It seems like most of the good stuff I write about comes to me in the car. Or the shower. But mostly, the car. I talked about Miranda’s Lambert’s Automatic (and idea I came up with in the car), My KitchenAid Mixer, and How I Feed my Family on $300 per month. All of those idea I came up with in the car. This one, however, is a doozy:
They’re financing cell phones now.
For real. First it was TV financing, then 6 (or 7) year auto loans, and now this. The radio advertisement I heard was for Sprint, but I believe AT&T is doing this now too! Here’s the deets:
The HTC One from Sprint is $0.00 down when you sign a 2 year contract. But, you make 24 payments of $28.34 to pay for your phone, with approved credit. Sounds like a fantastic deal, right? It’s not. Just take a look at the picture below:
Here’s the truth: those 24 payments of $28.34 add up to $680.16 over all 24 months, meaning YOU COULD HAVE BOUGHT THE PHONE OUT OF POCKET! Seriously, the phone’s out of contract price is $679.99. Who even does that! Isn’t that what we try to avoid by signing contracts? To get cheaper phones? To avoid paying full price? Gah!!!!!
Plus, you’re locked into a 2 year contract with this bad boy. With minimum monthly contract of $45 for cell service (one that has data and talking minutes limits), this is really shaping up to be a bad deal. And, in case you’re wondering, if you try to cancel, cancellation fees apply, and the full balance of the phone loan (hahahaha) becomes due.
Oh my God.
What is this world coming to?
Really, whoever thought this one up was a genius. I mean, who hasn’t been at line in the grocery store and seen someone with an iPhone paying for their food with food stamps. Apparently cell phones now rank higher than food, and therefore must be a good candidate for financing, just like cars, television, and surround sound.
But really, why would you even do this? Why, when you can get a brand spankin’ new contract-free Moto G from Republic Wireless for $150 (shipped), and have a plan that’s laughably lower priced with unlimited talk, text, and data Unlimited 3G Plan $25 per month from Republic Wireless when compared with sprint’s $45 Framily plan that has limits on data and the number of talking minutes. Let’s think about this by the numbers: (I’ve left off government taxes and fees because they differ so much by region)
Cost of Phone:
Republic Wireless: $150
Two Year Total Service Cost (Talk, Text and Data):
Republic Wireless: $600.00 Unlimited 3G Plan $25 per month from Republic Wireless
Total Cost: (2 year total)
Can I make this even better for you? Say you already have Sprint and you’re happy with the coverage you currently have. Want to save $1,010.18 AND keep the same carrier?!?!?!
I thought so :-) Republic Wireless uses a hybrid of Sprint and Verizon’s network (whichever has better coverage where you’re at) when not on wifi, so if you switch, not only will you save more than $1,000, you will get the same, if not better coverage, and you can even keep your number!
You don’t have to switch to Republic Wireless. You don’t even have to break your contract if you like your carrier.
But please, please, please, don’t finance your phone!
Linked up at:
DIY Sunday Showcase, Think Pink Sunday, SuburbsMama Link Party, Sunday Showcase, Happiness Is Handmad,Nifty Thrifty Sunday,That DIY Party, It’s Party Time, Sunday Showcase, Mommy Monday Blog Hop, Around Tuit, Mix It Up Monday, Creative Mondays, Sweet and Savory, Show Me Your Plaid Monday,Bloggers Brag ,Made By You Monday ,Monday Pin It Party ,Motivate Me Monday ,Thoughtful Spot Weekly Blog Hop ,Monday Funday ,Busy Monday ,Marvelous Monday ,Titus Tuesday ,Tuesdays at our home ,Tell Me About It Tuesday ,Tip Me Tuesday ,Tuesdays With A Twist ,The Inspiration Board ,Tutorial Tuesday ,Create Link Inspire ,Making a Home ,Something Fabulous Wednesday ,The Mommy Club ,Wow Me Wednesday ,Wake Up Wednesday, Adorned From Above Wednesday, Cast Party Wednesday ,Your Whims Wednesday ,The Project Stash ,Whimsy Wednesday ,We Did It Wednesday ,Wednesday Round Up ,Wine’d Down Wednesday ,Inspire Me Wednesday ,Whatever Goes Wednesday ,Something Fabulous Wednesday ,Wow Me Wednesday ,The Pin Junkie ,What To Do Weekends, Inspiration Gallery, Artsy Corner, Inspire Us Thursday, Thrifty Thursday, Weekend Reads, That’s Fresh Friday, KitchenFun and Crafty, Friday Frenzy, Inspire Me Please, Craft Frenzy Friday, Anything Goes, Pin Me Linky Party, Pin Worthy Projects, Friday Favorites, Best of The Weekend, Link Party Palooza, Friday Flash, Flaunt It Friday, Family Fun Friday, Frugal Friday, Weekend Bloggy Reading, Saturday Show and TellS, aturday Spotlight, Strut Your Stuff Saturday, Saturday Sparks, Saturday Sharefest, Serenity Saturday, Show and Tell Saturday, Get Schooled Saturday, Dare to Share Saturday, Skip The Housework Saturday, Silver Penny Saturday, A Little Bird Told Me