Buying a new phone usually feels like a trap. You walk into a store, and suddenly you're staring at a $1,200 glass rectangle that costs more than my first car. But honestly, you don't need to spend that much. Not even close. If you're hunting for the absolute lowest entry point into the Apple ecosystem in January 2026, the landscape has changed quite a bit from even a year ago.
Between the new "e" series and the aging SE models, finding the sweet spot is actually kinda tricky. You've got to balance the price you pay today against how many years the thing will actually last. Nobody wants a "cheap" phone that stops getting security updates in twelve months.
What Is the Cheapest iPhone Right Now?
If you want a brand-new device straight from Apple, the iPhone 16e is basically the new king of the budget mountain. It launched late last year as a streamlined, "essential" version of the flagship, and it currently sits at $599.
Now, I know what you’re thinking. "$600 isn't cheap." In the world of Apple, though? It’s the floor.
The 16e is a weird, interesting beast. It uses the A18 chip, which means it actually supports Apple Intelligence—the AI features everyone is talking about—unlike some older, more expensive models. You're getting the modern internal power but with a single rear camera. If you don't care about ultra-wide shots or macro photography, it's a steal.
But wait. What happened to the iPhone SE?
The iPhone SE (3rd Gen) is technically still floating around at some third-party retailers like Amazon or Walmart for about $429, but it's getting really hard to recommend. It still has that tiny 4.7-inch screen and the physical home button. It looks like a relic from 2017. Unless you absolutely must have Touch ID, the 16e is a much better investment for the long haul.
The Used and Refurbished Wild West
This is where things get actually cheap. If $600 is too much, you need to look at the secondary market.
- iPhone 14 (Refurbished): You can find these for around $270 to $300 on sites like Back Market or Plug Tech. It’s a solid phone. It has Face ID, a decent OLED screen, and great battery life.
- iPhone 13: This is the "old reliable" of 2026. Refurbished units are hovering around $240. It’s basically the same as the 14 but a tiny bit slower.
- The "Under $200" Club: You can find an iPhone 11 or 12 for about $150. But honestly? Don't do it. The battery life on used iPhone 12s is notoriously "meh," and the iPhone 11 doesn't even have 5G. In 2026, buying a 4G-only phone feels like buying a DVD player. It works, but the world has moved on.
The SE 4 Rumor Mill
We have to talk about the elephant in the room: the iPhone SE 4.
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Every reliable leak points to a launch in the next couple of months (likely March 2026). It's rumored to finally ditch the home button for an iPhone 14-style design with an OLED screen and USB-C. The expected price? Around $499.
If you can wait eight weeks, you should. Buying an iPhone 16e for $599 today might feel like a mistake if a $499 phone with a similar design drops in March.
Why the Cheapest Option Might Cost You More
There is a hidden cost to being cheap with tech. It's called the "support window."
Apple is legendary for supporting old phones, but they eventually cut the cord. If you buy an iPhone 12 today because it's only $180, you might only get one or two more years of major iOS updates. After that, your banking apps might stop working. Your favorite games will lag.
The iPhone 16e, on the other hand, will likely be supported until 2031.
What to look for when buying "Cheap"
- Battery Health: If buying used, never accept anything below 85% maximum capacity.
- Storage: 64GB is a prison sentence. 128GB is the bare minimum for 2026.
- The Screen: Older budget iPhones used LCDs. Modern ones use OLED. The difference in how Netflix looks is night and day.
I've seen people buy "renewed" iPhones from sketchy eBay sellers only to find out the screen was replaced with a cheap third-party part that doesn't support True Tone. It's worth paying the $30 extra to buy from a reputable site like Apple’s own Certified Refurbished store or a high-rated seller on Back Market.
Apple’s official refurbished store currently has the iPhone 15 for $529. That is arguably the best "middle ground" deal right now. You get the Dynamic Island and USB-C without the $800+ price tag of the iPhone 17.
Actionable Next Steps
If you need a phone this second and have a strict budget, buy a refurbished iPhone 14 for under $300. It hits the perfect balance of price and modern features.
If you want something brand new that will last five years, get the iPhone 16e for $599.
However, if your current phone isn't literally shattered in pieces, wait until March 2026. The expected launch of the iPhone SE 4 will likely reset the entire budget market, either by giving you a better $499 option or by forcing the price of the 16e and refurbished 15s even lower. Set a price alert on a site like CamelCamelCamel or Slickdeals for "iPhone 15 Refurbished" and watch for it to dip below the $500 mark.