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Thread: Sprint Flex Lease vs Regular Lease

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    Sprint Flex Lease vs Regular Lease

    Should I consider the Sprint Flex Lease?

    How is it different from the old Lease?

    How hard is it to get out of?

    If I leave Sprint will other carriers pay it off?

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    Quote Originally Posted by techfranz View Post
    Should I consider the Sprint Flex Lease?

    How is it different from the old Lease?

    How hard is it to get out of?

    If I leave Sprint will other carriers pay it off?
    From how I understood it basically mixed with easy pay you can make payments on it until end of the lease and by the end if you want to keep the phone you can just pay it off between the full balance and how much you paid so far so it's mixed with Easy Pay. Some phones you can upgrade after a year

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    Don't lease, its a huge rip-off and basically a contract. You're basically paying upwards of 80-90% of the full price, but have to return the phone within 18 months. Marginally over the same period you'll spend more out of pocket on a new phone than buying one at full price when they go on sale. For example, Best Buy regularly has flagship phones on sale for $200-400 via bill credits or gift card, that's a phone you can keep and sell. In fact, I say never buy a phone from a carrier because you never know at some point in the future you'll need to switch or have financial difficulties.

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    Quote Originally Posted by b1geast View Post
    Don't lease, its a huge rip-off and basically a contract. You're basically paying upwards of 80-90% of the full price, but have to return the phone within 18 months. Marginally over the same period you'll spend more out of pocket on a new phone than buying one at full price when they go on sale. For example, Best Buy regularly has flagship phones on sale for $200-400 via bill credits or gift card, that's a phone you can keep and sell. In fact, I say never buy a phone from a carrier because you never know at some point in the future you'll need to switch or have financial difficulties.
    From the new sprint flex lease plan it mentions you can keep the phone and pay off any remaining with how much has been paid from the time you started up until paying off phone time. At least that's how I read it

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    The idea behind leasing is that you never pay full price for the phone. If you want the convenience of only dealing directly with Sprint and not venturing out into the used handset marketing, leasing is for you. If you're going to look at it dollar for dollar, the used market will have better deals for you.

    Don't see leasing as necessarily a ripoff. Understand that part of what you're paying for is convenience.

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    Quote Originally Posted by VisionsDivine View Post
    The idea behind leasing is that you never pay full price for the phone. If you want the convenience of only dealing directly with Sprint and not venturing out into the used handset marketing, leasing is for you. If you're going to look at it dollar for dollar, the used market will have better deals for you.

    Don't see leasing as necessarily a ripoff. Understand that part of what you're paying for is convenience.
    There is no convenience to a lease because you have to return the phone in its original condition (who hasn't dropped, nicked, or damaged their phone), otherwise you still pay full price. This allows them to up-sell phone cases and insurance. By the time you walk out the door, you're paying more than a regular finance agreement. Plus, you're stuck making perpetual lease payments over the lifetime of your service instead of owning a phone. You're typical lessee will end up spending more out of pocket because payments never end. The lease benefits the carrier by locking you into a 18-24 month term. Also the lease price is usually 90% of the full price, which is much more than a average sale price (e.g. LG and Samsung phones are 30-50% off 6 months after release). This of course doesn't even take into consideration things like needing to switch carriers or financial hardships. Renting a phone is about the dumbest thing you can do today.

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