Quick Answer: What Does It Mean When You Lease A Phone From Sprint?

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..

Does phone leasing build credit?

If you’re financing your new cellphone purchase, or leasing one, you might experience several impacts on your credit. … Then, your monthly payments may help you build a positive credit history if you’re making them on time. Alternatively, they could hurt your credit if you miss a payment.

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.

Should I remove SIM card before returning Iphone to sprint?

Don’t send in your old phone until you have your new phone. Remove any SIM cards or MicroSD memory cards from your phone. For your privacy, these items will be destroyed and cannot be replaced if returned to Sprint. Package your phone for shipping.

Can you return a phone to Sprint?

If you’re not mailing it in, you have to go to a Sprint CORPORATE store. After getting burned on the return package front, I decided I’d just return the phone myself to a store. But you can’t return a phone to just any Sprint store, it has to an official corporate store.

How much does it cost to lease a phone from Sprint?

Customers can get an Android device for as little as $10 a month for 18 months when factoring in promotions and discounts.

Is it better to lease or buy an Iphone from Sprint?

With a lease, the monthly hardware costs are continual. Those monthly payments tend to be lower for a lease agreement than with an EIP, just as they are usually lower over the short term when you rent instead of buy. … (Sprint also charges $10 a month on 24-month leasing agreements if you want to upgrade early.)

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.

Is leasing a phone from Sprint worth it?

Leasing a cell phone can be a good idea if you like to upgrade to a new phone every year (or thereabouts) and don’t necessarily need to own your phone. Leasing a phone can be cheaper than paying off a phone in full (whether outright or via monthly installments) and you’ll be able to get a new phone every 12-18 months.

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 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 I buy my sprint leased phone?

Purchase the device and own it. No problem! You’ll pay the Purchase Option price listed on your lease agreement. After that, you own it! Visit a Sprint store to pay the Purchase Option price.

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).

What happens if you sell a leased phone?

Selling a Leased Phone At the end of your lease, you then turn in the phone to the carrier for an upgrade instead of fully owning the device. … A leased phone must be paid off and bought out before you can sell it. Otherwise, you must return it to your carrier.

Should I lease a phone or buy it?

Yes, it saves you money, but not by a whole lot, and if your phone is damaged at the end of a lease, you may be paying extra for that phone upon return to the telco. At least paying for a phone when you buy it means that any damage you incur won’t need to be paid back to a telco.