In today’s world, we are more connected than ever. No matter where we are, or what we are doing, we make sure that we don’t miss a message from a friend, a breaking news headline, or the perfect photo opportunity. Our drive to be connected to what matters most has elevated the smartphone to more than just a phone, but rather a reflection of who we really are.
With hundreds of options, and styles available your smartphone should support your lifestyle without the worry of over-stressing your bank account. One way to ensure you can get the phone that best fits you is to consider a lease to own payment option. Lease to own is a payment option that can help overcome the high costs of some of the top-rated smartphones by breaking those costs into monthly payments that can fit your lifestyle and budget.
If you are not familiar with leasing, again no worries- the process is straightforward:
- Find out if the retailer offers a lease to own program.
- Complete your application in-store or online.
- You will receive an approval amount based on your application
- Select the phone you want to lease
- Provide your approval ID at checkout and make your first payment
- Take your phone home today or have it delivered
Before you start your application, let’s review a few dos and don’ts to get the most out of your lease to own program.
Do Review Your Lease Agreement
Before you complete your lease, make sure you take the time to read and understand the terms and conditions (or Ts&Cs) of your agreement. Always understand what you are signing and ask questions if you have any doubts. Before hitting the purchase button, you should be fully aware of the amount and date of your monthly lease payments, what is the term (number of months) of your lease, and whether there any fees or early buyout options.
Do Pay Attention to the Buyout Process
You never know when the latest phone will be released. With that in mind, make sure that you pay attention to the buyout options. Some lease to own programs will allow you to buy out of the lease early so that you can upgrade to the latest released smartphone.
Do Take Advantage of Early Purchase Options
Leases sometimes offer early payoff options. If you are able, you may want to consider buying out your lease early to avoid additional payments. Ask a store associate or leasing representative about those options and see if it fits your budget.
Do Set Reminders on Payment Dates
Having the latest phone in your hand can be exciting but stressful. Minimize your anxiety by making sure you feel confident in your lease. Review all of your lease materials, set up your online account to manage your lease, and mark on your calendar your lease payment due dates.
Don’t Assume that all Leases Are Created Equal
Do your homework – check your payment schedule, review your buyout options, or call the lease provider’s customer service team before you sign your lease. Don’t be caught off-guard in the event there are additional buyout fees that will need to be paid before you truly own the item.
Don’t- Let your Lease Go Unmanaged
Make sure the leasing provider offers an online portal where you can self-manage your account, track payments, approval amounts, and buyouts. Once you set up an account, make sure you stay active on it. If you have any changes in your financial situation – like canceling a credit card, starting a new job, or opening a new bank account – make sure you update your lease account as well so you don’t miss a payment.
Lease to own programs can work for you and provide a cost-effective way for you to get the phone you really want with payments that fit your budget. SmartPay offers a no credit required lease to own program with a simple application, instant approvals, low monthly lease payments, and no long term commitment. You can upgrade to the latest smartphone at any time. Don’t settle – discover the SmartPay advantage!