I'm looking at the Optus 24 month contract at $65 for 20GB on the Lease a phone option.
not sure about this, as they have extra conditions you must return the phone after this term.
Or is it better to own it outright?
what have others on here done?
iPhone 8 - Buy Outright or Lease?
leeanne75 on 26/11/2018 - 13:15
Last edited 29/11/2018 - 21:54 by 1 other user
Last edited 29/11/2018 - 21:54 by 1 other user
Comments
Easy to work out yourself..
Find your best price for an I Phone 8 and look for a good plan. If you like optus then go with a reseller for the best deal… usually Catch Connect is good.
Buy iP8 8/128 at Geekbuying.. $680au delivered. Catch connect 2 X 1 yr 25G mth @ $410 yr = $820.
Cost over 2 yrs $1500 PLUS you own the phone.
Your quoted plan cost over 2 yrs $1560 and you hand the phone back..
Lease on iPhones is never a good deal as they hold their value very well, even after 2 years. So after 2 years you sell the phone and put it towards a new phone, or keep it and switch to a cheap BYO plan with one of the resellers.
Put another way, leasing typically saves you $10 per month on the equivalent plan, so after 24 months it will save you $240. The phone will be worth way more than $240 bucks at the end of 2 years.
Edit: The only enticing thing about the lease is that you can get a new phone after 12 months, BUT you have to pay a fee ($99 I think) and you have to enter into another 24 month contract, and at the end you still don't have a phone to show for it. They also have other caveats, i.e. phone must be in undamaged condition etc. I see it very similar to leasing a car - it's for those people who want to drive brand new cars all the time but you pay a huge premium for it.
Edit: The only enticing thing about the lease is that you can get a new phone after 12 months, BUT you have to pay a fee ($99 I think) and you have to enter into another 24 month contract, and at the end you still don't have a phone to show for it. They also have other caveats, i.e. phone must be in undamaged condition etc. I see it very similar to leasing a car - it's for those people who want to drive brand new cars all the time but you pay a huge premium for it.
You can do this for "bought" phones too…
True true…
Outright.
thanks I'll buy outright then, too many traps with the plans
$65 per month for an iPhone 8 on lease is very expensive, they were $59 p/m to own last year.
If you really want it, much better buying outright and getting a good BYO plan, such as the ones from Kogan.