Sprint is set to make its iPhone for Life and Easy Pay options available from Apple's retail stores this holiday season. With this move, the carrier joins the other three wireless major carriers in the United States (AT&T, T-Mobile, Verizon Wireless) in offering phone financing plans directly to customers of Apple.
As reported by 9to5Mac, staff from Apple are now undergoing training in the ins and outs of Sprint's phone financing and leasing plans, which lets subscribers get a new mobile device for $0 down as opposed to making the full retail cost payment.
Even though both Sprint's finance and leasing plans stretch the cost of an iPhone via regular monthly payments made over a specific period of time, there are some notable differences. The iPhone for Life option allows owners of Apple devices to lease a new device for either 12, 24, or 30 months. Payment is made monthly, and when the lease period ends, customers have the option of 1) upgrading to a newer iPhone; 2) purchasing the device they are already leasing; or 3) continuing to lease the device (or terminate the Sprint service entirely).
As for the carrier's Easy Pay program, it is a means in which customers can pay off their iPhones over a period of 1 year (24 months), instead of buying them on a subsidized two-year agreement. Depending on the specific iPhone you choose, you may need to make an initial payment -- the 16 gigabyte edition of the iPhone 6 costs $0 down while the 128 gigabyte edition costs $199.99 upfront -- then pay regularly every month for a period of two years (24 monthly payments in all).
The great thing about it is that after you have made all the monthly payments, you get to keep your iPhone, or sell it, or even upgrade for a new device. With Easy Pay, you get to avail of yearly upgrades of eligible handsets, but you will need to pay a bit more every month.
Sprint is offering its finance plans for the iPhone 5S, the iPhone 6, and the iPhone 6 Plus. These finance plans are already available in Apple retail stores from today onwards. However, they are not offered at the online Apple Store as of yet.
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