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Sprint owns the phone you're leasing, but Flex lease gives you choices. You get a phone today and at the end of your term decide if you want to return it and upgrade to a new one, or own it by buying it in one payment or six monthly payments.
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.
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.
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.
Sprint Flex is a new convenient way for customers to get the smartphone they want, without overpaying for the device or service. ... After you've made 18 monthly payments, you can choose to own the cell phone by paying one lump sum payment or 6 monthly payments.
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.
If you like to upgrade your cell phone every year, then leasing might be a good option. Sprint's Flex Lease lets you upgrade eligible phones (including iPhones and Samsung phones) after just 12 months, giving you the opportunity to have the latest and greatest model.
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.
If you can be content using the same phone for two years or longer, your better off just buying your phones outright. Overtime, lease payments could add up to far more than you would pay for the phone upfront assuming you don't trade your phone in every year or two.
After 18 months, you can choose to swap your phone and keep leasing something newer, or buy the device either outright or with six more monthly installments. You can also just keep on paying the lease fee every month or return the phone to Sprint after 18 months and be done with it.
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