It's decision time again for iPhone owners. With Apple's newest wave of smartphones starting to arrive Sept. 16, and pre-orders beginning Friday, you may be asking yourself: Do I need to get an iPhone 14?

The answer depends on several factors including how much you can spend, plus how – and how much – you use your iPhone, and how old is the smartphone you currently use.

Four new options await potential upgraders: the iPhone 14 ($799-up) and the higher-tech iPhone 14 Pro, both with 6.1-inch displays; the larger iPhone 14 Pro Max (starting at $999), which has a 6.7-inch display; and iPhone 14 Plus ($899), also with a 6.7-inch display, which arrives Oct. 7.

Many consumers are experiencing growing pains in regards to their smartphones because about one-fourth of them have not upgraded their device in 3½ years, said Daniel Ives, a technology analyst with investment bank Wedbush Securities.

With inflation hitting consumers in other areas, that's one reason Apple did not raise prices on its devices, he said. And why consumers can expect significant deals from cellular carriers to encourage sales. "That's going to catalyze a lot of upgrades," Ives said.

Should you buy a new iPhone?

There are many reasons to get a new smartphone – and there's some reasons to stand pat, too.

►Has your iPhone lost its mojo? If you've got an older model and it's running slow – or maybe it's a bit banged up – now might be a good time to replace your phone.

If the screen on your iPhone is cracked or your battery capacity had dropped to 80% or below, repairs are called for. A new screen can cost $200 or more for more recent models if you do not have AppleCare+. Apple charges $49-$69 (without AppleCare+) to replace a battery that holds less than 80% of its maximum capacity.

If you don't want to invest more in your current phone, that could be a sign that it's worth trading it in on a new one.