Quick Answer: What Happens After Sprint Lease Is Up?

What happens if I don’t return my leased phone?

you’ll either give the phone back.

If there are no cracks scratches or damages it will most likely settle the lease payments.

If you don’t turn it in or pay the lease and you switch carries your credit receives a negative inquiry for negligence..

Do I own my phone after 24 months?

Typically the cost of your phone is divided over 24 months. As long as you still owe money on your phone, you can’t leave your carrier. When you’ve paid the phone off, you own it. Unlike the subsidy model, this usually also means your monthly bill is cheaper once your phone is paid off.

Can I return a sprint leased phone?

Sprint owns the phone you’re leasing That means you are responsible for paying the remaining lease payments in addition to the Purchase Option price that’s listed on your lease. If you return your device in good, working condition, the device Purchase Option price will be credited to your account.

How much does it cost to cancel a Sprint lease?

The early termination fee is prorated, which means that as more time passes, you will pay less to terminate the fee. The way Sprint figures out the fee is that it charges $20 per month for each month that’s left on your contract with a maximum fee of $350 and a minimum of $100 per device.

What happens after 18 month lease with Sprint?

After 18 months, you can choose to swap your phone and keep leasing something newer, or buy the device either outright or with six more monthly installments. You can also just keep on paying the lease fee every month or return the phone to Sprint after 18 months and be done with it.

Can I turn in my Sprint lease early?

Lease (Sprint Flex): Monthly amount excludes tax. Early termination of lease/service: Remaining lease payments will be due immediately, and requires device return or payment of purchase option device price in lease. 24-Mo.

How long does it take for Sprint to refund money?

3-4 weeksSupport your local Sprint Retail Store! It should take no longer than 12 or so days. Thats from the date the approve the refund check to be sent though, so it could take closer to 3-4 weeks in total.

Can you switch carriers with a leased phone?

If you want to switch to another cell phone carrier but still owe a balance on your device, your carrier will usually bill you for the remaining amount, which can get expensive if you still have a lot of payments to make. You’ll also need to pay any early termination fees that your carrier charges.

Can I get out of my Sprint contract for poor service?

The bottom line You can cancel your Sprint service at any time, but if you cancel it before your contract is done, you may have to pay early termination fees on top of the balance remaining on your cell phone bill.

How can I get out of my Sprint lease without paying?

If you decide to cancel your lease before the 18 month lease term is up, Sprint will require you to pay the remaining lease payments—as well as the Purchase Option Price. After this, you are free to leave and take your device with you.

Is it better to buy or lease?

“Buying a car is almost always better than leasing a car,” Baumeister stresses. There are some exceptions for business owners or others who can deduct certain vehicle costs. … Lease a car if you simply love driving a new car every three years and the cost is worth it to you.

Is leasing an iPhone worth it?

Leasing a cell phone can be a good idea if you like to upgrade to a new phone every year (or thereabouts) and don’t necessarily need to own your phone. Leasing a phone can be cheaper than paying off a phone in full (whether outright or via monthly installments) and you’ll be able to get a new phone every 12-18 months.

What happens if you sell a leased phone?

Selling a Leased Phone You may be wondering if you can sell a leased phone the same way that you can sell a phone on an equipment installment plan. Unfortunately, the answer is no. A leased phone must be paid off and bought out before you can sell it. Otherwise, you must return it to your carrier.

Can you pay off a phone contract early?

Unfortunately, if you decide to cancel your contract, you’ll probably end up having to pay an early termination fee. Typically, this early exit fee will mean having to pay off the remainder of your contract in one lump sum, which is a lot to find in one go, particularly if you then want to splurge on a newer handset.