It's all about having a strategy.

By Don Reisinger
September 20, 2017

There’s not much you can do to save money on the iPhone 8 at launch, but with some planning, you could save more than $1,600 over a two-year period.

The folks over at money-saving site WalletHub have launched a new iPhone 8 calculator to help would-be owners find the best deals on Apple’s smartphone. The calculator analyzes the total cost of owning an iPhone over two years, including the cost of buying the handset and paying for wireless carrier services. And ultimately, WalletHub discovered that Walmart’s FamilyMobile plans could save customers boatloads of cash.

According to WalletHub, mobile users would pay $1,609 over a two-year period to buy the iPhone 8 and pay for an individual Walmart FamilyMobile plan over that period. That’s $917 cheaper than the highest-priced option from Apple AAPL , which allows customers to pay for the handset in 24 monthly installments and get a Verizon individual plan for $2,526.

The savings are even higher for family plans, which would cost customers $3,082 over a two-year period at Walmart FamilyMobile. The highest-priced family plan comes byway of Apple and AT&T, which would cost customers $4,766 after paying 24 monthly payments and plan costs.

The WalletHub study looks at a variety of carrier plans, including those from AT&T T , Sprint S , T-Mobile TMUS , Verizon VZ , Walmart VZ , and Boost Mobile. Its calculator determines whether it’s better to buy an iPhone 8 outright or pay for it over a two-year period. It also looks at the carriers’ plans and their associated costs. All of the information is accurate as of September 18.

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In addition to suggesting Walmart FamilyMobile would be the cheapest option, WalletHub analyzed which of the big-four carriers are offering the cheapest options for those who want to buy an iPhone 8 when the handset hits store shelves on Friday.

On no-contract individual plans, where customers pay for an iPhone 8 upfront, Sprint is offering the cheapest cost over two years of $1,954. Verizon has the most expensive option at a cost of $2,440.

Customers who choose carrier installment plans will find that AT&T delivers the best price at $2,063 over the two-year period. It’s followed by T-Mobile and Verizon, which will offer total costs of $2,285 and $2,404 over the period, respectively.

Consumers who opt to buy an iPhone 8 on Apple’s website and sign up for a carrier installment plan there will get the best deal from Sprint at $2,040.

Sprint is similarly offering the best overall pricing on family plans, though at $4,347, it can still be expensive.

However, it’s important to note that WalletHub’s calculator makes several assumptions, including with plans. Its data is also based solely on the 64GB iPhone 8. Installment plan pricing also assumes an “excellent” credit score, so those who have lower scores might see pricing vary.

You can try out the calculator for yourself by visiting the WalletHub site.

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