Based on surveys from vendors who sell electronics, Apple’s iPhone has been a consumer favorite for the longest time now. Like many other tech companies, Apple is always busy cooking up the next better version of their flagship phones – be it the device itself or the next OS upgrade.

However, recent news indicates that revenue-wise, Apple is losing its ground. Android phones are fast becoming the go-to device of many. With this info, it’s not surprising people are weighing things down when deciding when to buy a new phone. More than ever, they try to decide whether to get an old model and (possibly) spend less or wait for the new one and spend more.

The Right Timing

The truth is, the right time to buy your next phone is when the actual need for it arises. Say, you use an iPhone 5s as a work phone and it died on you in the middle of a busy season, will you delay doing something about it? If there is no more hope for your dear “old” device, will you wait it out until Apple announces its next release? Probably not.

The decision to buy or not to buy gets easier if you have a backup phone. When the current unit fails on you, you can always resurrect the old one hidden in your drawer until you have to time (and money) to buy a replacement.

However, if you don’t have a backup unit, buying a new iPhone (not necessarily the newest model) is rather mandatory. If you have the budget for it, then go ahead and get yourself the latest model. It’s the “right timing” after all. Otherwise, choose the best phone you can buy with your emergency funds. Just take into account how important the phone is for your day-to-day life. This way, you can choose the device based on the features you absolutely need.

The Waiting

If you just want or need to have the latest iPhone, waiting is better. After all, that new version will surely be faster (or bigger, or lighter) and the price is just the same as a brand new older version. So, that older iPhone priced $650 last month will appear more expensive and impractical if you won’t buy a much newer version in September or October, which Apple will sell at the same price.

When deciding when to buy, remember that the newer version does not necessarily make the older one obsolete or useless. That older version is still just as functional and feature-packed.

To Buy or Not to Buy

Here’s one quick tip: refer to buyer reviews first if you are shopping around for a new device. This will give you ample time to think things through, compare, and make an assessment based on what others say and based on what you really need and the budget you have.

There are a variety of resources online you can choose from, including ours. Look around, evaluate, and see if it’s really the right time for you to trade in your old iPhone with a new one.