Mobile phone financing has become a common trend in the current day when more sophisticated and expensive phones are being introduced in the market from time to time. Many people need to upgrade their current phones but find it difficult due to the high prices imposed on the more sophisticated phones. There are various companies which are offering mobile financing to their clients by giving them a payment plans which are makes owning these phones easy and fast. Saving money for a phone over an extended period of time may be hard especially when other arises and during emergencies. Mobile financing makes it possible for people to possess phones even before they pay the full amount and they can pay on monthly bases depending on the agreement with the financing company.
Samsung is offers mobile financing on its products which are above $250 by providing a flexible payment plan. The process of using Samsung financing is easy and takes only a few steps. Clients do not need to visit physical stores to get financed as they can do so by visiting the company’s website. Clients need to fill their shopping cart with products worth at least $250, which in this case, a client will opt to buy a phone. The client will then apply for a credit and wait for only a few seconds to see whether they have been approved for a financing.
If the credit is approved, the customer will go ahead to check out and pay $0 at purchase. Samsung will be sending the client a monthly bill with details of their plans and due dates for his low monthly payments. Samsung offers financing on most of its latest phones including Galaxy S7, Galaxy S8 and Galaxy Note8. Samsung does not charge any interest if the amount is paid in full within six to twelve months. There is an interest of 29.99% imposed on products which are not paid in full within 6 or 12 months from the date of purchase.
T-mobile Equipment Instalment Plan (EIP).
T-mobile is providing a selected financing plan to both new and existing customers which allow them to pay for their devices over time on monthly basis. Customers can check their eligibility status for a mobile financing by visiting the company’s website under the ‘Shop’ section and selecting ‘Upgrade your device.’ If you find that you are eligible, select ‘UPGRADE’ and follow the instructions to view the payment options and shop for a new phone.
The company may require clients to make down payments after which the remaining amount is divided into 24 monthly instalments. The EIP requires a one year financing agreement between T-mobile and the clients, although the customer can choose to make a full or part of the financing at any time. Customers with current Extended Payment Schedule are not eligible for this financing plan until it is settled.
If you are looking to get a mobile financing in the latest smartphones which are unlocked and with any SIM card and network, Buy Mobiles will be a great idea. All customers need to do is visit their website and check the available phones on finance and add them to their cart. On checkout, you will be directed to the Deko website where you will fill your details to complete your order. Your credit application will be accessed for approval under a secure platform. Clients with a good credit will be approved while those who do not meet the requirements may be redirected to an alternative product which they can be financed. Payments are made by direct deposit from the client’s’ personal bank accounts. The first payment should be made around one month after signing the financing agreement. The length of repayment available is 24 months and clients have the option of paying their loan early by contacting the lender whose details are contained on the credit agreement.
For example a client who wants to Purchase a Samsung phone worth £533.99, he has to make a 10% deposit of £53.40. The remaining credit will be £480.59 which should be paid monthly for 12 months at £23.07 per month. This brings the total of the phone to £607.02 which means an interest rate of 14.9% was charged on the gadget.