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Old 07-20-2015, 10:28 AM   #1
sard
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Everything plan vs Lease plan - whats better?

I currently have the 450 everything plan (450 minutes anytime minutes, unlimited data, text, unlimited calls to cell phones)
I am currently eligible for a new phone.

I notice they don't offer the everything plan anymore, only the lease plan.
Knowing Sprint, since they do not offer the everything plan anymore, that must mean its a better plan

Can you all give your opinions on:
1. leasing phone vs buying it under contract ($199 for 2 year, etc)
2. the leasing phone plan ($60 a month) vs the everything plan

Am I missing something? On paper, the leasing plan is a better deal.
And I hear some lease offers basically give you a phone for free (S6 for $5 a month for example)

Doing some quick math calculations (assuming they are offering the phone for $5 a month), after 2 years the leasing plan will be over $300 cheaper than the $199 2 year contract. (although I don't get to keep the phone)

If I do want to keep my everything plan.
Will I be able to keep it if I buy the $199 phone online? (since the stores do not do that anymore)
Will I be able to keep it if I buy the phone at Best Buy or Target?

Thanks
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Old 07-20-2015, 04:20 PM   #2
PokerFace23
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$5 a month for 24 months so $120 but you won't know what'll be in store 24 months from then. It'll probably be normal leasing without the offsetting credit.

My advice is if you're in an everything plan, stick to them for as long as possible. And you should be able to upgrade without changing your plans still
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Old 07-20-2015, 09:19 PM   #3
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Quote:
Originally Posted by sard View Post
Can you all give your opinions on:
1. leasing phone vs buying it under contract ($199 for 2 year, etc)
2. the leasing phone plan ($60 a month) vs the everything plan


Doing some quick math calculations (assuming they are offering the phone for $5 a month), after 2 years the leasing plan will be over $300 cheaper than the $199 2 year contract. (although I don't get to keep the phone)
The leasing plan is not the best deal for this reason:

Buy iphone 6s 16gb for $650
Sprint subsidy $450
You pay $200

Lease iphone 6s for $5/m0
Total cost $120
Monthly cost= identical
Difference = $80

If you think your iphone 6s will be worth more than $80 after 2 years - remember that Sprint will unlock it now - you should do the subsidy purchase. If you think it is going to be worth less, then lease.

Same math with iphone 6s 64gb:
Buy iphone 6s 64gb for $750
Sprint subsidy $450
You pay $300

Lease iphone 6s for $10/mo
Total cost $240
Monthly cost= identical
Difference = $60

It depends what you are trading in. An iphone 5s 32gb currently goes from about $225 (it originally cost $750).

This is why Sprint is pushing leases so hard. Under the example above, Sprint makes an additional $160.

Last edited by k24; 07-20-2015 at 09:21 PM.
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Old 07-21-2015, 09:37 AM   #4
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Quote:
Originally Posted by k24 View Post
The leasing plan is not the best deal for this reason:

Buy iphone 6s 16gb for $650
Sprint subsidy $450
You pay $200

Lease iphone 6s for $5/m0
Total cost $120
Monthly cost= identical
Difference = $80

If you think your iphone 6s will be worth more than $80 after 2 years - remember that Sprint will unlock it now - you should do the subsidy purchase. If you think it is going to be worth less, then lease.

Same math with iphone 6s 64gb:
Buy iphone 6s 64gb for $750
Sprint subsidy $450
You pay $300

Lease iphone 6s for $10/mo
Total cost $240
Monthly cost= identical
Difference = $60

It depends what you are trading in. An iphone 5s 32gb currently goes from about $225 (it originally cost $750).

This is why Sprint is pushing leases so hard. Under the example above, Sprint makes an additional $160.
Aren't you leaving out the additional $15/$25 per line you have to pay on the Family Share plan if you opt for the subsidized route?
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Old 07-21-2015, 04:15 PM   #5
sard
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Thank you all for the replies.

PokerFace23
>>$5 a month for 24 months so $120 but you won't know what'll be in store 24 months from then. It'll probably be normal leasing without the offsetting credit.

True.
But at the end of 24 months of lease, if at that time they don't do the off set credit, couldn't I do a $199 2 year contract phone?


>>My advice is if you're in an everything plan, stick to them for as long as possible

Why is that? My gut tells me that the everything plan is better, but nothing I read says thats the case.


>>And you should be able to upgrade without changing your plans still

I hope so. When I last upgraded (2 years ago) - Target told me that they weren't sure if I could keep my plan, etc...had me worried for a bit.



k24
>>Monthly cost= identical

Thats not correct for me.
My understanding is that the lease plan is $60 a month. (just the plan)
My 450 everything plan costs:
Monthly charge - $69.99 + $10 (premium data charge)
That makes it $79.99 a month (before taxes)
So I am playing $20 extra a month compared to the lease plan.
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Old 07-21-2015, 10:56 PM   #6
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With the difference in the monthly price the lease plan makes more sense. We have an ED1600 plan, and the monthly price remains the same whether we lease or buy. If you have a single line your should look at other carriers and prepaid which are much cheaper too.
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