A new report from personal-finance website WalletHub could save new iPhone 7 users thousands of dollars.

With the new iPhone 7 set to launch on Friday amid rumors of sold-out pre-orders and intrigue regarding Apple’s decision not to disclose launch weekend sales, the personal-finance website WalletHub released the results of its iPhone Savings Report to help consumers make sense of all the different pricing options and find the best deal.

More specifically, WalletHub used its Cell Phone Savings Calculator to compare the various ways that people can purchase the iPhone, evaluate the wide range of associated coverage plans and determine when someone is better off simply keeping their current phone.

  • Individuals who want the new iPhone can save up to $1,074 by opting for a no-contract plan from RingPlus Mobile over the same types of plans from T-Mobile and Verizon.
  • Individuals can save up to $1,324 by keeping their old phone and getting coverage from the Walmart Family Mobile.
  • Families can save up to $1,705 for four lines with 12GB of data by choosing a no-contract plan from RingPlus Mobile over an Apple instalment plan from AT&T ($4,694).
  • Families can save up to $2,294 by keeping their old phones and getting coverage from RingPlus Mobile.

WalletHub’s Cell Phone Savings calculator allows users to input their upfront and monthly costs in order to directly compare the true cost of two-year contracts, installment plans and no contract plans from all of the major carriers.  You can check out the calculator – along with WalletHub’s embeddable infographic comparing plans offered by AT&T, Sprint, T-Mobile, Verizon and more – here: https://wallethub.com/cell-phone-calculator/

(Source: WalletHub)