T-Mobile announced on Thursday a new payment plan that allows customers to get a new phone whenever they want.
Called Jump On Demand, the payment plan offers the lowest monthly costs for an iPhone 6 upon trade-in. There are six devices eligible as part of this program at its launch including: iPhone 6, iPhone 6Plus, Galaxy S 6, Galaxy S 6 edge, Galaxy Note 4, LG G4.
The company previously rolled out its Jump! program back in 2013, which enabled customers to upgrade to a new smartphone without paying full price. Instead, for an extra $10 a month, customers paid off the device in installments, and were allowed to make an upgrade twice a year without having to pay off their current phone.
With the new updates to the program, one monthly payment will cover the cost of a new smartphone. Customers can still trade it in for a new device at any time without any fees.
Customers with qualifying credit can get a new phone without putting anything down for for phone or paying sales tax. That means any T-Mobile customer in the program can walk about with a brand new iPhone or Android phone without opening their wallets.
"While the carriers are breaking every promise they've ever made with their knock-off upgrade programs, we're racing full speed ahead, making one of our most popular moves even better," T-Mobile president and CEO John Legere said in a press release. "Jump! On Demand is the best way to get a new smartphone whenever you want. Zero out the door. Zero at upgrade. Zero fees. Zero wait. Zero BS."
If you want to upgrade to the latest version of your smartphone, those in the Jump On Demand program can do so when they want. However, they can only upgrade three times a year.
The customer's current phone must also be checked by employees to make sure it's in good condition to be swapped for a new device.
Those who were previously enrolled in the Jump program can switch over to Jump On Demand the next time they upgrade. The new payment plan will not add a $10 a month upgrade fee since upgrades are now included.
Monthly payments are about the same as financing a smartphone, and adding insurance to the device in this payment option costs $8 per month.
The new payment plan is T-Mobile's attempt to further set itself apart from the competition. Verizon customers, for example, have to pay off their phones before upgrading to a new phone. More than 10.6 million people signed up for T-Mobile's Jump program two years ago.
Photo: Mike Mozart | Flickr
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