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How does phone Lease 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 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.

Is it better to buy a phone or pay monthly?

'Buying a smartphone outright can be cheaper in the long run, compared to locking yourself into a two-year contract. ' But buying a phone outright isn't for everyone. For example, if you like to sport the latest handset and aren't fussed by higher monthly plan costs, then a mobile plan might suit you just fine.

What happens when you lease a 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. However, be careful if you paid $0 down. If that's the case, your payment will go up to the original monthly amount quoted for $0 upfront customers.

Is it better to buy iPhone outright or on a plan?

Many people assume that buying a phone on a contract gets you the biggest savings, thanks to telco handset subsidies. But the mobile phone market has changed. These days, you can save up to around $1,000 over 24 months by buying an iPhone outright with a SIM-only plan, rather than on a contract.

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.

What happens after phone lease is up?

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.

What happens when your flex lease is over?

When you reach the end of your leasing term on Flex, you'll have the option of buying your device from Sprint via the Purchase Option Price. This amounts to about 25% of device purchase price or $200 or less basically, the difference between what you've already paid, and the full price of your leased phone.

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