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How To Get Your Own Smartphone – Even When You Don’t Have The Money

September 1, 2016 | Comments Off on How To Get Your Own Smartphone – Even When You Don’t Have The Money

The mobile phone, originally designed to allow people to communicate while travelling, has evolved into a device that makes a fashion statement besides all its other functions. So now everybody wants to own the trendiest phone in town. The only problem is that they are expensive. So phone companies have come up with payment plans to help their customers own their dream phone even when they don’t have the money.

Rent–to–own

This is a great way to rent a phone if you have neither the money nor a good credit history. The Benefits of renting an appliances it is an easy payment scheme where the monthly payment is typically less than in a lease, but you will have to make payments for longer. They don’t need as much paperwork as you would need if you were to loan money. So you can rent iPhone 6 plus or some other high end phone even when you don’t have the money up front. 

However, it is a well-known fact that by the time you make your last payment you would have paid well above its original price. Also after you complete your payments and fully own the phone your phone would have become out-of-fashion.

Lease it

Want to rent a Samsung galaxy s5, but want to change it when the next best camera phone with a fingerprint scanner comes around? Leasing is the best option for those people. In a lease agreement you will make regular payments until your contract expires. After that you could return your phone or get it upgraded to a new one.

At first the companies had payment schemes where you can only upgrade your phone after the two year contract expires, but now they have introduced schemes which allow you to upgrade your phone before the end of your contract. However, this option is not for those who tend to drop their phone often or put it in the washer. If there are any damages when the phone is returned a significant payment will have to be made as per their request. So make sure you are aware the payments you have to make if your phone is damaged.

These are the two most common methods that people use to buy the phone of their choice. Their main attraction is the lower price they have to per week or per month. They are great options for those who wish to keep up with the trends. It also allows you to invest the money you would otherwise have spent, had you paid in full, in a good project as an additional source of revenue.