Use 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.

At the end of the lease term, you have the option to: Return the phone and lease a different one. Sign a new lease for the same smartphone. Purchase the smartphone that you've been leasing.

You never truly own the phone. Limitations on unlocking the phone. If the phone is lost or stolen, you are still responsible for paying for the phone you no longer have; this also applies to damage. If the phone is damaged, you most likely won't be able to return the phone or will have to pay a fee to return 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.

Leasing a smartphone is something you may consider if you would rather not be committed to a single phone model for the long term. It also could be a good fit if you have calculated the cost differences between buying a phone outright and leasing and have determined that the latter is less expensive.

You'll need to pay any remaining lease charges and then decide if you want to return the phone to Sprint or buy it. Paying for the phone(s) or returning them to Sprint will complete your commitment and end any future charges.

On Demand?the leasing cost is determined by the cost of the phone. You can upgrade your phone at any time, up to every 30 days. After 18 months, you can choose to pay off your phone over an additional 9 months to own the device, purchase it outright, or turn it in.