Deciding whether to buy or lease the iPhone 7 depends largely on how often you want to upgrade and your budget for upfront costs. While the iPhone 7 is an older model, the financial principles of ownership versus leasing remain consistent with when it was first released.

Should I take the free iPhone 7 deal or lease my next phone?

Leasing is generally best for those who want a new phone every year and have the disposable income to support a permanent monthly payment.