Acquiring a brand-new phone can be an expensive exercise, but it doesn’t have to be. Before you get locked into long-term contracts and plans, remember that smartphone rental is always a viable alternative.
Smartphone rental is a growing service that enables users to hire on their own terms. Instead of costly buy now-pay later agreements, smartphone rental operates via modest weekly or monthly payment plans. A renter can access an all new iPhone or Samsung Galaxy for a brief period of time without the hefty costs of an upfront purchase.
Whether you are seriously considering smartphone rental or the idea simply sparks your curiosity, this article will break down everything you need to know.
Doing Your Research
There are two ways to approach the pre-hire phase. First place the responsibility on your hands to conduct the necessary research and compare current models on the market. Your other alternative involves speaking directly to telecom providers for advice or the companies hiring out the smartphones.
Regardless of the path you take, it is crucial to understand exactly what you’re looking for and what you need in a smartphone. For example, these key functional factors may include the following
- Screen size
- Battery life
- Camera quality
- Storage space
- Device compatibility
Finally, another major consideration is whether you fundamentally prefer Androids or iPhones. Clarity on this aspect will help to narrow down and inform your decision moving forward. If you are going to the effort of hiring a phone, there is no sense in acquiring a model that you don’t care for on a basic level.
Reasons to Rent
So, why do people opt for smartphone rental over buying outright?
1. Avoiding Long-Term Contracts
Regardless of the specific telecom provider, many phone plans come with a long-term lock in contracts and deals that you either cannot afford or don’t need. On the other hand, rental arrangements are flexible, and timelines can adapt to your circumstances.
Smart phone rental plans may range anywhere from 6 months to 12, 18, or 24. As this can change from company and company, remember to verify the available options prior to the application phase.
2. Accessing Ongoing Servicing and Repairs
These days, rental companies are far more than a supplier of goods. Services such as smartphone rental do not cease once the product is delivered. Instead, many providers deliver ongoing maintenance and repair services to ensure that your phone maintains its optimum functionality over the arranged rental period.
Another misconception is that the products you receive are second hand/used by the time they reach your hands. This is not only untrue but also what separates rental providers from trade-in businesses such as Cash Converters.
3. Smaller & More Manageable Payments
From cost-of-living pressures to yearly fees and differences in pay cycles, not everyone has the money to afford a brand-new phone upfront. Through your typical smartphone rental agreement, payments are lower and more manageable for the weekly/monthly household budget.
Additionally, rental providers also offer early rental agreement termination policies in case of unexpected circumstances.
4. A Temporary Solution
This is another key motivator. Smartphone rental is an excellent stopgap solution for those in dire need of a replacement phone. Further, it can also be a way to evaluate newer additions to the tech market - before you opt into a long term deal. Other temporary solutions may include overseas travel and the need for an emergency phone whilst staying in a new country.
In terms of quick access, smartphone rental offers an excellent short-term solution. Rather than having to negotiate a long term deal or upgrade to the latest model, this approach will quickly offer the opportunity to call, text, or use any number of the apps you need.
Smartphone rental periods will differ depending on the provider. However, the general across the board process involves a leasing arrangement occur a specified interval. For example, a brand-new iPhone rental may be available for 12 months at $24 per week or 36 at just $15. Deals can also exist for bundles of products.
Payment and Intervals
Contract agreements generally range from 6 to 12, 18, 24, or 36 month intervals. Once again, the specifics of these contracts will naturally fluctuate and depend on the rental company's policies. Before you undertake your smartphone rental, confirm the contract details to ensure that everything is crystal clear. This will help you to avoid any unforeseen costs and fees after the fact.
Consider Your Individual Needs
As we covered briefly in the ‘do your research’ section, it is vital to assess your needs and determine which type of phone works best. This decision primarily surrounds how you intend to use the device and what capabilities meet those concerns. Another key distinction is whether your needs surround personal or work use.
For users that only require the most basic functions, a more basic option should suffice. Alternatively, work commitments may dictate a need for the latest functionality, apps, storage, and communication tools.
What to Look for in a Rental Company
The quality of the rental company is just as important as the state of the phone itself. So, what factors can you look for before diving into a rental agreement?
1. New Products (ensure that the products sourced are new and match their listing)
2. Reliable Payment Systems and Framework (fast and consistent payment options)
3. Ongoing Service/Maintenance for Technical Faults (a safety net for any issues that may arise)
4. Product Warranties (enabling product replacement in case of major technical faults and damage)
5. Flexible Application procedures (an easy online or in-person process)
6. Experience/Track Record (demonstrating clear experience in the rental process and everything it entails)
7. Communication (clear and upfront communication over pricing, application, contract terms, product information, and more)
If you need further information, you can always reach out to the rental company directly. Best of luck!