t’ disclose how much you’d get for an eligible Android phone.