There’s a flood of hot new smartphones out right now, from the Samsung Galaxy S10 to the Google Pixel 3 and beyond. If you’re considering an upgrade, you may be wondering – is it better to pay for my new device upfront or in monthly installments? Read on to find out why paying in installments may be the better option for you.
Paying in installments
You may prefer to pay in monthly installments if you:
- Want to take advantage of promotions.
- Have good credit.
- Want the latest devices for a lower initial cost
Paying for your device in installments along with your monthly phone plan is the most common method of phone payment. Equipment Installment Plans (EIPs) mean you pay a much lower upfront cost—sometimes no money down—and the remainder of the price will be factored into a 12-30 month payment plan with your carrier. During that time, if you lose or damage it, you are responsible for buying a new one, unless you have a protection plan like Device Protection+ from U.S. Cellular®.
Paying in installments is great for new and existing customers, especially if you’re on a budget. Long-term mobile phone plans often include promotions that allow you to save almost half the price of your phone overall, so financing your device ends up being quite a bargain.
Paying upfront does give you the flexibility to upgrade or switch your mobile phone plan whenever you want, but it also means you pay for your new smartphone in full. That can be expensive, especially if you’re interested in one of the newest devices. Plus, you’ll miss out on any promos, so you may end up paying more for your phone all at once.
Ready to shop for your new smartphone? Browse the latest devices at U.S. Cellular®.