Quick Answer: Is Leasing A Phone From Sprint Worth It?

Is it better to buy or lease a phone?

Leasing a phone can save you money, which is good, though usually only to the tune of $10 per month.

Buying a phone costs a little more, but at the end of a contract, leaves you with a device.

There are some catches to this, mind you, as phone leasing can still result in phone purchasing, but at a different cost..

What happens after 18 month lease with Sprint?

After 18 months, you can choose to swap your phone and keep leasing something newer, or buy the device either outright or with six more monthly installments. You can also just keep on paying the lease fee every month or return the phone to Sprint after 18 months and be done with it.

What happens at end of Sprint lease?

What happens when my lease ends? At the end of the 18-month Flex lease agreement, customers in good standing can choose to: Upgrade to a new phone. The phone you were leasing must be returned in good working condition and undamaged.

How much does it cost to cancel a Sprint lease?

The early termination fee is prorated, which means that as more time passes, you will pay less to terminate the fee. The way Sprint figures out the fee is that it charges $20 per month for each month that’s left on your contract with a maximum fee of $350 and a minimum of $100 per device.

Can I buy my leased phone from Sprint?

How can I own the device at the end of my lease? Visit a Sprint store and ask to pay the Purchase Option Price (listed on your lease agreement) and it’s all yours. Any remaining lease payments will continue until the end of your lease term.

How can I get Sprint to lower my bill?

7 Ways to Lower Your Cell Phone BillOpt for autopay. Most wireless carriers will knock $5 to $10 off your bill if you sign up for automatic payments. … Switch to prepaid. … Change or remove your cell phone insurance. … Skip the phone upgrade. … Cash in on discounts. … Add lines. … Update your service address.

What does it mean when you lease a phone from Sprint?

Some consumers want to buy their Android or Apple devices after the lease period is over. Each Sprint Lease agreement includes a Purchase Option Price. … Once their lease agreement is over, they can make the Purchase Option Price payment at a Sprint Store. At that point, they will own the device.

Do you own your phone after lease?

No, you will not own the device at the end of your leasing term. … Cell phone leasing plans are payment plans where a carrier charges you each month to “rent” their phone. A plus with leasing plans is the option to upgrade your device earlier than the typical 2-year contract plan.

Can you cancel one line of a Sprint family plan?

To cancel a line of service you would have to call in. As long as you have an active line of service you remain a customer. … Canceling one line of service may require you change the plan on the other line.

Will AT&T pay off my sprint lease?

AT&T has announced a new switching deal for prospective customers, offering to pay back your early termination and device payment charges if you make the jump to its postpaid plans. If you’re a current customer on a Verizon, Sprint or T-Mobile plan, you can claim up to $650 back for each line you port to AT&T.

Is it better to buy or lease a phone from Sprint?

Leasing your phone costs less per month than buying on an installment plan, but it could cost you more in the long run. … One carrier even lets you swap phones up to three times per year. Both Sprint and T-Mobile offer leasing options alongside their pay-to-own equipment installment plans (EIP).

What happens if you don’t return a leased phone Sprint?

If it was a “lease” you gotta give it back. Otherwise you’ll be billed for the phone. Or you can pay the buyout fee and it’s yours to keep. If you had a contract (NO monthly payments) and it ended, you didn’t terminate early, the phone is all yours and you don’t owe on it at all.

Can you pay off a phone lease early?

Buying your leased device This amounts to about 25% of device purchase price or $200 or less—basically, the difference between what you’ve already paid, and the full price of your leased phone. This remaining balance can either be paid off in one lump sum or divided over nine more monthly payments.

How can I get out of my Sprint lease without paying?

You can cancel your lease if you decide to part ways with your Sprint Flex plan before the term is up. However, this will come at a cost: You’ll have to pay the remaining balance left on your lease. You’ll also need to return the phone to Sprint (be sure to contact them and get a return kit).