The base iPhone 16 starts at $799, but the actual cost depends on storage size, color, and where you buy it
Apple sets the official price for a new iPhone 16 at $799 for the standard model with 128GB of storage. That is the price you will see on Apple's website and at most major retailers like Best Buy, Verizon, AT&T, and Target. If you want more storage — 256GB or 512GB — the price goes up by $100 for each step. The iPhone 16 Pro and Pro Max cost more: the Pro starts at $999, and the Pro Max at $1,199.
The price does not change based on which color you choose. All colors cost the same. What does change the total you pay is whether you buy it outright, finance it through a carrier, or trade in an older phone. A trade-in can reduce what you owe when ready, though the amount depends on the condition and model of the phone you turn in.
Key Takeaways
- The standard iPhone 16 costs $799 for 128GB storage, with $100 added for each storage upgrade to 256GB or 512GB.
- The iPhone 16 Pro costs $999 and the Pro Max costs $1,199, both starting at 128GB storage.
- Carrier financing spreads the cost over 24 to 36 months but often requires a phone plan or adds interest, so the total paid is higher than the sticker price.
- Trading in an older iPhone can lower your out-of-pocket cost, but the trade-in value varies by phone model and condition.
- Prices are the same whether you buy from Apple, a carrier, or a third-party retailer, though promotions and bundle deals differ.
How carrier financing changes what you actually pay
Most people do not pay $799 upfront. Instead, they finance the phone through their carrier — Verizon, AT&T, T-Mobile, or another provider. When you finance through a carrier, you pay a monthly fee added to your phone bill, usually spread over 24 or 36 months. The monthly cost is roughly $33 to $50 depending on the model and the length of the payment plan.
The catch is that carrier financing often requires you to keep an active phone plan with that carrier for the duration of the contract. If you switch carriers before the phone is paid off, you may owe the remaining balance in full. Some carriers also charge interest or require you to upgrade your plan to a more expensive tier, which means the total cost of owning the phone is higher than the sticker price.
Apple also offers its own financing through Apple Card, which lets you pay monthly with no interest if you pay in full within 12 months. After 12 months, interest applies. This option is available only if you have an Apple Card and buy directly from Apple.
What trade-in value actually means for your wallet
When you trade in an older iPhone, the retailer or carrier subtracts that value from the price of the new phone. Apple, Best Buy, Verizon, and AT&T all run trade-in programs. The amount you get depends on the model, storage capacity, and physical condition of the phone you are trading in.
An iPhone 15 in good condition might be worth $300 to $400 toward a new iPhone 16, which would bring your out-of-pocket cost down to $400 to $500. An older iPhone 12 or 13 might be worth $150 to $250. A phone with a cracked screen or battery issues is worth less — sometimes $50 to $100 or nothing at all if the damage is severe.
The trade-in value is not the same across all retailers. Apple, Verizon, Best Buy, and Target sometimes offer different amounts for the same phone. It is worth checking multiple places before you trade in, because a difference of $50 to $100 is common. Some carriers also run promotions where they boost trade-in value for a limited time.
Where to buy and whether the price changes
The official retail price of $799 is the same at Apple, Best Buy, Verizon, AT&T, T-Mobile, Target, and Walmart. You will not find a cheaper iPhone 16 at one retailer than another — Apple controls the price. What does change is the financing terms, trade-in offers, and bundle deals.
Verizon and AT&T sometimes offer bill credits if you switch to them or add a line. Best Buy occasionally runs promotions where you get a gift card with purchase. Target sometimes offers a discount if you use a Target RedCard. These are not discounts on the phone itself — they are incentives to buy from that retailer or sign up for a service.
Buying directly from Apple gives you the option to finance through Apple Card with no interest for 12 months. Buying from a carrier locks you into their financing terms and phone plan requirements. Buying from Best Buy or Target gives you more flexibility to choose your own carrier and financing, but you lose carrier-specific promotions.
Why the price is what it is
The $799 starting price reflects Apple's costs for manufacturing, research, design, and distribution, plus their profit margin. The iPhone 16 includes a new processor (the A18 chip), a camera system, a display, and software support for several years. Apple also builds in the cost of customer service, warranty coverage, and the retail stores where you can get help.
Storage upgrades cost $100 each because flash memory — the chip that stores your photos, apps, and files — has a real material cost. Moving from 128GB to 256GB doubles the storage capacity, and Apple passes most of that cost to you. The Pro models cost more because they include a better camera system, a larger screen, and faster processing power.
The price does not include sales tax, which varies by state and county. In most places, sales tax adds 6 to 10 percent to the final cost. Some states have no sales tax, and a few have lower rates for electronics.
Refurbished and older models cost less
If you do not need the newest model, you can save money by buying a refurbished iPhone 16 or a previous-generation model like the iPhone 15. Refurbished phones are returned or display units that Apple or retailers have cleaned, tested, and certified to work like new. They usually cost 10 to 15 percent less than a new phone and come with the same warranty.
An iPhone 15 now costs less than the iPhone 16 because it is no longer the current model. Prices for older models drop over time as new ones are released. An iPhone 15 might cost $600 to $650, and an iPhone 14 might cost $450 to $500. The older the phone, the lower the price, but also the shorter the period Apple will support it with software updates.
Frequently Asked Questions
Does the price include AppleCare or a warranty?
No. The $799 price includes a one-year limited warranty that covers manufacturing defects, but not accidental damage or battery replacement. AppleCare+ is an optional monthly subscription (usually $4 to $8 per month) that covers accidental damage, battery replacement, and extends coverage to two years. You can add it when you buy or within 60 days after purchase.
Can I buy an iPhone 16 without a phone plan?
Yes. You can buy an unlocked iPhone 16 from Apple, Best Buy, or Target and use it with any carrier. Buying from a carrier (Verizon, AT&T, T-Mobile) sometimes locks the phone to that carrier for a period, though you can usually unlock it after you finish paying. Unlocked phones cost the same as carrier-locked ones, but you have more freedom to switch carriers later.
What if I buy the iPhone 16 and the price drops later?
Apple rarely drops the official price of a current model. Prices stay the same for about a year until the next model is released. If you buy within a few weeks of launch and the price drops, most retailers will not refund the difference. Some credit card companies offer price protection that refunds the difference if the price drops within a certain period — check your card's benefits.
Is it cheaper to buy an iPhone 16 in another country?
Prices vary by country because of taxes, import duties, and local pricing strategies. An iPhone 16 might cost less in some countries and more in others. Buying internationally and bringing it to the United States is legal, but the phone may not work with all carriers, and you lose the ability to use Apple's U.S. warranty or return policy. It is usually not worth the hassle or risk.
Do student discounts or employee discounts explore to the iPhone 16?
Apple offers a small education discount (usually $50 to $100 off) if you are a student or work at a school. Some employers offer discounts through their benefits programs. Verizon and AT&T sometimes offer discounts to military members, first responders, or employees of certain companies. Check with your school, employer, or carrier to see what discounts you may have access to.