Apple's recent event at its new Cupertino campus unveiled three brand new iPhones, the iPhone 8, 8 Plus, and the most expensive iPhone yet, the iPhone X, which is sold at $999. To aid people in purchasing the devices, Apple is including it in its upgrade program, wherein customers can pay for the phone in monthly installments, instead of shelling out the full price. In the program, customers can get the iPhone X for a monthly cost of less than $50.

The Apple Upgrade Program allows the customer to spread out the payment for the iPhone in 24-month installments with 0% interest. After at least six months and 12 payments, the customer will be eligible to trade in his or her iPhone and upgrade to a newer one.

Upgrading to a new iPhone is not a requirement in the program. Once a customer completes the 24 payments, the phone is his or hers to keep.

Purchasing the new iPhone X under the Apple upgrade program will cost the customer a monthly payment of between $49.91 for a 64 GB model and $56.16 for the 256 GB model.

For the iPhone 8 and 8 Plus, customer will have a lower monthly cost. The 64 GB model will cost $34.50 for the iPhone 8 and $39.50 for the 8 Plus. The 64 GB unit, on the other hand, will cost a monthly payment of $40.75 for the iPhone 8 and $45.75 for the iPhone 8 Plus.

Previously, the upgrade program required customers to go to an Apple retail store in order to trade in their phones for a new one. But recently, Apple introduced a slight but helpful change in the process. Customers will now be able to sign up for the upgrade online and mail in their old phones instead of physically taking them to a store.

Once the new iPhone ships, the customers will receive a Trade-in Kit with a prepaid shipping label. They would have to send the old iPhone back to Apple within 14 days.