So two (almost) confirmed painless cancellations of existing leasing plans - has the $2100 actually gone from your account yet?
Its definitely very generous of Optus but makes me suspect something else is going on behind the scenes. The whole cancellation process has a very rushed air to it especially as its obviously very lucrative for Optus to have some customers paying so much more for their leasing products and services than others. I'm thinking that a regulator might have got involved and told Optus that too many people have been potentially mislead by the (poor value) of leasing plans. That's just a guess though.
In response Optus are now moving everyone off them as fast as they can. For those that complain, Optus may not actually have the ability/desire to strictly enforce the lease contracts but its a bit of a bluff situation where as long as you keep requesting a total clean exit it will eventually be offered. So far the best option seems to be a TIO complaint, followed by a clued up Optus Rep contacting you and then agreeing to go your separate ways.
Agree completely with this statement - that lease plan customers believed they would be on an endless lease plan that wouldn't change - because honestly that's how the plan was sold to me and my partner anyway. We saved significantly by going on a lease plan on a joint contract - signed up in July 2018 with 2 iphone 8 64gb phones, 30gb of shared data, he opted for insurance, I didn't, and we pay $152 a month total. To sign up to new plans on equivelant 12 month old iphone models (say an iPhone X), difficult to find exact comparison of plan, but even the cheapest option with less data will cost us $106 per month each, meaning we're paying an additional $1,440 at the end of 24 month contracts than we are currently.
At this point, I'm just not sure what the smartest move is for us. Stay on existing plan to keep the costs low for now, and shop around in July 2020 when contracts are up, or...? I can see your logic now, but for us at the time, this seemed like a smart deal to keep monthly phone bill costs at a minimum, and we were under the impression we could stay on this current deal, re-sign every 24 months to ensure we could keep upgrading at $99 per year. Given the phones supercede eachother so quickly with iOS upgrades, I've found keeping a phone for more than 2 years completely frustrating as they become slow and cumbersome after 2 years.
Any advice appreciated...
Hi @Lucy111 ,
You're correct that your current plan is substantially lower priced than moving onto Optus new plans (you lose the $10 discount and the price hike is a double whammy).
The main question I see is at what stage you decide to give the phone back to Optus. If you're happy with the current pricing and have 14 months left then why wouldn't you just stick with the status quo? The alternative is (assuming like the other two reports here) you can get Optus to agree to hand it back now and cancel all fees etc. then all you've done is put yourself back in the market to by another phone and another plan. If you can find a better deal (with Optus or other provider) that is worth that hassle then perhaps pull the pin?
In a nutshell, you're no worse off just staying put than you are leaving at the moment. In 14 months Optus may have dropped the non lease plan prices and be back to periodic special deals like we saw through most of this and last year. If not you can weigh up the same three options that are on the table now.
PS The $1400 extra you mention on new non-leasing plans over 24 months is an extra cost. However at the end of the 24 months you would own two flagship iPhones. Depending on the model these would easily sell for over $700 each on eBay. You can then sign up for a new Optus 24 month non-leasing plan that doesn't have the $149 upgrade fee (as its a new plan). It may not beworth the hassle selling on eBay but I mention it because taking that option still sees you financialy ahead after two years.
It also seems Optus are very willing to drop the $99 upgrade fee right now (if you opted to move to a non-leasing plan) so you could upgrade your current phones if you wanted to at no cost (other than the plan price rise). Just another option.
The number of people in this thread who clearly don't understand the terms of the contract they have signed is scary.
The number of people who seem willing to throw money out the window by getting the latest phone every 12 months is scarier still. A factory reset once a year will take 20 minutes and keep your phone running fast for years.
Read your contracts people, and if you don't understand anything ask the reps before you sign it. It seems like people tought they were entering into some sort of perpetual yearly update contract when in reality they were entering a 24 month contract with an early exit clause that allows you to enter into another 24 month contract. Your current contract isn't effected by these changes. The only difference to anyone on one of these contracts is that when its time to enter a new contract, either 12 months in with a fee or 24 months in without a fee, then these horrible value lease plans will no longer be available.
Expecting to carry on the same plan and getting the latest phone every 12 months for an indefinite amount of time is naive at best. A thorough read of the contract would clear this up.
Optus. There is no negotiation. One of the pitfalls of a leasing plan. But FWIW the few prices I've seen seem ballpark fair. Just Google eBay refurbished and the model you have. If it's significantly cheaper than Optus offer hand the phone back and by the eBay one
There are people who want a new phone with the latest technology and camera as soon as they can. And of those, there are some who do not want the hassle of selling their used phones through various means. E.g. gumtreee. One reason is for them it can be a big waste of time! Responding to enquiries, meeting for inspections and then not buying. Haggling... And so for me, I have a draw full of old phones... can't throw it away due to many reasons including data privacy issues. ( although there are other ways of using the old phone . E.g. wifi extender, wifi dongle, dash cam... but this is another matter better written elsewhere)
I for one knew the leasing plan was not the best of the plans financially but it was worth it for the reasons mentioned above.
The contract condition has been breached by Optus! There is a condition in the contract that says one can renew with another lease phone!
Perhaps we would be naive to believe we can keep this lease plan forever but would we be naive to think we could benefit from this deal at least once? Some people here signed the contract only to find out these plans have been scrapped after a few weeks!
Another thing that irks me is that optus would be penalizing us for trying to keep the current phone and move to an own phone plan. If we are denied of a new lease phone plan, optus should at least offer us to own the phone under similar plan conditions.
Financial loss is not that great. I can move to an own phone after 12 months for $99 and lose the value of the used phone that I could've had. Or for $0 I can walk away after handing the phone in after 24 months. It's how Optus is treating their loyal customers. It's the principle of the matter. It's the bitter feeling we've been swindled.
It's just a ball park figure / gross check. I don't know what factors drive the Optus price. General principal is if you find a better deal anywhere then you can take that instead of the Optus offer