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What is a phone lease?
Leasing a phone is similar to leasing a car. You lease a great phone for a low monthly payment. At the end of your lease term, you simply turn in the leased phone to Sprint and upgrade to the latest & greatest phone. That means no more drawers full of old phones that you don't know what to do with!
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.
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.
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.
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.
Can you pay off a phone lease early?
Once consumers make 12 consecutive payments, they can return the phone to Sprint and lease or purchase a new one. Consumers will stop paying the early upgrade fee as soon as they return the device. Then, they can add it to their next device if they wish, so they can upgrade in a year once again.
Can you pay off a phone early?
In general, you only have the option to “Pay-to-Upgrade”, “Early Full Payoff”, or continue your monthly payments. You can pay it off early, but you generally can't pay extra without paying the full balance.
Can I pay off my phone contract early sprint?
If you decide to cancel your lease before the 18-month lease term is up, Sprint will require you to pay the remaining lease payments as well as the Purchase Option Price. After this, you are free to leave and take your device with you.
Can you pay off iPhone installments early?
The iPhone Payments plan is a loan financing program that lets you make monthly payments across 24 months on an iPhone. Even if you get rid of the iPhone a year or the day after you've made your final payment, you must pay the full amount (though you can pay the loan off early).
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