Buying smartphones has become a significant investment. Sure, there are a few solid and cost-friendly options out there, but take taxes and accessories into consideration, and you’re looking at shelling out at least a few hundred dollars. And that is excluding a service plan!

Fortunately, getting a good deal on a new phone is still possible. Follow our tips on how you can purchase a mobile device at the best possible price.

Timing Is Important

The suggested retail price (MSRP) by a manufacturer is nothing but a suggestion. Phone prices vary significantly according to the product life cycle, time of year, and planned promotions. Allow yourself time to shop around and keep track of prices, and you might be able to land a flagship at a mid-range price.

But remember that once you’ve got the right phone at the right price, you’ll need to act quickly, especially if the carrier is the one behind the offer. Flash promotions and sales can end fast, and if you miss one, you’ll perhaps have to wait for a minimum of a few weeks before a similar deal comes by.

Go Holiday Shopping

Shopping for a phone during the holiday season can fetch you big wins for your wallet. This doesn’t mean waiting until Black Friday is necessary. A majority of manufacturers and carriers provide some kind of promotion for every holiday in the U.S. (as well as non-holidays like Apple’s Back to School Promotion and Amazon Prime Day).

Carrier Promotions

At times, purchasing a mobile device from a carrier can be beneficial. For example, some promotions by some carriers have new subscribers receive a prepaid gift card after they’ve had service for a specific number of months. Others ensure that rebates are credited to your account between 18 and 24 months. Thoroughly reading the terms and conditions behind any promotion is essential for the surety that it’s a commitment you intend to make.

Buy an Unlocked Phone

Although purchasing an unlocked phone may not score you big savings at checkout, it can be more valuable in the long run. Unlocked phones give you the opportunity to move and shop around among a range of carriers for the best deal. They tend to not come with as much bloatware (preinstalled software) as carrier phones, so you may not have to add more storage.