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Can you keep a leased phone?

If you decide to keep leasing the phone after your agreement ends, you can keep paying the same monthly amount for as long as you wish to lease your device. If you do decide to purchase your phone out-of-term you will have to pay the 'fair market value' of the device.

What happens if you don't return a leased phone?

Even if you return a phone, you could be charged for both the phone and additional fees. If you return a phone within the 14-day trial period of signing up, you're charged a restocking fee and possibly other costs. Even if you can figure out how to return a leased phone, they still bill you for it.

Do you have to return a leased phone?

You must return your device in good working condition and undamaged. You will be charged a fee if you don't erase the content and settings on your iPhone before returning it. You have 30 days to return your phone, or you will be charged additional fees.

What happens if you sell a leased phone?

Selling a Leased Phone You may be wondering if you can sell a leased phone the same way that you can sell a phone on an equipment installment plan. Unfortunately, the answer is no. A leased phone must be paid off and bought out before you can sell it. Otherwise, you must return it to your carrier.

What does Sprint do with returned phones?

Sprint's original recycling program launched in 2001, but it wasn't until 2009 that it tried something new by piloting ERC's system, which allows store employees to look up any phone to see its current market value. Sprint keeps its own phones that can be resold and sends all other phones to ERC for reuse or recycling.

What happens if you don't pay off your iPhone?

If you do not pay when they bug you, they go to court and get a judgement against you — no problem, they have a contract. They take the judgement and go to your employer and have your wages garnished — meaning taken — to pay down the bill. So your paycheck gets smaller. As I said, you will pay.

Do I own my phone after lease?

No, you will not own the device at the end of your leasing term. However, you do have the option to buy your phone at the end of the term by paying the balance off. Cell phone leasing plans are payment plans where a carrier charges you each month to “rent” their phone.

What happens when your phone lease is up?

Purchase Option Some consumers want to buy their Android or Apple devices after the lease period is over. Once their lease agreement is over, they can make the Purchase Option Price payment at a Sprint Store. At that point, they will own the device.

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