The iPhone is a great product but the way it's financed is brilliant. I suspect not many people buy their new phone with a $1000 charge on their debit card and that new phones are always financed. I use a 6s, available used for $70 all in, and it gets the job done.

Carriers finance the new model at a seemingly low rate ($15/mo.) then charge more on the wireless service. I can get the $15/mo phone, but only at the $60/month plan not the $35/month plan. If I don't pay, the product is worthless (no service).

You can calculate the amount of housing or auto debt that is out there, but have always wondered how much 'iPhone debt' is outstanding w the wireless carriers?