Lease Program

[juststart]

Is anyone else on the lease program? I've been using sprint for a month and I'm thinking of switching to Tmobile. The sprint site makes it seem like I can return the phone to a store but it's unclear if I need to pay the remaining lease months or not.

 

[kch50428]

Call Sprint or visit one of their stores...

 

[SwitchBeach]

Or read the paperwork that you signed when you entered into the lease.

 

[kch50428]

Good to see I'm not the only 'Captain Obvious' in the place...

 

[asanatheist]

Is anyone else on the lease program? I've been using sprint for a month and I'm thinking of switching to Tmobile. The sprint site makes it seem like I can return the phone to a store but it's unclear if I need to pay the remaining lease months or not.

I did a sprint lease doing the best buy one price one plan lease, which was actually a scam but that's another story.
You are past the 14 day return period (evident by your "month with sprint".
Yes you need to pay the remainder of the monthly leases. The full 12 or 24 months depending what you signed.

 

[Closingracer]

I did a sprint lease doing the best buy one price one plan lease, which was actually a scam but that's another story.
You are past the 14 day return period (evident by your "month with sprint".
Yes you need to pay the remainder of the monthly leases. The full 12 or 24 months depending what you signed.

It's not a scam ......


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[Closingracer]

Is anyone else on the lease program? I've been using sprint for a month and I'm thinking of switching to Tmobile. The sprint site makes it seem like I can return the phone to a store but it's unclear if I need to pay the remaining lease months or not.

You will have to pay off the lease term and buy the phone. In my case I have a iPhone 6 plus 128GB and paying $35 per month for the phone for 24 months. Since I had the phone for a month it would be $805 to pay the lease and then $210 to buy the device. If you cancel in 12 months $420 for the remaining lease and $210 to buy the device. In your case it's whatever your monthly payments times whatever you have left plus the buyout option on the phone


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[NadaAddict]

Don't ever lease a phone if you think you may switch carriers within the lease period.

 

[Closingracer]

Don't ever lease a phone if you think you may switch carriers within the lease period.

Don't ever finance a phone or buy it under contract either...... Your going to pay money out of pocket either way you buy it. In terms of the lease your paying how much you would of paid for in the remaining months you still owe plus the cost to purchase the phone. So if you're leasing say a iPhone 6 for $20 a month and the buyout is $200 and you have say 5 months left on the lease. You'll pay $100 for the 5 remaining months ( 5 months X $20) plus the buyout of $200 so you'll owe $300. Same with other ways to purchase phones. You'll owe the remaining amount you owe if you financed the phone or you'll lay an ETF if you get a contract.....

 

[Ledsteplin]

Don't ever finance a phone or buy it under contract either...... Your going to pay money out of pocket either way you buy it. In terms of the lease your paying how much you would of paid for in the remaining months you still owe plus the cost to purchase the phone. So if you're leasing say a iPhone 6 for $20 a month and the buyout is $200 and you have say 5 months left on the lease. You'll pay $100 for the 5 remaining months ( 5 months X $20) plus the buyout of $200 so you'll owe $300. Same with other ways to purchase phones. You'll owe the remaining amount you owe if you financed the phone or you'll lay an ETF if you get a contract.....

It's always been best to pay full price. But most folks can't afford to do that. So it's payments and contracts.

 

[Closingracer]

It's always been best to pay full price. But most folks can't afford to do that. So it's payments and contracts.

Yes but it's no worse then leasing....leasing is cheaper actually monthly and saves you the hassle of selling the phone. $35 a month for my iPhone 6 Plus on a lease vs $42 I think it was or around it to finance it at sprint

 

[anon(8191407)]

My mother is with sprint and she pays 28 a month on her j3 vs 29 on tmobile for her old 6s which I now own

 

[smccloud]

I am planning of switching to the 18 month lease program and replace it after a year. Although in switching from a Motorola G4 Plus I bought outright (Android phone).

 

[Quis89]

Is anyone else on the lease program? I've been using sprint for a month and I'm thinking of switching to Tmobile. The sprint site makes it seem like I can return the phone to a store but it's unclear if I need to pay the remaining lease months or not.

You will need to pay your remaining lease balance if you cancel prior to your lease terms. You will also need to turn the phone in.

Edit: Oops. Didn't realize this is a thread that's two years old that was revived.

 

[Delirious D]

There is a difference between a installment plan contract and lease agreement. From experience i've noticed the leasing plan are for 18 months of payment and choice to change phone or buyout the phone after that, while the installment plan are for 24 months, and you own the phone after the return period is over OR you can pay the phone off as early as you want and upgrade when ever you do that.

I have one of each on my account.

INSTALLMENT PLAN for an LG V20
- you are paying for the entirety of the device in with no apr (can pay off early if you choose)
"Prepayment: You may prepay this Installment Agreement in whole or in part at any time without penalty."
- cant upgrade until you pay off device
- you own it at the end of contract (technically you own it the minute you sign the contract) no returns

LEASE AGREEMENT for iphone 7plus
- You are paying a large portion of the phone for a shorter period and option to buy phone after term for remaining amount.
- you do not own this phone unless you buy it out after term ends
"During the LEASE, Sprint owns the device and it must be returned to Sprint when the Lease is complete. You may only purchase the device to own at the end of the lease term"
- If you terminate early, you’ll pay all of the remaining monthly Lease payments and the Purchase Option Price of the Leased device ($________ ) on your next bill. If you return the device to Sprint, only the Purchase Option Price will be refunded.
- at the end of lease you can either buy the phone for whatever amount they tell you or continue paying for it month - to - month (the way its worded sounds like you can end up paying alot more for this device then its priced for you IF dont buy it)
- if you want to leave the lease early
"Early Termination: You may terminate this Lease Agreement before the end of the Initial Lease Term by notifying us at least 30 days prior to termination, returning the Goods in good condition, paying any outstanding balance or other payments due, and paying an Early Termination Charge (defined below)."