Generally, people purchase a new mobile phone. But there is also an opportunity to lease your phone. To lease mean to rent. In this case, you do not actually own the phone rather you rent it out like a house. Leasing is fixed for a particular period of time. After the end of the term, you will have to return it in a good working condition. Read this article to know whether mobile phone renting is a good scheme for you or not.

Why Should I Choose Mobile Phone Leasing?

In general terms, mobile phone leasing comes under contract phone plans with the handset. By leasing, network service providers offer you many extra perks. This extra perk includes bonus data, discounts, and various other incentives. The validity of mobile leasing is usually 24 months. At the end of your contract, you do not have a mobile to use or to sell second-hand to make some dollars.

After the completion of the term, you will have to return your smartphone in a good working condition. If you were not able to do so then you will be charged an extra fee. It is similar to losing your bond. You can also upgrade your handset after 12 months for a low cost. A large number of smartphones are available out of which you can choose one for yourself.

Optus ‘Flex’ Phone Leasing

Latest leasing phone plans by Optus are called ‘Flex’ plans. They have better flexibility than their previous counterparts. It is because they offer a mobile upgrade after 12 months just for $99. According to Optus, you can save up to $240 over 24 months if you lease, rather than buy. Flex plans offer a lot of bonus data at a lower price. No physical damage should be visible on your handset. A cracked screen will cost you $229. More prominent physical damage could set you back $499.

You can get some of the cheaper iPhone X plans by Optus. Extra privileges like data-free music streaming, international calls, and subscriptions to Optus Sport, which airs English Premier League soccer are also available.

Therefore, you will always remain on top of the latest trends. This means a new smartphone for you every year with the latest technology and stylish look. iPhone 8, iPhone X, and Samsung Galaxy S8 phone plans are also available.

Optus Phone Upgrades – New Phone Trade Up

If you are on a two years contract phone plan but wish to get a new handset or upgrade the existing one, then Optus has a way out for you. On 12 months into your plan, you can pay a one-off fee of $99. This will allow you to have a new handset on a new 24 months phone plan. You will have to return your current mobile in good working condition to your nearest Yes Optus store. You can also upgrade it online by logging in to the Optus official website.

Or you can keep your current phone and simply pay out its full remaining cost. The remaining cost will include any sum of money that Optus was going to cover. And then trade up to a new phone on a new 24 months phone plan.

Find more on Yes Optus Mobile Plans

How to Trade Up?

• Check if you are twelve months into your current ‘My Plan Plus’ plan. Log in to your account on the official website of Optus. Check your contract status in the My Account page.
• Your current phone must be in good working order.
• Back up your mobile before visiting a Yes Optus store.
• Restore your current mobile to factory settings before handing it over to the staff in the Yes Optus store.
• Now pay a one-off fee of $99.
• Choose a new smartphone on a new 24 months phone plan.

Telstra ‘Swap’ Phone Leasing

Telstra mobile leasing option is similar to Optus. Latest leasing phone plans by Telstra are called as ‘Go Mobile Swap’. You can upgrade after 12 months just for $99. This is applicable for 24 months contract plan and the phone must be in good working order. Any physical damage to the mobile may cost you up to $499.

Additional incentives like signing bonus data and discounts are offered in ‘Swap’ phone leasing. Significant bonus high-speed data may start from 10 GB or more. Normal phone plans give very low bonus data.

What Extras Does Telstra Mobile Offer?

Generally, you have to sign up for a contract plan in order to get extra features or offerings from a prepaid plan. Some of the contract plans have free 12 month AFL or NRL pass as an additional feature. Few of them even have access to Apple Music for a limited amount of time. No charges are applicable but data charges still apply to them.

If you are going for broadband or home phone service, then you can look for a bundled discount offer. Generally, contract phones offer various kinds of discounts. Telstra Air provides all its contract customers across all plan types with the public Wi-Fi network.

Check out more about Telstra Air

Alternatives to Phone Leasing

There is an alternative to mobile phone leasing. You can purchase a mobile on a regular phone plan. Then when the phone plan is over, you can sell it second-hand and get some dollars. Another alternative is to get your own mobile phone outright and source a SIM-only plan. While iPhones and Galaxies require significant upfront cash outlays, it could work out cheaper in the long run. Or you can also look up for phone plans by Mobile Virtual Network Operators (MVNOs). Moose Mobile, Amaysim, Lycamobile, and Vaya are some of the MVNOs offering cheap phone plans. Leasing is a good option for many individuals. But it may be an issue for some accident prone people. It is because service providers need your mobile in a good working order.