Would You Lease A Cell Phone Instead Of Buying One?

Discussion in Phone, Internet & TV started by Diane Lane • Apr 13, 2016.

  1. Diane Lane

    Diane LaneWell-Known Member

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    A friend is looking into cell phone plans with Sprint, and noticed that there's an option to lease a phone, rather than buying the phone. It seems as if the price of buying is good, once the down payment is made, since there really isn't much of a difference between the price with a high end phone versus a less popular one. It seems the difference is that after a year, those leasing will be given the option to upgrade to the newer model, but from what my friend said, it seems as if those leasing phones pay more for data plans.

    I'm old fashioned, and prefer to own my items, whether they be a vehicle or cell phone, and would prefer to keep my phone for a few years, rather than upgrading yearly. If I did decide to upgrade, I'd probably choose to sell my phone privately, rather than selling it back to the provider, since I could make more money that way.

    Would you lease a phone rather than buying one? Have you? I'm really not clear on the benefits of doing so.
     
  2. Theo

    TheoWell-Known Member

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    I can't see the point of leasing a phone unless you can't pass a credit check to get a contract. PAYG is always an option, and can be cheaper, you just have to be clever about how you use your phone. The only benefit it appears is to upgrade faster, but if you don't bother doing that, then there is no advantage IMHO.
     
  3. Destiny

    DestinyActive Member

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    That's actually a pretty good idea so you can always upgrade to the latest smartphone. They're always cimg out new and awesome phones, seems like there's a new one everyone I turn around.
     
  4. Diane Lane

    Diane LaneWell-Known Member

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    I think it does depend on the availability of funds, how important having the latest technology is to you, and is also purely a matter of personal preference. I know a lot of people like having the newest version of a vehicle, while others prefer the tried and true, and will stick to their older model, even when money is not an issue. It seems technology falls into the same category, and if available as an option, some will lean toward opting to replace their current phone as often as possible.
     
  5. Ke Gordon

    Ke GordonWell-Known Member

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    That is interesting. I didn't even know they did that. I mean in my case, since I have bad internet, I am not sure if it would really benefit me to upgrade to another phone. It just seems like it would be adding another bill..but if the cost was not too much, maybe it would be worth it. I do go shopping sometimes in area with better internet service, and I am certain technical phone features would be better with a higher quality phone.
     
  6. xTinx

    xTinxWell-Known Member

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    If you do the math, you'd realize that you're actually paying more when you lease a cellphone than when you buy a prepaid unit subject to your own personal preferences, free time and user pace. Postpaid plans require a contract and you have to fulfill your part of the bargain. Otherwise you stand to gain nothing. You won't get to own the unit until you've managed to complete the "locked in period."
     
  7. djdontpay

    djdontpayActive Member

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    It depends. I mean I would if I was just visiting some country on a short trip or something because then buying the whole package would make no sense. Other than that I wouldn't lease it because in the long run, leasing would cost me more.
     
  8. gmckee1985

    gmckee1985Active Member

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    Yes, leasing a phone is definitely reasonable and worth it. Of course, it depends on the company and the type of phone that you want, but in my instances I've found that it it's a good deal, and tends to be better for people who don't have a lot of money to put towards contracts or buying the whole phone up front.
     
  9. DrRipley

    DrRipleyExpert

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    I guess I'd need to calculate everything but if the math checks out and I feel like I won't be paying as much for the price of not having something I could sell later on then I would definitely consider it, especially since I would also be given the chance to upgrade later on. Just guessing on the terms of it, though, I can't imagine it being that much more beneficial or disadvantageous either way and probably it's just another equal alternative since I'm sure the companies offering these services also have done their math as well to cover their ground. For me, I think either option would be equally good as owning my own phone also comes with many disadvantages too anyway.
     
  10. MrsJones

    MrsJonesActive Member

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    I'm with @Ke Gordon@Ke Gordon, never knew leasing a cell phone was available. I also agree with @xTinx@xTinx. You are always paying more to lease anything. One would be better off just buying a phone outright.

    It doesn't surprise me that Sprint would offer such an option though. Anyway to capture another piece of the market.
     
  11. Lushlala

    LushlalaWell-Known Member

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    When mobile phones first came out, it seemed like a very attractive and reasonable offer. So for that reason, i've had a contract in the past. But over the years, I did the Math and thought, hang on a minute; I'd do well to save up and get the phone I want outright and then control how much I spend every month. I tried it and it does work out a lot cheaper. I also don't like being locked into a contract. If I still lived in the UK, maybe I could consider one of the cheaper options. In Botswana....no chance! The contracts are beyond expensive. I even wonder if anyone is biting anymore!

    I used to have a nice arrangement with Orange UK; where I bought my own phone, paid £10 on a monthly roll-on-roll-off contract, which I could terminate any time I wanted. Each month, I got a lot of phone credit that I was never able to exhaust. I thought that was the best package ever! I doubt I'll ever go back to leasing a phone.
     
  12. DiscountDreams

    DiscountDreamsActive Member

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    I'd always prefer to own a lightly used, slightly older phone. It's one thing to not own your phone and it's another to be responsible for it as someone else's, which is what the lease is. It's not something I'd ever consider.
     
  13. morgoodie

    morgoodieActive Member

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    I have not heard of leasing a phone, but if it is cheaper then I do not see why not. I guess it would also depend on whether or not you want to upgrade each year or not. If that is not important to you then it probably is not a good idea to lease the phone. I would have to check out all the benefits first before deciding.
     
  14. DanielleDavidson

    DanielleDavidsonNew Member

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    Hmm that's interesting. I didn't know that Sprint was doing that. I do like the idea though, because it's a good option for the people like me who like to get a new phone each year. The only thing that does stink about the plan is that you can't keep the phone. I do think that I would do that though.
     
  15. sidney

    sidneyWell-Known Member

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    I don't think I would even consider leasing a phone, since lots of old cellphone models have drastically reduced prices, so I will just buy one instead of leasing one.
     
  16. remnant

    remnantActive Member

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    The best alternative to buying an item is leasing it if it is expensive. If it is a feature phone or a smartphone, the best option is to buy one. For more expensive gadgets, its cool to lease since the unit cost of leasing would be affordable as compared to the price of the item. But leasing works better in organizations since the owner of the capital item is charged with the responsibility to carry maintenance operations. This does not apply to personal lease.
     
  17. Denis Hard

    Denis HardWell-Known Member

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    If I had to spend more on data plans and upgrade each year then I wouldn't lease a cell phone. For people who want to impress their friends with their new phones year after year, this would be great for them. For someone like me however who hardly ever uses a phone save for calling a friend or acquaintance occasionally, I wouldn't lease a phone. In fact as I hardly ever call people or use a phone to browse the net, even upgrading the old ones can take a while [5 years at least].
     
  18. ThesePretzels

    ThesePretzelsMember

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    No I wouldn't consider leasing a phone, I'd rather stick to older models or just buy a low-end model. Leasing has got to be a better deal than the upgrading subscription system Apple has going, but I'd rather not be on the hook, especially for such a relatively inexpensive item.
     
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