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Are you one of those folks who have been holding on to your older model iPhone for some time? Are you still rocking your old iPhone 4 or 4S? Apple has a program designed to get you into a new iPhone 5S, iPhone 6 or other newer model device.
It's called the Trade Up With Installments plan, and it basically allows you to trade in your current iPhone (or Android or Windows), and you will be able subtract the value of that trade-in from the cost of any newer iPhone starting with the iPhone 5S. You will then divide that number by 24 months and that will be your installment price/monthly payment.
The value of the trade-in is stated by Apple's chart, (shown in the images in the thread below), and is subject to the usual restrictions of a working device. It is only available in the U.S. and only from an Apple retail store. The new iPhone you choose will have a price determined by the chart, and the price does not include AppleCare+.
Finally, the Trade Up With Installments plan does not promise you a new iPhone each year (unlike the iPhone Upgrade plan), but the iPhone you receive will be carrier unlocked.
For more info here's Apple's landing page: iPhone Trade-in - Apple