BY: ELIZABETH HARPER
All the major carriers are moving away from traditional two-year contracts, and leasing options are now springing up. But plenty of variations exist.
You may lease a car or rent an apartment, but what about a smartphone?
What Does it Mean to Lease Your Phone?
All of the major wireless carriers now offer leasing plans, in which a customer pays a monthly fee to use their phone, and they can then trade it in for the latest model whenever they like.
But you never actually own your phone. Sure, we don’t typically use our old phones, but when they can be sold for cash, do you really want to just hand them over?
The big advantage of these leases though is the lack of up-front costs. Even subsidized with a two-year contract plan, a new top-of-the-line smartphone can easily cost you $200 out of pocket on top of the monthly service fees. And for those who want a new phone every year, one of these programs can even save money by letting them upgrade more regularly, without penalties or the need to pay for a pricey, full-cost smartphone.
Read more here about …
- Subsidized Phones!
- When Not to Lease a Phone
- Every Major Carrier’s Leasing / Upgrade Plans
- and more …..