Sprint builds out hardware leasing with 'iPad for Life' plans, iPad Air 2 starts at $20 per month
Sprint on Thursday expanded its hardware leasing options beyond Apple's iPhone to include the new iPad Air 2 and iPad mini 3, with pricing for 16GB models pegged at a respective $20 and $17 per month for 24 months.
With Sprint's iPad for Life, customers effectively lease a new iPad Air 2 or iPad mini 3, paying set monthly installments for a period of two years. Once the 24-month term is up, they can either swap the device out for a next-generation model, purchase the leased tablet or continue to use it on a month-to-month basis. Alternatively, customers can simply return the iPad if it is in good condition.
Pricing for a 16GB iPad Air 2 starts at $20 per month for 24 months, while a similarly equipped iPad mini 3 goes for $17 per month. Monthly dues step up in $4 increments for 64GB and 128GB variants.
Sprint launched its first lease plan with iPhone for Life on the day Apple unveiled the iPhone 6 and iPhone 6 Plus in September. That plan also starts at $20 per month for base model iPhones.
Finally, to promote the deal, Sprint is waiving the usual $10 monthly access fee charged when adding an iPad to an existing plan as a new line of service. The promo applies to Family Share Pack plans 20GB or higher and runs through December 2015.
Those interested in iPad for Life can take advantage of the lease program starting Nov. 14.
With Sprint's iPad for Life, customers effectively lease a new iPad Air 2 or iPad mini 3, paying set monthly installments for a period of two years. Once the 24-month term is up, they can either swap the device out for a next-generation model, purchase the leased tablet or continue to use it on a month-to-month basis. Alternatively, customers can simply return the iPad if it is in good condition.
Pricing for a 16GB iPad Air 2 starts at $20 per month for 24 months, while a similarly equipped iPad mini 3 goes for $17 per month. Monthly dues step up in $4 increments for 64GB and 128GB variants.
Sprint launched its first lease plan with iPhone for Life on the day Apple unveiled the iPhone 6 and iPhone 6 Plus in September. That plan also starts at $20 per month for base model iPhones.
Finally, to promote the deal, Sprint is waiving the usual $10 monthly access fee charged when adding an iPad to an existing plan as a new line of service. The promo applies to Family Share Pack plans 20GB or higher and runs through December 2015.
Those interested in iPad for Life can take advantage of the lease program starting Nov. 14.
Comments
In other words, you'd have to be an idiot to take up this offer.
“Pay for the rest of your life and never really own anything.”
How are there human beings who think this is a good idea? I thought we were supposed to be sapient. This is why Zune failed.
“Pay for the rest of your life and never really own anything.”
How are there human beings who think this is a good idea? I thought we were supposed to be sapient. This is why Zune failed.
There are advantage to renting if you can't spare the rest of the cash right away. Need it for your car, or whatever. You can also change easily for one tablet to another tablet, another tech random device to suit your needs, etc. Its only bad if you can't rent month to month and have to sign for say 2 years. Then, you might as well buy or finance it yourself.
There is a reason renting and buying exist. They both have their use.
“Pay for the rest of your life and never really own anything.”
How are there human beings who think this is a good idea? I thought we were supposed to be sapient. This is why Zune failed.
Ever hear of car leases and Rent-To-Own? They're very successful business schemes. So are check cashing centers and credit cards with 30% interest. They all typically pray on the destitute and impoverished, who are usually not too good with financial decisions, which is why they are in their situations in the first place. *cough* Android users *cough*
‘Course I have; it should be evident I think you’d have to be crazy to participate. Car leases (not sales) are how GM was able to “recall” all instances of its EV-1 and destroy them, despite owners’ wishes.
Ah, I remember reading somewhere that in the fine print of one of those the interest rate was 980% or something similar...
The only thing in this regard that I sort of understand is the idea of the apartment. I don’t accept it–I don’t like the idea of renting that space–but I understand the idea behind it. What I don’t get is why they’re not just treated as regular housing. Eventually you should be able to own that apartment, etc.
Yea but the thing is leases usually have lower monthly payment than the monthly payment of a purchase so you end up only paying 50% of the car value in that 3 years. 20bucks a month is the same monthly payment I pay to PURCHASE an ipad through T-mobile. Why pay the same price to end up not owning the device. I can also upgrade every 2 years but I have the additional luxury of selling my old ipad to have extra money for the new one.
The only thing in this regard that I sort of understand is the idea of the apartment. I don’t accept it–I don’t like the idea of renting that space–but I understand the idea behind it. What I don’t get is why they’re not just treated as regular housing. Eventually you should be able to own that apartment, etc.
It's called a mortgage
I'd rather just do the DIP. That's what I'm doing with my iPhone 6 through Sprint, but I'm on the Framily Plan. Since I have unlimited data, I can either upgrade (trade-in) every 12 months, or just pay it off over 24 months, then it's mine to do with as I wish. The "iPhone for Life" deal isn't that much of a deal, and neither is this iPad plan. If I do get an iPad through Sprint, it'll be on the DIP (device installment plan) if I don't have the extra cash to just buy it outright.
is this a mistake? how could it be that a company would offer such absurd pricing? going directly to apple would be significantly cheaper than $20/month ($500 up front; sell for $200 in 2 yrs; divide $300/24 months).
A lot of people don't care. Spendthrifts. They only want to know what kind of payments they have to make. Greater than 60% of the US population is not good with money.
It's like going to a car dealer to buy a car. All you hear is from the salesman, "What payments are you looking at?" The focus is on payments and not the real cost. They are targeting the person who only thinks of their immediate concern and can't think past the next month. Forget long-term.
A budget conscious person will say, "What will that cost me total?"
The posters on Appleinsider seem to skew toward having more money than the average person and seem to be very budget conscious. They know the value of a dollar.
Wait. What does this have to do with Zune?
Ever hear of car leases and Rent-To-Own? They're very successful business schemes. So are check cashing centers and credit cards with 30% interest. They all typically pray on the destitute and impoverished, who are usually not too good with financial decisions, which is why they are in their situations in the first place. *cough* Android users *cough*
I'd lease a Chrysler product (or most Volkswagon Auto Group products, especially Audi). That way I turn them back in before the warranty expires.
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“Pay for the rest of your life and never really own anything.”
How are there human beings who think this is a good idea? I thought we were supposed to be sapient. This is why Zune failed.
Wow! Good word, "sapient." And, you used correctly in a sentence.
I'm impressed.
Best
I'd lease a Chrysler product (or most Volkswagon Auto Group products, especially Audi). That way I turn them back in before the warranty expires.
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Agreed! And you are, in a sense, "always driving a new car!" Essentially, trouble-free driving.
Best
It's called a mortgage
That’s not in any way the same.
I don’t get your point.
Many of the complaints seem to compare the cost of a 16GB WiFi iPad Air 3 ($499) vs. the 16GB WiFi + Cellular iPad Air 3 ($629) and conclude that iPad For Life makes no sense.
Using a 16GB WiFi + Cellular iPad Air 3 in this example, there are four ways to pay for its use on Sprint - purchase at full price and activate month-to-month, purchase from Sprint with a $100 discount if you sign a two-year agreement, finance the retail cost for two years or lease for two years.
Using device cost information provided from Apple and Sprint, plus the monthly device payment and a data service cost of $10/month through Sprint, creating a quick Numbers spreadsheet produced these two-year results, excluding any taxes and fees which vary:
iPad For Life lease
$30/month, $720 after two years ($480 device cost + $240 for two years of data)
This plan makes sense if you want to pay $0 down for the device, pay the sales tax for 24 months and plan to upgrade through Sprint for whatever iPad is around 24 months later.
EasyPay finance
$36.25/month, $870 after two years ($630 device cost + $240 for two years of data)
This plan makes sense if you want to own an iPad by paying the sales tax upfront and finance the rest, with the option of paying the balance at any time during the 24 month finance period.
Two-Year Contract purchase
$769.99 ($529.99 one-time device cost + $240 for two years of data)
This plan makes sense if you want to save $100 off the purchase price. However, you have to contend with an Early Termination Fee of $350 for the first six months, which incrementally decreases to $100 until the contract ends 24 months later.
Retail purchase
$869 ($629 one-time device cost + $240 for two years of data)
This plan makes sense if you want to own the device from day one. You have the most financial flexibility with this option because you have no obligation to the device - you're just paying for the data service and you can cancel service without worrying about any additional financial penalty. But you pay the most for those benefits.
I was being glib. Though you really don't own your home until that mortgage is paid off. Can't pay it off and your but is out on the street, just like a renter. And you have no equity to show for it, just like a renter.
‘Course I have; it should be evident I think you’d have to be crazy to participate. Car leases (not sales) are how GM was able to “recall” all instances of its EV-1 and destroy them, despite owners’ wishes.
Dude.
High-five for this reference.