Integrate Phone Lease For Free

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.

If you decide not to keep the phone, you must turn it in at a T-Mobile store. You can then decide to start a new lease on a new phone, or talk with our team about other upgrade options, such as an Equipment Installment Plan (EIP). When you return a leased phone, it must be in good working condition.

Key Takeaways. Premium smartphone models can easily sell for $1,000 or more on average. Leasing a smartphone offers the benefit of being able to upgrade to the latest models regularly without incurring contract fees. Keeping a smartphone at the end of a lease term may require paying a buyout fee to purchase it.

Leasing a phone is similar in concept to monthly installments, as you pay a specified amount per month?the main difference between the two is that you won't keep the phone at the end of a lease, whereas the phone is yours when paid for through monthly installments.

Phone leasing agreements Once the leasing term is up, you can either swap the old phone for a newer one (at likely a more expensive leasing cost), pay off the remaining cost of the phone immediately to own it outright, or switch to an installment plan to pay off the remaining cost that way.

Here's how it works when your lease is up. Upgrade to a new device. Bring your leased device to a T-Mobile store and swap it out, up to once a month. ... Pay it off in 9 payments. You can elect to pay it off over 9 months following the end of your lease. ... Purchase your device. ... Turn in your device.

Let's Talk Tip: Progressive Leasing through Cricket Wireless is a better installment option than carriers that use Affirm or SmartPay because Progressive Leasing doesn't charge you interest. Keep in mind, you have to pay a $50 down payment.