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If you're financing your new cellphone purchase, or leasing one, you might experience several impacts on your credit. First, the creditor (whether it's the company or a partnered bank or credit card issuer) may check your credit when you apply.

End of Lease turn-in 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).

End of Lease turn-in 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).

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.

Best Cheap Cell Phone Plan Fido | Basic Plan | $15/month. Chatr Mobile | Nationwide Talk, Text & 3G Data | $25/month. SaskTel | totalSHARE Data-Only Plan | $10/month. Koodo Mobile | Prepaid Base Plan | $15/month.

Overall, the ?rent a cell phone instead of buying? model offers a high degree of flexibility and cost efficiency, especially when compared with installment plan and leasing options. It allows easy access to up-to-date devices without long-term commitments or high costs.

If you're a tech aficionado, then leasing a smartphone makes it easier to upgrade when a new model comes along. Depending on the length of the lease term, it's possible to get a new phone every year, allowing you to keep up with the latest technological advancements.