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Sprint Expands iPhone Leasing Program

Overland Park, Kansas – Sprint unveiled a third leasing option for the iPhone 6 and 6 Plus, adding a 30-month option to the current 12- and 24-month leases to reduce monthly payments by anywhere from $2 to $6.

The 12-month lease was launched only three weeks ago.

Under the leasing program, consumers can continue leasing their unsubsidized iPhone on a month-to-month basis after the original lease expires. Subscribers can also choose to buy the device or return it to lease or purchase a different device.

The iPhone lease plan, called iPhone for Life, “is the most economical way to acquire the innovative iPhone,” said marketing SVP Tom Roberts.

Monthly payments are lower than under the carrier’s Easy Pay installment-payment plans launched early this year. Under those plans, monthly payments for unsubsidized devices are higher, but at the end of a 24-month term, the customer owns the phone. Sprint Easy Pay customers also get the option to pay an additional monthly fee to obtain an early upgrade.

With the 12-, 24-, and 30-month iPhone leasing plans, lease costs for a 16GB iPhone 6 are $30, $20, and $18, respectively. For the 64GB iPhone 6, they are $35, $25, and $22. For the 128GB versions, they are $40, $30, and $26.

For the 16GB iPhone 6 Plus, the lease rates are $35, $25, and $23. For the 64GB model, they are $40, $30, and $27. And for the 128GB model, they are $45, $35, and $31. Prices exclude taxes and surcharges. No up-front payments are required.

Since it launched the iPhone for Life plan early this year, the carrier has expanded leases to the Samsung Galaxy S5 and S5 Sport and iPad Air 2 and iPad Mini 3 tablets.