Sprint Aims to Woo Cost-Conscious Customers with Expanded Lease Options

Kagan Sprint Flex is the next step in Forever program 0

Kagan Sprint Flex is the next step in Forever program 0

Benefit from annual upgrades with iPhone Forever and Galaxy Forever at no additional monthly charge; or, for $5 per month, choose an annual upgrade option for any other new device. The two new plans - Sprint Flex and Sprint Deal, are focused on providing more options to smartphone buyers.

Sprint has been offering leases on its smartphones for awhile now, and so Sprint Flex is the next step in its evolution of offerings.

Claure at an investors conference back in May pointed out Sprint's use of lease programs not only pulls customers in, but also helps drive the carrier's upgrade rates thanks to the annual upgrade option.

Like getting a new phone every year? However, Roger Entner of Recon Analytics pointed out the lease idea comes with one big risk, namely that customers won't give their devices back. With either of the Sprint Deals options, you can upgrade to a new device after making 12 consecutive, on-time monthly payments.

For entry-level devices, customers pay $5 per month with $25 down. All the previous lease payments count towards the purchase price.

Sprint Flex lets you lease a phone for 18 months, and at the end of those 18 months, you can choose to either upgrade to a new phone, pay off your phone in a lump sum, or pay off your phone with another six months of installment payments.

That's still a tad complicated for what Sprint is billing as the "industry's simplest and most flexible device financing program", but thankfully, the new Sprint Deals providing savings on a "value menu" of smartphones are straightforward and wickedly advantageous. Meanwhile, customers who skip a credit check can get half off the price of an entry-level phone or 25 percent off a higher-end device on a prepaid plan.

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