Hey Sprint CEO Marcelo Claure - I don't lease my car and I sure as hell don't want to 'lease' an overpriced phone from you.
You want me to pay YOU a monthly fee to lease a phone from YOU that I don't own.
AND a monthly service fee for a plan.
AND a monthly protection fee because if anything happens to that phone I don't own in the next 2 years, I would have to also pay you; A damage fee.
I have to pay you every friggin month for a phone, I want to own that phone.
I don't want to have the option to pay you ANOTHER $200 at the end of that 'lease' to buy the phone.
Some of us don't give a rat's ass about 'upgrading to the newest model phone" the nano-second it becomes available.
Some of us don't mind the option of a 2 year contract if we planned on staying with Sprint anyway and we are fine with accepting a not-newest-on-the-market low cost or free phone to use during that time.
AND WE ARE A FAMILY OF FIVE!
So now, let's just multiply the whole 'lease' thing by 5 shall we?
We've been Sprint customers for like, 13 years.
Sprint is NOT 'doing away with 2 year contracts" they are just calling them "24 month lease contracts" now.
So - still a 2 year contract - but you don't own your phone anymore.
YES I know T-mobile and ATT have been doing it this way for awhile.
Guess what? WE HAVE STAYED WITH SPRINT FOR YEARS BECAUSE THEY DIDN'T!!!!!!
Right now we pay a monthly plan fee. Period. That's it. And we get a new phone for free every 2 years with a renewed contract. It works for us. We like it.
We get to go from paying for our plan ONLY - (we don't have to pay for the phone and we own our own phones as we got them with our 2 yr contract and since it's our phone and we don't have to give it back to them and we don't have to a damage fee to them if it gets cracked, we don't have to pay a protection plan either). JUST the plan. That's it. It's awesome and simple.
But now I get to sign a new 2 year contract (uh, 24 month lease) and not only pay for a plan, but 5 phones & protection plans because it's THEIR phone even after we pay for it for 2 years... and if it's damaged we have to pay them more. And if we want to buy the phone after 2 years that we've been paying for, it will be another $150-200.
OMG WHO THOUGHT THIS WAS A GOOD IDEA FOR THE CUSTOMER?
How does Sprint Lease work?
You’ll make a set monthly payment for 24 months, but you’re not paying off your phone to own it. Nope, you are merely leasing or 'renting' the device from Sprint, and they still ‘own’ your phone. After you pay every single month not only for the plan and the phone - Sprint will still own your phone.
If you want to keep your phone - after paying for it for 2 years already - you can pay an additional amount in order to purchase it. Right now they say it will be around $150-200. (ON TOP OF THE $1000 or whatever you've already paid for the right to simply use it for 2 years).
If you don't want to pay them a couple hundred dollars at the end of your lease, you can turn it back into them but guess what? It has to be what they consider to be in perfect condition (and then start yet ANOTHER 2 year lease) or they (on a whim) can say; Eh, it's not good enough. NOW we want you to pay a 'damage' fee too!
And they are really pushing their "Sprint’s iPhone for Life agreement"because they stupidly think EVERYONE WANTS THE LATEST AND GREATEST IPHONE FOR THEIR WHOLE LIVES.
They are going to look at your credit history and either make you pay a big fee of about $150-200 up front and then lease their stupid phone from them per month or if your credit is ok, you don't have to put money down up front but you're goinhg to pay about $20-30 a month (PER PHONE - remember we are a family of 5) per month for the next 2 years.
WHY DO THEY THINK A 24 MONTH LEASE IS OK WHEN A 24 MONTH CONTRACT WAS NOT?
THEY ARE BOTH 24 MONTH CONTRACTS!
THE DIFFERENCE IS I COULD GET A FREE PHONE BY AGREEING TO A 24 MONTH CONTRACT WITH THEM PREVIOUSLY AND NOW I GET THE PRIVILEGE OF PAYING THEM FOR THE SAME 24 MONTHS AND PAYING THEM FOR THE PHONE TOO!
WIN/WIN situation for SPRINT but complete crap for me, the customer - the family who have been customers of Sprint for like 13 years.
They want to convince you it's actually saving you money.
For some, sure. But no. It's not.
If you normally pay big bucks for the latest phone every year or two when it hits the market and you don't care if you own the phone, are ok paying someone else to RENT their phone and having to pay more for a protection plan or pay a damage fee at the end... ok.
But for the rest of us? Not ok.
If you decide to cancel your lease before the 24-month lease term is up, Sprint will require you to pay the remaining lease payments - as well as the Purchase Option Price.
If you decide to return your phone to Sprint, you'll receive an account credit to the value of the Purchase Option Price, provided the device is in good working condition. But you won't be refunded the extra monthly lease payments you made in order to cancel your contract.
If you decide to keep leasing the phone month-by-month after your agreement ends, you can keep paying the same monthly amount for as long as you wish to lease your device. However, if instead of paying $0 down, you were required to make a down payment when you signed your lease, be careful. Although you’ve been paying a reduced monthly payment so far, if you continue to lease after two years, your payment will go up to the original monthly amount quoted for $0 upfront customers .