Crowds across the country wasted little time in flocking to department stores on Friday as the highly anticipated iPhone 6 finally made its way into Australian stores.

But amid all the fanfare, long queues and tech-talk, how do you know if you’re getting the best deal? Well, we’ve done the homework so you don’t have to.

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iPhone 6 16GB

Virgin has the cheapest deal on the market for the entry level iPhone 6 16GB model with its $55 24-month plan including $300 of standard calls and texts and 300MB of data.

It sounds even more appealing when noting Virgin has pledged to boost the data allowance by 2GB per month if you ditch your current network and move across.

Optus is next best with a $60 24-month contract that includes 300 minutes of calls, unlimited texts, and 500MB of data.

Vodafone also has a low-priced $60 plan attached to the iPhone 6 but all it contains is 300MB of data.

You’d be better placed paying a little extra and jumping on board its $74 per month Red Plan, which seems like good value when you consider it comprises a tempting 3GB of data and unlimited calls.

Telstra’s cheapest option comes in at $77 under a 24-month contract, which gets you $550 worth of calls and 500MB of data.

iPhone 6 64GB 

If you’re looking for something with a bit more power, then the iPhone 6 64GB option might crop up on your radar.

Optus and Vodafone have the cheapest options for this model, at $65 per month on 24-month contracts.

Optus’s plan includes 300 minutes of calls, unlimited texts, and 500MB of data.

Vodafone’s $65 basic option has 300MB of data, but spending just $14 more for its higher-cost $79 Red Plan is the way to go for frequent phone users – it includes 3GB of data and unlimited calls.

Virgin is also driving a hard bargain and its worth considering the company’s $71 plan for the iPhone 6 64GB. It includes $500 worth of calls and 3GB of data.

It might pay to shop around before rushing off to buy an iPhone 6. Photo: Getty

Telstra’s cheapest option for the 64GB phone will set you back $82 per month for $550 worth of calls and 500MB of data.

For $13 a month more, its $95 per month plan includes almost double the calls ($950 worth), and five times the data at 2.5GB – not a bad deal.

iPhone 6 Plus 16GB 

If you’re tossing up whether to take a punt on the fancier iPhone 6 Plus 16GB, which includes a 5.5 inch screen, then Virgin is the cheapest way to go with their $60 per month plan over 24-months.

Optus and Vodafone both have $65 options, the former offering 300 minutes of calls and 500MB of data, while Vodafone’s includes 300MB of data.

Again, its $79 Red Plan has 3GB of data and unlimited calls so paying a little more seems prudent.

An iPhone 6 Plus 16GB with Telstra will cost $82 per month on a 24-month contract and that includes $550 of calls and 500MB of data.

Deal or no deal

Of course, the arrival of the iPhone 6 has caused a storm in more ways than one and lots of special deals are floating about as mobile phone providers battle it out for your dollar.

Don’t let loyalty get in the way of a good deal – you should take a look at what each provider is offering.

Both Optus and Telstra are trying to lure customers to switch networks by offering up to $200 in credit to ease any exit fees that hurt the hip pocket.

In a win for consumers, both telcos are also waiving the last three months of any termination fee if you choose to re-sign, and $250 if you choose to trade in your old phone depending on the model and condition.

Buying outright

Many people might consider buying the iPhone 6 outright. That can be a good option if you enjoy the flexibility of not being committed to a lock-in contract.

The iPhone 6 is retailing for $869 outright. The iPhone 6 Plus for $999.

For older models, The iPhone 5s 16GB costs $749 outright, and $799 for the 32GB model.

An iPhone 5c with 8GB capacity costs $529.

For those totally uninterested in staying at the cutting edge, it might pay to keep an eye on these older models as their currency fades.

Virgin currently has a $60 plan under a 24-month contract for the iPhone 5s 16GB that gives you $500 of calls and 3GB of data.

The same model is even cheaper with Optus at $55, but includes only 300 minutes of calls and 500MB of data.

The verdict

In the end, while the shiny new iPhone 6 might look appealing, you need to find out whether it’s right for your circumstances.

According to research from the Australian Consumer Action Network, only half of Australians take full advantage of the value included in their phone plan.

In saying that, the competition between telcos has never been so fierce, so if your phone is on its last legs or your unhappy with your current provider, then it might be time to take the plunge and look at some of the new deals on the table.