You get the choice to pay the remaining value of the phone and keep it, or enter a new "lease" agreement for a brand new phone at the end of the term. The formula is simple:
purchase fee = device list price – lease payments made – remaining discounts or trade-in credits.
If you're paying $1368 over 24 months, you could pay the remaining $632 after those 24 months and keep it with 0% interest.
So let's say you go to Hertz or Avis at the airport, you get a car for a month at $1700. The car has an MSRP of $40,000 and Hertz/Avis gives you the option to buy the car for $38,300 after you return it.
English is not my first language, sorry. If you have a device that you pay a monthly fee for, but you can't keep it at the end of the contract, where I am from we call that renting.
Leasing is a financial construction where you actually own the product / property, with the bank having the option to claim it if you fail to pay.
Renting. It's $57 per month for 24 months and then you have to hand it in.
So you pay $1368 for the privilege of using the Duo for 2 years.
You get the choice to pay the remaining value of the phone and keep it, or enter a new "lease" agreement for a brand new phone at the end of the term. The formula is simple:
purchase fee = device list price – lease payments made – remaining discounts or trade-in credits.
If you're paying $1368 over 24 months, you could pay the remaining $632 after those 24 months and keep it with 0% interest.
So let's say you go to Hertz or Avis at the airport, you get a car for a month at $1700. The car has an MSRP of $40,000 and Hertz/Avis gives you the option to buy the car for $38,300 after you return it.
Is that leasing or renting in your country?
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Lease. You can buy it out at the predefined price at the end.
English is not my first language, sorry. If you have a device that you pay a monthly fee for, but you can't keep it at the end of the contract, where I am from we call that renting.
Leasing is a financial construction where you actually own the product / property, with the bank having the option to claim it if you fail to pay.
7 replies →
That's almost three of the phone I use daily per year.