iPhone 16 Pro 1 TB: Why renting is the cost-effective alternative to buying

Stay up-to-date, without the financial commitment with Sloop.

Apple has just launched the iPhone 16 – faster, bigger, smarter... than the iPhone 15 (which, of course, was faster, bigger, smarter than the iPhone 14). Sound familiar? If you’re someone who upgrades regularly, you know the cycle never stops.

It’s not just a few tech enthusiasts who can’t resist the latest iPhone. A Finder study revealed that 29% of Australians upgrade their phones every two years or less. That includes 7% who swap out their device annually and 2% who are switching it up every six months. 

So, if you’re wondering how many people are on the lookout for the latest model at any given moment, that’s over five million Australians eager to upgrade for something newer, faster, and smarter. But does that mean you have to keep spending thousands every year just to stay up to date?

Why Renting is the Future of Tech Ownership

In a world where we’re already used to subscription-based models for everything from streaming services to rental cars, why are we still shelling out thousands to own our phones? With the rising cost of living and the relentless push for newer, better models, buying a phone outright is starting to feel like an outdated concept.

The iPhone 16 Pro 1TB, priced over $2000, could be a dream upgrade for several iPhone users running older models. The tech upgrades in terms of camera, screen, battery life, and AI features might even make the price seem worth it.

But even if you can stomach that upfront cost, the real kicker comes when the new model drops, leaving your not so new device depreciating before your eyes. So, while paying full price for a phone seems like a smart financial move in the long run, it doesn’t take into account the cost of regular upgrades or the fact that you’re locked into that phone for years.

Traditional Ownership vs. Rental Ownership of the iPhone 16 Pro 1TB with Sloop
When you purchase a phone from a physical retailer, you typically have two options:

• Pay Full Price: Drop over $2,000 upfront. Yes, it’s yours, but once you walk out the door, your phone’s value starts dropping. Want to upgrade next year? You’ll be left with a depreciating asset, forced to sell or trade it in at a fraction of the price you paid. While you can choose the interest - free payment options which allow payment over 4 months the problem still persists.

• Interest-Free Plan: While several physical stores offer a 24-month plan, that means you’re tied to one device, paying a monthly fee that still adds up to thousands of dollars. And, when you’re finally free to upgrade, the market price of your phone has already dropped, leaving you with far less than you originally paid.

Rental Ownership of the iPhone 16 Pro 1TB with Sloop

When you choose Sloop, you're opting for flexibility, convenience, and affordability. Unlike traditional financing options, renting with Sloop prioritizes access over ownership. You get to enjoy the latest iPhone 16 Pro 1TB without the hefty upfront cost, and when your initial rental period ends, you have the freedom to upgrade to the next model with no strings attached.

More Flexible and Cheaper Than Traditional Finance

While retailers tie you into long-term contracts with interest or hefty upfront payments, renting with Sloop is more affordable. You’re paying a fixed monthly fee that won’t fluctuate with interest, so you always know exactly what you’re getting into. Plus, once your rental term is up, you can upgrade seamlessly without the hassle of selling or trading in your old device.

No Application Process

Forget about jumping through hoops for approval or waiting days for credit checks. With Sloop, renting your device is as easy as selecting your plan, signing up, and having it delivered right to your door. We complete credit checks within 24 hours and provide you with an instant response. It’s simple, fast, and hassle-free with no complicated paperwork involved! 

Long-Term Rental, Long-Term Relationship

Sloop is built on long-term relationships, meaning you'll always have access to the latest tech as it’s released, without the financial strain. This ensures that you're never stuck with an outdated device and that you get the best value every time you renew your rental contract.

Early access benefit

By choosing Sloop, you're joining the growing trend of tech renters who understand the value of staying up-to-date without the financial burden of traditional ownership. With the first-mover advantage, you're ahead of the curve and enjoying the newest features without straining your finances.

Sustainable Business Model

Not only is renting with Sloop financially smarter, but it’s also more sustainable. Instead of being left with an outdated phone that contributes to e-waste, the device is returned to Sloop and reused, creating a more sustainable business model that helps reduce the environmental impact of electronic waste.

Rent to buy 

Sloop also gives you the option to own the device if you love it. Just rent the device for 24 months and keep it after your contract ends.

Direct Comparison: Sloop vs Physical Retailers

While rent-to-buy is a concept we’re used to in some areas, it’s still fresh in the tech world. And it comes with endless. With Sloop, it’s not just the latest iPhone you can rent; you can also enjoy a variety of top-tier tech gadgets like the iWatch, iPad, AirPods, and more from our ever-growing rental catalogue. Upgrade to the latest tech whenever you want, without the burden of ownership or depreciation. Why settle for one when you can upgrade, switch, and enjoy the latest tech on your terms?