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Is it better to buy or lease a phone?

Leasing a phone can be cheaper than paying off a phone in full (whether outright or via monthly installments) and you'll be able to get a new phone every 12-18 months. ... It may seem like leasing your cell phone isn't a good idea, but for some, leasing could actually save you money in the long run.

How does leasing a phone work?

Simply sign a lease deal, and in exchange for a low monthly payment, you get a phone you can use, plus the option to upgrade at any time. Just keep paying the flat monthly fee, and you can turn in your old phone for a new one every 12 months. One carrier even lets you swap phones up to three times per year.

Is it a good idea to lease a phone?

Leasing a phone can be cheaper than paying off a phone in full (whether outright or via monthly installments) and you'll be able to get a new phone every 12-18 months. ... It may seem like leasing your cell phone isn't a good idea, but for some, leasing could actually save you money in the long run.

Do you need credit to lease a phone?

But can you lease a smartphone with no credit or bad credit? ... Generally speaking, leasing payments will be lower than financing, because they don't require payment of principle. However, if you take an early upgrade option, which allows you to get out of the lease early, the monthly payment can be higher.

Does T-Mobile lease phones?

T-Mobile today announced a new smartphone leasing program called Jump On Demand. ... Jump On Demand does allow for the option to pay a final fee to purchase the smartphone after 18 months of payments have been made, or customers can trade it in for a new one and continue their monthly payments.

How does the Sprint lease work?

When you sign up for Sprint Flex lease, you'll make a fixed monthly payment for your device over an 18-month period, but you're not paying off your phone or tablet in order to own it. Instead, you're merely leasing the device from Sprint, and the carrier will still technically 'own' the gadget you're using.

How does the sprint Flex Lease work?

Customers who sign up for Sprint Lease, now known as Sprint Flex, will get to lease a new smartphone or tablet from Sprint. They will pay a low monthly fee to lease the device, and at the end of the leasing period, they will return it to Sprint or pay an additional amount to own it.

How long is a Sprint phone lease?

Apple's iPhone Upgrade Program has a lease period of 24 months (you can get a new phone after 12 payments), while Sprint's iPhone Forever agreement runs 18 months (you can upgrade after 12 payments) and leasing an Android device from Sprint requires a 24-month agreement.

Do I have to lease a phone from Sprint?

Lease to Own Your Phone Sprint gives you three options: Buy the phone before the end of your lease: You'll need to pay all remaining lease payments and the purchase price of your phone. Buy the phone at the end of your lease (18 months): Pay the purchase price of your phone either in one payment or over 6 months.

What is the Sprint 18 month Flex Lease?

The Flex lease program is fundamentally an 18-month lease not installment purchase plan on a smartphone. Customers have the option to upgrade to a new phone after 12 months, hand the device back after 18 months, or make six more months of payments and own the device outright.

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