Here’s how to get the best deal on the brand-new iPhone 6s

The iPhone 6s hit the shelves on Friday, and Apple lovers everywhere rejoiced. But the good old days when Verizon, Sprint and T-Mobile offered iPhones for $199 with a two-year contract have come and gone. With a multitude of new pricing plans emerging, consumers have many factors to consider before making their next smartphone purchase.
If you want to buy an iPhone 6s but aren’t sure which pricing plan won’t bleed you dry, here are some of the best and worst deals, according to WalletHub’s Cell Phone Savings Calculator.
Comparing Sprint, T-Mobile, AT&T and Verizon service plans, the cheapest overall option for individuals and families is Sprint’s Lease Plan. T-Mobile’s Lease Plan is the second cheapest for both families and individuals.
The most expensive option for individuals is buying a phone on the AT&T network with Apple’s Installment Plan.
The most expensive payment plan for families is having a two-year contract with AT&T.
That said, the “best deal” varies by individual depending on what network offers consumers the best coverage in their particular city or region.
“For most people, since they don’t tend to travel extensively, [the best deal] means who has the best service and coverage for your local area,” said Tuong Nguyen, principal research analyst at Gartner Personal Technologies. “Imagine buying ‘the best’ phone from another country, bringing it home to discover it won’t work in your country, or half the features are unavailable where you live.”
The numbers also reveal that the most efficient way to keep your cell phone bill low is to hold onto a single device for more than two years. By your iPhone’s third birthday, you will have saved up to 30% by only paying for service, WalletHub reports.
Further, utilizing family plans, regardless of carrier, can provide four phone lines and four-times the data for only about double the price compared to individual plans, according to WalletHub.
WalletHub’s study analyzed the two-year cost of buying an iPhone 6s considering different carriers and various payment options, such as a subsidized phone with a two-year contract, a no-contract purchase, a leasing plan and an installment plan, either via Apple or a carrier.
Carriers facilitate the purchase of a $650 iPhone 6s for consumers who meet certain criteria.
For example, if you already have an iPhone 6 or 6 Plus paid in full and want to upgrade to the iPhone 6s, Sprint and T-Mobile are offering some of the cheapest deals around. On Wednesday, T-Mobile announced its “Jump on Demand” deal, which is $5 a month for iPhone 6s 16GB and $9 a month for iPhone 6s Plus 16GB. A day later, Sprint offered a similar “iPhone Forever” program, which offers the iPhone 6s 16GB for $1 a month and the iPhone 6s Plus for $5 a month when you trade in your iPhone 6.
However, it’s important to note that these deals can expire. At the end of the 21-month lease period, Sprint will increase the price to $22 a month. T-Mobile’s $5-a-month price will continue for as long as you own your iPhone 6s, but if you upgrade to another phone more than three times in 18 months, then the lease price may increase.
Mr. Nguyen argues that the variety of deals that carriers offer is to the benefit of the consumer.
“The competition itself is good for us,” he said. “It brings pricing pressure and will compel the carriers to offer better/more service offerings to remain competitive.”