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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 phone lease is up?

What happens when my Sprint Flex lease is up? Own your phone: if you've completed your Sprint lease, you'll have the option to buy the phone. At 18 months, customers can pay the purchase price option with one lump sum payment or 6 monthly payments. After month 18: Pay the Fair Market Value price.

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.

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.

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.

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 my phone lease is up with Sprint?

Some consumers want to buy their Android or Apple devices after the lease period is over. Each Sprint Lease agreement includes a Purchase Option Price. 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 18 month lease with Sprint?

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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