Now is the worst time to buy a new iPhone

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• Apple is expected to unveil its new iPhones for 2021 in September.
• Even if you don’t want the new iPhone, you might find better deals on the iPhone 12 if you wait.
• The iPhone 13 is expected to be a minor upgrade to the iPhone 12.
• See more stories on Insider’s business page.

So you’re looking to buy a new iPhone? Don’t – at least not yet.

Apple is widely expected to unveil new iPhones in September, as it has done every year in recent memory with 2020 being the one exception. With that in mind, you should hold off before spending $700 or more on an iPhone 12 considering a better model will likely launch next month for a similar price.

The iPhone 13 isn’t expected to be a major upgrade from the iPhone 12, according to Bloomberg. But if you’re going to invest several hundreds of dollars on upgrading your phone, you might as well get the best one rather than investing in last year’s tech.

The iPhone 13 is will come with a newer processor, a slightly improved design with a less noticeable “notch” cutout near the top of the screen, and better video recording capabilities, reports Bloomberg. Like last year’s iPhone 12 family, the new lineup will reportedly come in four models, including the smaller 5.4-inch and super-sized 6.7-inch models.

In other words, it doesn’t sound like the iPhone 13 will be very different than the iPhone 12. That means it’s probably meant for those upgrading from an iPhone that’s already several generations old.

Maybe that describes you, but you also don’t care about having the newest iPhone. In that case, there’s no reason to wait, right? Wrong.

iPhone 12 deals are another reason to wait

Apple usually discounts older models after releasing its newest iPhone. After launching theiPhone 12 last year, for example, Apple lowered the iPhone 11’s price to $600. It also cut the price of the iPhone XR in 2019 after introducing the iPhone 11. Plus, you might want to wait and see if third-party retailers lower their prices in an attempt to clear out inventory in anticipation of the next iPhone’s launch.

If you can wait even longer, you might be able to find more deals on Black Friday in November. We saw discounts across the entire iPhone 12 lineup during Black Friday at Walmart last year, for instance.

Unless you absolutely need a new iPhone right now, you should wait for Apple’s next iPhone launch. Aside from possibly getting a better deal on older models, you’ll also be able to make a more informed decision about whether the newest model is right for you.