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Down payment and purchasing the phone at the end of the lease

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Journeyman

Down payment and purchasing the phone at the end of the lease

I enrolled in flex lease for Iphone X. I made $275 down payment. In my agreement it is written that if I want to but this phone after 18 months I have to pay (my purchase option) is $249.93. Nothing mentioned about down payment refunding.

I talked to a representative via chat and he told me that my downpayment will be refunded to me after 12 months and if I want to buy the phone after 18 months I will pay $725. 

I am confused. 

1) Will I get the down payment automatically after 12 months?

2) And how much I will pay after 18 months in both cases if I get the refund and don't get the refund.

 

 

6 REPLIES 6
Sprint Social Care

Re: Down payment and purchasing the phone at the end of the lease

Hello busraakdogan, thanks for reaching out to us! There are different terms when its comes to purchasing a new device, (Deposits, Down Payment or Capital Cost Reduction):

  • Service/Device Deposits:
    • Only required for discounted pricing/subsidy purchases.
    • Returned to the account after 12 months of service or upon subscriber cancellation.
  • Down Payment:
    • Down payment may be required when customers purchase equipment via installment billing (Monthly Installments).
    • Down payments apply towards the total price of the device, reducing the loan amount that is installment-billed.
  • CCR (Capital Cost Reduction):
  • CCR may be required when customers lease equipment.
  • Functions just like a down payment but for a lease the term “CCR” is used instead of “down payment.”
  • CCR applies towards the total price of the device, reducing the amount that is leased over the leasing period.

If you have additional questions or concerns, feel free to let us know.


Ciara
Sprint Social Care
Sprint Social Care

Re: Down payment and purchasing the phone at the end of the lease

busraakdogan

 

Since your currently on a lease, at the end of the contract you have the option to return your current device and upgrade to the next iPhone generation or pay the Purchase Option in order to own the phone.

 

The Purchase Option will be the same amount regardless the down payment made.


Ciara
Sprint Social Care
Journeyman

Re: Down payment and purchasing the phone at the end of the lease

I recently bought my iphone at the end of the lease.  It was supposed to cost $251, but it ended up being $289.  A 15% bump up.  There is no breakdown of the extra 15%.  Or a line saying tax.  I live in NYC where Sales Tax is 8.875%.  A rep told me that NYS charges this much for taxes for telecom.  Is this true?  I can’t find anything on the web about a 15% NYS tax for telecom for buying a phone.  Apple charges 8.875% tax on their iphones.  

I bought 2 phones from leases that had this 15%.  I’m feeling very uneasy.  

 

Sprint Social Care

Re: Down payment and purchasing the phone at the end of the lease

Hey @cloudriderwu. Let me take a look at this for a better understanding. Please check your inbox message, I sent you a PM.


Carlos
Sprint Social Care
Journeyman

Re: Down payment and purchasing the phone at the end of the lease

Wow. How does that even answer any part of that question. I mean every question and answer is like this from Sprint
Sprint Social Care S.M.A.R.T. Agent

Re: Down payment and purchasing the phone at the end of the lease

@Sssb0901, when reviewing leases and down payments, it's sometimes easier to explain once we're looking at your specific information. Is there a lease or down payment question that I can help you with?

 

 

 


 


RedCruzr
Social Care 

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