In a huge development in the carrier world, T-Mobile has dropped down payments on all device, instead allowing customers to pay for their devices in monthly installments over a 2 year period, with 0% finance.
This repercussions of this move are absolutely massive. Prospective smartphone customers can now get any of the current top mobile devices, including the iPhone 5, the Samsung Galaxy S4 and the Note II, without paying a dime upfront. With a down payment of 0$, customers would be required to pay $27 a month for an iPhone 5, the most expensive monthly option alongside the Galaxy Note II, which will also cost $27 a month. the cheapest device, the Lumia 521, can be acquired for just 5$ a month!
This means that the total ownership cost of an iPhone 5 will be $648, plus your monthly tariff. Previously, the iPhone 5 required a down payment of $150, followed by installments of $21. Note that only the 16GB version of the iPhone 5 does not require a down payment, and credit checks will be run on existing customers.
Following up the move, T-Mobile’s maverick CEO John Legere stated, “the number of reasons not to switch to T-Mobile this summer is zero”, and frankly, I’d be inclined to agree.
Following its announcement of T-Mobile Jump, Tmo is continuing to set itself apart from AT&T and Verizon, which have long held majority sway of the American mobile market, which, until very recently was very much as two-carrier system.
Via: iDownload Blog