After last month announcing its $70/month iPhone for Life plan that allows users to “rent” an iPhone and upgrade every two years, today Sprint announced that it will be launching a new 12-month lease option starting Nov. 14. That means that iPhone 6 and 6 Plus users signing up for the iPhone for Life Plan will now be able to upgrade every year, and the old 24-month plan will become available for the iPhone 5S.
While Sprint’s iPhone for Life Plan previously cost users $70 month ($50 for an unlimited talk/data and $20/month for the device rental), the new 12-month plan will run $30, $35, or $40 depending on the capacity of the iPhone model you choose, which is on top of the $50 unlimited plan. That puts the cost of the new 12-month rental between $80 and $90 or starting at $960 for out of pocket costs per year:
The iPhone 5S will be available for an additional $18-$24 a month on top of the $50 unlimited plan depending on the capacity of the iPhone model.
Sprint says the new plans “beats Verizon Wireless’ upgrade policy, which was recently changed to make customers pay off 75 percent of the balance which is 18 months of device payments to get a new iPhone.” That comparison is to customers on Verizon’s Edge handset financing program making monthly payments, according to Sprint.
At the end of the lease in an iPhone for Life plan users can upgrade to a new device for $0 down, purchase the leased device, continue monthly payments for the same device, or return it to end the service.
Sprint plans to make the new iPhone for Life plans available starting November. 14.
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@JordanKahn I believe the fourth paragraph should read, “Sprint says the new plans…”
Thanks. Fixed.
The article says, “Verizon says the new plans “beats Verizon Wireless’ upgrade policy, “. Is that correct? Verizon actually stated that Sprint’s new plan is better than their own plan?
So basicly you are renting the device for $30 a month or $360 a year.. hmm not sure if its worth it. I you buy the phone contract free you have to pay up front 650, after 1 year you could sell it for around $400.
How does this even work? Assuming I’d be paying $50 for service anyway, $30 for 12 months, buys me a new phone for $360?
table for superscripts?
I just got an email and text offering me $15 off a month as a loyalty by adding the iphone for life plan. So $65 a month and I can upgrade every year? Works for me.
Also, I currently pay $80 a month and I bought my 5S 64GB for $399. With this plan I pay 0 and have the plan for $65 a month. I don’t see why anyone wouldn’t do this that want unlimited data.