Published on May 13th, 2016 | by Millennium Magazine Staff0
Five Things To Know When Leasing Wireless Devices
Whether you lease your device or buy it, wireless companies are competing for your business.
(NAPSI)—America’s wireless industry is constantly evolving but one thing doesn’t change: fierce competition for every single mobile customer means you have new options.
Thanks to this competition, you can choose among a variety of innovative offers for wireless service and devices. Some providers and handset manufacturers offer an option to lease, rather than buy your devices, an increasingly popular way to access the latest mobile devices. There remain many choices for consumers to acquire a phone at full retail price, as well as through installment plans and two-year contract options.
Leasing is just another way for you to individualize your mobile experience. CTIA wants to ensure that all consumers understand the new, innovative offering. If you’re thinking of taking advantage of new leased options, remember to follow these five tips:
1. Remember, Your Device Is Leased. Just like leasing a car, you don’t own a leased phone and will generally need to return it at the end of your agreement. The economics may make sense for your household, especially if you always want the newest device.
2. Consider Insuring Your Device. And just like with a car, you need to return the phone in good condition. You should consider whether you need to protect yourself in case of damage or loss by insuring your phone with your operator or a third-party insurance company.
3. Be Careful Trading in Your Device. Leasing is popular, in part, because you can trade in your old phone with your carrier for a new device. Just be careful and don’t accidentally trade in your leased phone to another carrier. A leased phone improperly traded in could get you in trouble under your leased terms with fees and penalties.
4. Know Your Options. The good thing is that at the end of your contract, you can typically elect to buy your leased devices or trade in your phone for the newest model. Once you decide to buy your phone, it’s yours to sell or trade!
5. Know Your Agreement if Switching Providers. Wireless companies offer financial incentives and promotions to switch providers—a great consumer benefit—but some deals require you to trade in your phone to qualify. Remember, if you lease your phone, you are likely not eligible. You can take advantage of great new offers from other operators at the end of your lease or if you satisfy the terms of your leasing agreement. Check with your provider to learn more about your specific leasing terms.
Enjoy the benefits of a pro-consumer, competitive wireless landscape with a variety of choices; it’s up to you to pick an option that makes sense for your family and budget. For more information on choosing wireless plans and devices, visit http://ctia.it/23e6JUJ. Happy shopping.
For more facts and tips on wireless devices and plans, visit www.ctia.org.