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2017-10-27 06:24 PM
I have never leased a phone believe it or not as I usually buy my phone outright. I just wanted to know if after 24 months contract of leasing the phone (iphone 8 plus) do I have to pay extra to keep the phone if it is not damaged? I'm confused as somewhere I read that 6 months before your 24 month contract you can buy for the phone at the market value. What does this mean exactly?
2017-10-27 08:03 PM
You've touched a subject dear to my heart. Optus leasing is possibly the most lopsided deal in recent history. All lease deals have a corresponding 'standard' deal. The lease deal will save you $3-$8 per month over the standard deal (so you save around $150). That's the lease plus. The flip side is
1) If you lease you don't own the phone. So at the end of the lease you have to give it back. Standard deal is you now own your $1000 phone.
2) If the lease phone is scratched or damaged you must send it to the manufacturer for repair. (so no cheaper repair options only top $)
$) If you lose the lease phone then not only do you have to keep have to paying the the monthly plan fee but you will have to buy another new phone and then give it to Optus once the plan is up.
In a nut shell, if you lease you will save $150 but you will never own the phone (unless you decide to buy it all over again after 18 months).