Apple’s Trade Up With Installments plan is now available to French, Italian, and Spanish iPhone owners (via setteB.IT). With this plan, users can use their old iPhone as a down payment towards the purchase of a new iPhone under a 2 year installment plan.

In retrospect, it’s very similar to the iPhone Upgrade Program in the U.S., but with smaller down payments because it’s using your old phone as a down payment.

While the interest-free credit is great, it’s probably not worth it. Apple is offering less than €100 for your phone, while you could sell it on eBay for effectively double. But for those who wan’t to take the simpler route, this may be for you.

For example, if you trade in an iPhone 5s for an iPhone 6s, you’d pay €27.56/month for two years with the total of €661.44 instead of the €749 when you purchase it at full retail price.

It’s also worth noting that the value of your old phone relies heavily on the condition of the phone.

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