It’s been over 10 years since the iPhone’s inception, and in the eyes of many, it’s become an institution in its own right. Exhibit A: Apple was the smartphone industry’s “big winner” in Q3 of 2016, with over 100 percent of smartphone industry profits, according to a report from financial services provider BMO Capital Markets. (FYI: This is possible because other smartphone makers lost money during the period.) As for this quarter? The average selling price of smartphones had been declining for six years, but models suggest it will rebound in 2017-2018, fueled by the new iPhone models.

That’s good news for the business, but how about for consumers? The iPhone X retail cost ranges from $999 to $1,149, depending on storage, the iPhone 8 will set you back $699 to $849 and the iPhone 8 Plus rings in at $799 or $949. If you’re set on purchasing the new model but don’t have that amount of upfront cash to spare, we did the legwork comparing iPhone financing options with Apple, AT&T, Verizon and T-Mobile. Note: There are many similarities, but a few important differences, which is why we’re giving them to you one by one. It’s not necessarily that one is the better deal than the other (unlike the service prices, which vary widely) — it’s just that the terms are slightly different.

Carrier contracts may soon be a thing of the past, and most carriers offer some sort of month-to-month agreement — but if you do finance through them, they kind of have you on the hook.

Carrier contracts may soon be a thing of the past, and most carriers offer some sort of month-to-month agreement — but if you do finance through them, they kind of have you on the hook.

But before we give you the rundown, here’s one thing to keep in mind: Carrier contracts may soon be a thing of the past, and most carriers offer some sort of month-to-month agreement — “but if you do finance through them, they kind of have you on the hook,” says John Oldshue, owner of SaveOnPhone.com. “Not only will they come right after you for the rest of the money if you decide to switch carriers in the middle of that time period, but some have a penalty for leaving the carriers.” As always, ask questions and read the fine print before entering into any sort of contract.

Apple

Payment Installment Program: The bottom line: You pay the phone’s full retail cost but split over 24 months — no added fees. So, an iPhone 8 Plus starts a monthly $33.29 and X at $41.63. The only time you’ll end up paying more than the retail amount is if you in some way default on the loan, according to Apple. As with most refinancing options, it does involve a “mini-loan” — financed by Citizens Bank — and if you go into the Apple Store, you fill out an online application. The monthly payment goes to the lender, Citizens Bank. Note that you will still need a carrier — Apple’s payment plans mean you’re buying the phone itself, but you’ll still need service for it.

iPhone Upgrade Program: If you’re looking to stay up to date with the newest product every year, Apple…