Any reason not to go with the Easy Pay plan if buying on Sprint?

Discussion in 'iPhone' started by intervenient, Sep 14, 2014.

  1. intervenient macrumors 6502a

    Joined:
    Jul 9, 2010
    #1
    If I sign a two year contract it's $400 upfront, and $80 a month for unlimited everything. If I do easy pay, it's $0 upfront, and $50 a month for unlimited everything because of their promotion, and ~$35 a month for the phone.

    That's about a ~$300 difference from getting a new two year contract and I'm not locked into a two year contract. I've never done a plan like this, so I really don't know the pros and cons and all the literature seems a little convoluted.

    Thanks guys.
     
  2. cinealta macrumors 6502

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    Dec 9, 2012
    #2
    Read Sprint's fine print but my understanding is that with the 2 yr contract you own the phone outright. With Easy Pay, you are leasing (renting) the phone for $35/month and don't own it after 2 yrs.
     
  3. intervenient thread starter macrumors 6502a

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    #3
    So even when I finish paying off the phone at the end of 24 months, I still have to send it back to Sprint?
     
  4. cinealta macrumors 6502

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    Dec 9, 2012
    #4
    Sorry I was wrong. AFAIK, Easy Pay you get to keep the phone but pay $840 for it over 2 yrs. With a 2 yr contract the phone is subsidized so you pay less for it.

    I was thinking about the "iPhone for life" plan where you lease it and don't own it.
     
  5. intervenient thread starter macrumors 6502a

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    Jul 9, 2010
    #5
    Alright that makes sense. So is there really a downside of the promotion their doing right now with the $50 data a month with Easy Pay? Will the rates go back to the usual $80 after a certain amount of time?
     
  6. AntnyMikal macrumors regular

    AntnyMikal

    Joined:
    Jun 2, 2012
    #6
    I'm looking into this myself, I think the easy pay is the best option. I'm gonna hit up my store tomorrow and get some answers though, the fine print has a couple things that aren't clear. Rates may only good until the end of 2015 and something about being able to fully upgrade early again for 5$ a month.

    Either way I'll be sure tomorrow
     
  7. SoloStyle macrumors regular

    Joined:
    Oct 17, 2011
    #7
    Sprint is pushing everyone towards Easy Pay these days, so read the fine print. Depending on your plan, you may have an Access Fee, or a higher access fee if you already have one, by choosing to renew and get a subsidized phone.

    Example: I'm on the new Family Share Plan which starts at $100 and then includes a $15 access fee for each line. If any line renews and gets a subsidized phone, the access fee for that line goes up to $40, in order to make up for the difference of having such a low cost plan. :roll eyes:

    In this situation, it was better for me to go with Easy Pay.
     
  8. intervenient thread starter macrumors 6502a

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    Jul 9, 2010
    #8
    Yeah, It was the end of 2015 thing that I read too that prompted this thread! Post back tomorrow with your findings!
     
  9. cinealta macrumors 6502

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    Dec 9, 2012
    #9
    Read Sprint's fine print. Here's some of it but there is more I recall seeing in a different webpage:

    "Sprint Easy Pay: Req. 24-mo. installment agreement, 0% APR, & qualifying device & service plan. Credit approval req. Device pricing for well-qualified buyers. Monthly payment terms for all others will vary and a down payment may be required. Down payment, unfinanced portion and sales tax (on full purchase price) due at purchase. If you cancel wireless service, remaining balance on device becomes due. Early Upgrade for Easy Pay: Req. active add-on thru time of upgrade with min. 12 consecutive payments of both the add-on and an installment agreement for phones, new phone Installment Agreement, acct. in good standing, & give back of current eligible device in good & functional condition. After upgrade, remaining unbilled installment payments for giveback device are waived. Requires enrollment within 30 days of new activation or upgrade on eligible phone."
     
  10. AntnyMikal macrumors regular

    AntnyMikal

    Joined:
    Jun 2, 2012
    #10
    Couldn't make it today, so I'm going in the morning tomorrow. Can't get a chat either, and the store line was busy all day.

    I'm also wondering does the easy upgrade option have the premium data charge 10$ for smart phones? Is that the access fee, will it only apply to family plans etc.? Hate how phone companies language is so shady.
     
  11. powerstrokin macrumors 6502a

    powerstrokin

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    May 18, 2013
    #11
    In my case, I was on the Everything Data 450 plan. (Long discontinued, got on that plan in 2008)

    I was eligible for an upgrade. Could have gone subsidized and paid $200+ up front.

    Could have switched to Easy Pay and paid taxes up front and owned the phone after all payments.

    Could have switched to iPhone For Life plan and paid $0 up front, option to purchase the phone for $200 at the end of the two years and also upgrade for free whether purchasing phone or not.

    I chose the iPhone For Life plan. It will cost me the same per month as I have been paying for years, and I won't have to pay for the phone up front since I'm leasing it. If I want to buy the phone at the end of the terms, I can, and that would put me at the same price overall versus just staying on my old plan and paying the $200 up front. With the new plan, I will have unlimited EVERYTHING though, where I was limited to 450 anytime talk minutes before. Also this way, I'm able to upgrade to a higher priced phone whereas if I was paying up front I probably would have stayed with the 16GB phone for $199.

    Another advantage I see to this is the moment I am able to purchase the leased phone- I can make a judgment based on the market value at the time. Is it worth it to buy it for $200 if I can sell it for more? Or would I be losing money? If I purchase the phone up front, and the market dives, I'd be out any potential gains. Just the way I look at it anyways.

    ----------

    Sprint doesn't charge the $10 premium data fee for any of the new plans. As with all the other carriers, they've simply adjusted prices elsewhere to make up for it so you won't see an 'extra' charge...its just in there.
     
  12. MichaelMidnight macrumors regular

    MichaelMidnight

    Joined:
    Feb 20, 2008
    Location:
    Los Angeles
    #12
    Let us know if you learn anything more if you go to the store. I'm also interested with the iPhone for Life program. I sort of like your plan of waiting at the end of terms and seeing whether it'll be prudent to buy the phone and sell it higher or just renew and get a new phone.
     
  13. AntnyMikal, Sep 16, 2014
    Last edited: Sep 16, 2014

    AntnyMikal macrumors regular

    AntnyMikal

    Joined:
    Jun 2, 2012
    #13
    Any reason not to go with the Easy Pay plan if buying on Sprint?

    Went to the store today. Cleared up a few things, my store will be getting some phones on Friday, some will be reserve/preorder and some will be store stock.

    They don't know what model/color/or size or how many, could be 3 could be 30 etc. maybe some +s maybe not. Confirmed they will open early and have 2 separate lines.

    Easy Pay- is leasing/renting but you own the phone after 24 payments, or at any point in the contract you can pay it off in full and that charge will be dropped from your plan. Initially it is 10-15$ more a month on the phone payment depending on model and requires a down payment plus the tax. 60$ plan plus phone cost, could be 80-95$ depending on phone picked single line plan.

    Ip4 life- no down payment, do have to pay the tax. Don't own phone after 24 payments but can pay sub at the end and keep phone or nah, and get new upgrade with no charge except tax. Plan is 50$ plus phone cost, could be 70-85 depending on phone picked single line plan.

    On family share at the 100$ rate you pay 15$ per line plus the phone cost i.e. 2 lines would be
    100$-20gb data unlimited talk and text
    +30$ (15$) x2 phone access fee
    +40$ (20$) x2 iPhone 6 16gb (iPhone 4 Life) upgrade option
    -170.00 plus tax

    If you buy the phones and change to the plan with the same scenario it would be130.00$
    Add another of the same phone it would be 145.00$ if bought outright which would basically be 50$ a month which is pretty good.

    Then there's also the trade-in credit, minimum of 200$ and it goes up depending on model, size etc.
    and even better if you qualify for a discount( students, business, military, vet. etc.etc.)

    Just for example, we paid a little over 200$ a month for 3 iPhones on the old plans.
    Now with 3 if we don't upgrade, our bill would be 145$ plus tax, and a 20% percent discount off the 100$(=80$then) for the family plan, which would then be 125$ plus tax for 20gb on 3 devices.

    If we go 6 16gb and 6+64gb on the easy pay it would add 25$ +35 for those models, roughly, so now 125$+60$=185$ still cheaper than before and with new phones on early upgrade option, if we did the same but used iPhone for life it would be like 170$ a month.

    You could also apply all the trade credit to one phone and buy it outright, easy pay the other and still get down to 150$



    Activation fee applies to all new lines/device unless waived etc.

    Rep not 100% sure but confident they will receive phone shipments 1 to 2 shipments a week for reserves and store stock after initial launch, similar to 5s, which I got in store while everyone else around here was waiting for preorders which was the last of a Friday shipment on Saturday evening.

    Nothing's guaranteed, but I'll take my chances in store stalking for a 6+ rather than the 4-6 weeks and we'll take your money now route.

    Grain of salt. YMMV.

    I HAVE 3 stores within 10 minutes of house. Some others in less populated areas about 20-30 minutes away and 2 Apple stores about an hour away, if all else fails I rock the 5s and keep Savin money then just buy it outright on Black Friday or somethin.

    Hope this helps some.
     

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