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Sprint is currently the only carrier in the U.S. that offers cell phone leasing options. Their Flex Lease allows customers to lease a phone for 18 months, with the option to continue leasing, buyout the phone, or upgrade to a new phone at the end of the leasing period.

When you reach the end of your leasing term on Flex, you'll have the option of buying your device from Sprint via the Purchase Option Price. This amounts to about 25% of device purchase price or $200 or lessbasically, the difference between what you've already paid, and the full price of your leased phone.

Simply return your device in good, working condition to your original place of purchase and contact us to deactivate service within 14 days of activation, and Sprint will: Refund the device purchase price and any down payment, as well as any installment billing or lease payments made to date.

Purchase the device and own it. You'll pay the Purchase Option price listed on your lease agreement. After that, you own it!

Leasing a smartphone offers the benefit of being able to upgrade to the latest models regularly without incurring contract fees. Keeping a smartphone at the end of a lease term may require paying a buyout fee to purchase it.

What happens when my lease ends? At the end of the 18-month Flex lease agreement, customers in good standing can choose to: Upgrade to a new phone. The phone you were leasing must be returned in good working condition and undamaged.

If you decide to cancel your lease before the 18 month lease term is up, Sprint will require you to pay the remaining lease paymentsas well as the Purchase Option Price. After this, you are free to leave and take your device with you.