Analyze phone lease easily

Aug 6th, 2022
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How to analyze phone lease

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okay did you know that you can lease a cell phone thats right you can actually lease a cell phone instead of buying it outright and i was curious whether or not cell phone leasing is worth it so in this video im going to be talking about the different options that you have for buying a cell phone what cell phone leasing is the pros and cons of it whether or not buying a phone outright is cheaper in the bottom line of what i think [Music] hey whats up guys its justine with debt free millennials the channel to help you crush your debt and live payment free if you are new to the channel we talk about all ways to live debt free help you with your debt-free journey so scroll down and click that red subscribe button so you never miss another video from me so some of you actually didnt know what cell phone leasing was when i was talking about this inside of the debt free millennials facebook group and its something that ive had some experience with so i want to talk about this because

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Reasons to lease a phone Leasing also helps you save money in the long run if you like to upgrade your phone regularly. For example, if you lease the iPhone 11 through Sprints Flex Lease, youll only wind up paying $525.06 in total, compared to the $700 cost through competitors.
Overtime, lease payments could add up to far more than you would pay for the phone upfront assuming you dont trade your phone in every year or two. Many people dont have the money upfront and instead opt for the payment plans, but make no mistake about it, the plans are costing younot saving youmoney.
If you can be content using the same phone for two years or longer, your better off just buying your phones outright. Overtime, lease payments could add up to far more than you would pay for the phone upfront assuming you dont trade your phone in every year or two.
Your mobile provider could cut your phone off so youre unable to make or receive calls. If you dont take steps to deal with the debt, your account will default and the contract will be cancelled. The mobile provider can then take action to recover the outstanding bill, following the normal debt collection process.
Your provider can remotely restrict access to your device if you dont make payments. If your device is restricted, basic functionality, such as emergency calling and access to settings, will still be available.
Leasing a phone is similar in concept to monthly installments, as you pay a specified amount per monththe main difference between the two is that you wont keep the phone at the end of a lease, whereas the phone is yours when paid for through monthly installments.
For example, a new iPhone may cost $1,200 to buy outright. With leasing you save $300 upfront and only pay $37.50/month. After two years you can pay $300 and keep the device or hand it back and buy a new phone. If your phone has any damage (like a cracked screen), you will have to pay a penalty upon return.
If you dont pay your phone off and you fail to make payments, your phone will likely be blacklisted and the buyer will not be able to use it. That could present a host of complications and even spell legal trouble. Some stores specialize in buying locked, blacklisted and financed phones.
Leasing company owns the phone Again, thats similar to leasing an apartment or a vehicle. On the other hand, when you purchase a smartphone, its yours. That means that you can decide what to do with it, including whether to keep it or sell it to someone else.
Some utility providers will terminate service as early as one week after the bills due date and require a hefty amount of money to restore these services. Other companies, like phone providers, may shut off service anywhere between 45 to 60 days after the bill is due.

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