Overland Park, Kansas – Sprint expanded its Sprint Lease program to the Samsung Galaxy S 5 and Samsung Galaxy S5 Sport, having limited leasing until now to the iPhone 6 and 6 Plus.
The program, called iPhone for Life when applied to the new iPhones, lets users pay off an unsubsidized phone over 24 months, after which the user gets several options. One is to turn in the leased device and lease another phone that is available for lease with zero down, or get another device under a separate Easy Pay installment-payment program. Another option is to purchase the leased device at an amount set forth in the customer’s lease agreement. Sprint said the basis upon which it determines the amount of the purchase price is proprietary.
The third option is to continue leasing the device on a month-to-month basis, and the fourth is to return the device in good working condition and terminate service.
For the Samsung devices, the lease payments for new and existing customers and businesses are $20/month.
Sprint Lease is available only through Sprint-owned stores and Sprint-branded stores operated by independent retailers.
The carrier continues to offer its Easy Pay installment-payment plans launched early this year. Under it, a customer purchases a device with monthly payments over a 24-month term. At the end of that term, the customer owns the device. Sprint Easy Pay customers also get the option to pay an additional monthly fee to obtain an early upgrade.
Lease payments for the Samsung phones and iPhones are less than the Sprint Easy Pay payments for the models, a spokesperson told TWICE. A consumer can get the iPhone 6 (16GB) for $20/month for 24 months by leasing, and the Sprint Easy Pay payment would be $27.09 per month.
With both types of payment plans, iPhones are sold with special unlimited talk and data plans at $50/month for single users, less than the $85/month if the phones are purchased at a subsidized price of $199 with a two-year contract.