Phone credit may be needed in many different cases – from the old to the broken, when to the need of a new one (for example, for work), etc. Usually the phone is purchased either by leasing or paying the whole amount at once. If both of these options do not work for you (bad credit history, too low monthly leasing or savings), you may also be able to borrow a consumer loan from a non-bank lender who gives it to you. There are, of course, many other ways to make money – by selling something you no longer use, or starting to work harder, or doing better paid work.
Why buy a new phone?
If you want to buy a new phone, you should know why. Here are some reasons:
- More apps are available for new phones. They can also run more powerful apps.
- New phones have better accessories – they can take better pictures, record better sound, and listen to better quality music.
- New quality for everything you do now – if you tend to watch video on your current phone, new phones will have better quality displays. Perhaps your current phone will come with a bluetooth headset, which is much more comfortable to listen to, such as when you are running.
However, keep in mind that a new phone is neither a panacea nor something that will definitely improve your life. If you have an old phone that just calls, text messaging, and maybe sit on the Internet, the new phones come with a bunch of different apps that can be quite traumatic – watch your friends react when you hear a sound announcing a new message or butterflies. A new phone also means new time thieves .
Why choose leasing instead of credit?
Many telephone operators offer a new generation of phones for hire, if you use the services they provide. If you talk a lot and use mobile, the mobile phone you buy from an operator with a connection may not be that expensive at all. It is also standard practice to offer phones for hire, with the total leasing amount being only slightly more expensive or even lower than when the phone is sold separately. The new iPhone 7 (128GB version) at Tele2 costs USD 889 for immediate purchase or USD 36.99 per month for 24 months. All in all, when you pay in installments, you pay USD 887, which is less than paying the full amount all at once.
What kind of credit to choose?
However, if you decide on a loan rather than a leasing, you can get credit for your phone with various consumer loan providers. For example, Offers a loan of up to 3000 USD for up to 48 months. Banks, on the other hand, offer consumer credit at a more favorable interest rate, but at a commission fee (usually around USD 70), which usually makes this banking service at least as profitable as non-bank lender services.