ZTE joins growing list of phone makers with lease program
One of the more popular trends to emerge in the US smartphone market lately has concerned how we pay for our phones. As carriers drop long-term contracts and subsidized pricing, it sure looked like customers might be in for a bit of sticker shock, forking out full price for their new hardware. But as it happened, both carriers and manufacturers were quick to step up with alternatives, namely in the form of device financing and leasing plans. Now yet another manufacturer is ready to introduce its own leasing arrangement, as ZTE announces its lease-to-own program.
Here’s how it works: when you buy a new, unlocked ZTE device, the company will offer (through its partner SmartPay) approved shoppers the opportunity to lease the hardware – on a term of six to twenty-four months, depending on just what device we’re talking about (presumably, more affordable models will pair with those shorter lease terms). If at any point you decide you want to upgrade to some newer hardware, or just go with a different handset, you can hand in your existing model and start a new lease on another – or go with a different company’s phone entirely, if that’s where your desires lie.
Once paid off, the hardware is yours to keep, and you’re free to buy out of the least at any point you’d like, paying off the balance ahead of schedule.
Compared to the rest of the playing field, ZTE already has some relatively affordable phones – like the new Axon Pro, priced at just $450 – but if this new effort makes it even easier for ZTE to pick up some more on-the-fence customers, more power to it.