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End of Lease turn-in If you decide not to keep the phone, you must turn it in at a T-Mobile store. You can then decide to start a new lease on a new phone, or talk with our team about other upgrade options, such as an Equipment Installment Plan (EIP).

On Demand (JOD) is an 18-month lease agreement that lets you sign a new lease and change your leased device once every 30 days. Since this is a lease and you aren't buying the phone, the monthly payments are reduced. You can buy the phone for the full retail price later or keep upgrading!

You get an upfront discount on the cost of a new flagship phone but you have to bring the phone back in ?good working condition? at the end of two years else pay a (often hefty) fee to buy the phone off of the carrier at the end of your two year contract.

On Demand, new and current postpaid customers can lease a great device for zero to little down with low monthly payments?no matter your credit score.

Phone leasing agreements Once the leasing term is up, you can either swap the old phone for a newer one (at likely a more expensive leasing cost), pay off the remaining cost of the phone immediately to own it outright, or switch to an installment plan to pay off the remaining cost that way.

Key Takeaways. Premium smartphone models can easily sell for $1,000 or more on average. 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.

No, you will not own the device at the end of your leasing term. However, you do have the option to buy your phone at the end of the term by paying the balance off. Cell phone leasing plans are payment plans where a carrier charges you each month to "rent" their phone.