ZTE’s new Lease-to-own Program for Mobile Devices

This program is set to cover both carrier locked or unlocked devices. The specifics on what it takes to get approved aren’t provided, but ZTE makes it sound like the leasing options will be open to many, maybe even most, interested parties, saying specifically that it has “leasing options for credit scores of all types”.

Once approval is received just pick out the ZTE device, make the first payment at checkout and then make the remaining payments as per the monthly schedule.

The new ZTE plan, provided through SmartPay Leasing Inc., let’s you select the lease period from six to 24 months. Once all payments are made, the lease is complete and customers own the device. This option allows you to pay off your lease without any penalty and also give you the option to upgrade, so long as your payments are current.

If you would like to upgrade, and your lease is up-to-date on payments, simply return the device to SmartPay in good working order, which will cancel the lease.

Leasing programs backed by smartphone makers have become more common as wireless operators move away from traditional two-year contracts and the device subsidies that come with those plans, and instead are requiring customers to pay full price for devices. “We also want the experience of purchasing and using a ZTE device to be easy for any consumer”, said Lixin Cheng, CEO and chairman of ZTE USA. “How customers want to pay versus the amount they are comfortable paying are equally important – and ZTE can provide the best of both worlds”.

Are you pining for a particular ZTE phone but don’t have the funds? Because they are running a strictly lease-to-own program, these plans won’t be available to residents of New Jersey, Minnesota, Wisconsin, or Wyoming. The report, citing an unnamed industry executive with knowledge of Samsung’s plans, said that Samsung could launch its leasing program in the next several months, although it could happen sooner. There is a deductible charge to replace a device, but no service charge like Apple and Google charge.