• T-Mobile Testing 36 Month Equipment Installment Plan



    T-Mobile readers have well known for some time that their favorite carrier offers Equipment Installment Plans that cover a 24 month period. According to a few customers they are seeing something different when they log into My T-Mobile and try to add a new line or upgrade.

    According to TMoNews Reader P Doobs, T-Mobile offered him a 36 month EIP on the Samsung Note 9 bringing the price to $24.17 per month. I logged in to my account and I was also offered the same 36 month EIP option but only for the Note 9 so far.



    Why would anyone want to be locked to a 36 month EIP in the first place? Well it allows users who want an expensive flagship device to get it at zero down with lower monthly payments. Plus you don't incurr any interest and you can always pay it off early at any time.

    What do you guys think? Do you see this option when you log on to My T-Mobile for upgrades or new lines?




    https://www.tmonews.com/2018/10/t-mo...tallment-plan/
    This article was originally published in forum thread: T-Mobile Testing 36 Month Equipment Installment Plan started by @TheRealDanny View original post
    Comments 28 Comments
    1. themanhimself's Avatar
      themanhimself -
      Quote Originally Posted by @TheRealDanny View Post
      Attachment 160020

      T-Mobile readers have well known for some time that their favorite carrier offers Equipment Installment Plans that cover a 24 month period. According to a few customers they are seeing something different when they log into My T-Mobile and try to add a new line or upgrade.

      According to TMoNews Reader P Doobs, T-Mobile offered him a 36 month EIP on the Samsung Note 9 bringing the price to $24.17 per month. I logged in to my account and I was also offered the same 36 month EIP option but only for the Note 9 so far.

      Attachment 160021

      Why would anyone want to be locked to a 36 month EIP in the first place? Well it allows users who want an expensive flagship device to get it at zero down with lower monthly payments. Plus you don't incurr any interest and you can always pay it off early at any time.

      What do you guys think? Do you see this option when you log on to My T-Mobile for upgrades or new lines?




      https://www.tmonews.com/2018/10/t-mo...tallment-plan/
      A couple reasons it's decent, it's one way to lower payments with how expensive phones are. If someone is sure they are staying for 3 years it's not bad.

      If someone is on the fence or likes to switch it's prob not the best although you can always pay things off early but that could be hard for most for a 1k phone.

      I see good and bad depending on individual circumstance
    1. cr0w's Avatar
      cr0w -
      Jesus ! “I have a mortgage on my phone” 😂
    1. @TheRealDanny's Avatar
      @TheRealDanny -
      Several years back we thought that if OEM's sold phones directly to the consumer then it would cause smartphone prices to drop.

      Although there are several low and mid range devices that are affordable most flagships get more and more expensive each year.

      I personally have no need for a 3 year smartphone financing deal but I'm sure it'll be attractive for some.
    1. formercanuck's Avatar
      formercanuck -
      There's at least a few reasons why its 'not so good'. This follows into the realm of other 'expensive' items such as vehicles or homes, where vehicles have gone from '3 year loan' to 5 year loan, as prices have gone up - note, vehicles are more expensive, but last longer than they used to. Homes - 30 year was 'normal', banks have floated longer loans... as the price keeps going up.
      The worst part with cell phones is that... they have planned obsolescence, and 3 years is typically the end of life - for battery, support, and patches... with the first and last truly being the most important. Try to sell that Samsung Galaxy 7 or iPhone 6s... not worth much, yet you would just be finishing payments on it.
    1. Wide_opeN's Avatar
      Wide_opeN -
      Good find @ Danny and sure enough it's available on mine.
    1. @TheRealDanny's Avatar
      @TheRealDanny -
      Might be an internal push to get as many subs on those newer devices capable of Band 71 and *ahem* Band 41.
    1. Qt0's Avatar
      Qt0 -
      installment plans and line credits are the new 2 year contracts.
    1. ilvla2's Avatar
      ilvla2 -
      Three years? Ouch.
    1. bakedapple's Avatar
      bakedapple -
      Quote Originally Posted by cr0w View Post
      Jesus ! “I have a mortgage on my phone” ��
      Yep. Just like having a mortgage on furniture or on a mattress or any other item.
    1. Peterfield's Avatar
      Peterfield -
      Just another name for a three year contract from the Uncarrier. Doesn’t feel right.
    1. ilvla2's Avatar
      ilvla2 -
      Quote Originally Posted by cr0w View Post
      Jesus ! “I have a mortgage on my phone” 😂
      The Lord doesn't have anything to do with this.
    1. manofstill2012's Avatar
      manofstill2012 -
      I know some people who would go for the 36 month to avoid the down payment I really don’t blame some people one reason why I left T-Mobile was I got tired of having to put down an couple hundred to get an new phone hell my friend wanted the new iPhone but T-Mobile wanted 380 I think and all that dose is bring his monthly payment to 30 an month I pay 40 an month and no down payment


      Sent from my iPhone XS Max
    1. Mrp Alert's Avatar
      Mrp Alert -
      Where are the Canadian HoFo readers? 3 year contracts are normal up north.


      Sent from my iPad using Tapatalk
    1. JSMB1997's Avatar
      JSMB1997 -
      It's been confirmed by T-Mobile, they are now implementing 36-month financing and all bill credit offers have shifted as well beginning 10/19. If it mean't $0 down, I would take the 36-Month Financing, but personally I would pay 50-100% more on the device and pay it off in 18-24 months.

      https://www.t-mobile.com/news/trade-...-up-samsung-lg
      https://www.phonescoop.com/articles/article.php?a=21294
    1. JSMB1997's Avatar
      JSMB1997 -
      Quote Originally Posted by Mrp Alert View Post
      Where are the Canadian HoFo readers? 3 year contracts are normal up north.


      Sent from my iPad using Tapatalk
      I'm pretty sure their government essentially banned those a couple years back.
    1. @TheRealDanny's Avatar
      @TheRealDanny -
      Quote Originally Posted by JSMB1997 View Post
      It's been confirmed by T-Mobile, they are now implementing 36-month financing and all bill credit offers have shifted as well beginning 10/19. If it mean't $0 down, I would take the 36-Month Financing, but personally I would pay 50-100% more on the device and pay it off in 18-24 months.

      https://www.t-mobile.com/news/trade-...-up-samsung-lg
      https://www.phonescoop.com/articles/article.php?a=21294
      I think that is what a lot of people will do.

      Those previously on the fence or unwilling to put $350+ down on the latest flagship with tax will get it for zero down on the 3 year plan then pay it off in bigger chunks when they can ie: tax refund.

      That's the way I did things in my early 20's. My winter spending spree was made possible by my tax refund on the way.

      The only downside I see from a carrier perspective: With users selecting longer financing options thus slowing the upgrade cycle it theoretically may take longer to get users onto the newest technology that supports the newest air interface ie: 5G NR. For carriers who openly embrace and support the newest voice/data technologies and whose business model revolves around efficiency like T-Mobile it's something to consider.
    1. smsgator's Avatar
      smsgator -
      Quote Originally Posted by themanhimself View Post
      A couple reasons it's decent, it's one way to lower payments with how expensive phones are. If someone is sure they are staying for 3 years it's not bad.

      If someone is on the fence or likes to switch it's prob not the best although you can always pay things off early but that could be hard for most for a 1k phone.

      I see good and bad depending on individual circumstance
      Once you've decided to take out a mortgage on a phone, a three year term versus a two year term is of little consequence, especially at 0% interest.

      This is a wise move. With people keeping their phones longer it doesn't really cost the carrier much to extend the terms and it locks the customer into the carrier unless they can pay off the phone earlier. It could also help drive down T-Mobile's very high churn rate which is a key metric of how a carrier is performing. <https://www.fiercewireless.com/wireless/how-verizon-at-t-t-mobile-sprint-and-more-stacked-up-q1-2018-top-7-carriers>.
    1. themanhimself's Avatar
      themanhimself -
      Quote Originally Posted by smsgator View Post
      Once you've decided to take out a mortgage on a phone, a three year term versus a two year term is of little consequence, especially at 0% interest.

      This is a wise move. With people keeping their phones longer it doesn't really cost the carrier much to extend the terms and it locks the customer into the carrier unless they can pay off the phone earlier. It could also help drive down T-Mobile's very high churn rate which is a key metric of how a carrier is performing. <https://www.fiercewireless.com/wireless/how-verizon-at-t-t-mobile-sprint-and-more-stacked-up-q1-2018-top-7-carriers>.
      The problem for me is I would get bored with a phone before the 3 years would be up
    1. JSMB1997's Avatar
      JSMB1997 -
      Quote Originally Posted by themanhimself View Post
      The problem for me is I would get bored with a phone before the 3 years would be up
      Not only that, but I would be worried about software support. As I said over on Reddit as much as I like Samsung's flagship phones, I wouldn't want to be locked in for 3 years because they barely support their phones for that time period.

      Unfortunately, I believe this will only benefit iPhone users who will still have hardware and software support after 3 years. Especially considering Apple's position on longer upgrade cycles.

      While it's possible Samsung will extend their support to match the new financing terms being rolled out. Although, I won't hold my breath especially if the other carriers aren't following suit.
    1. manofstill2012's Avatar
      manofstill2012 -
      just had 4 family members who just left them there pieces are only for new


      Sent from my iPhone XS Max
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