Whether you only upgrade once every two years or every time a new handset drops, following the latest in mobile hardware can be an expensive hobby. Lookin’ to keep sales up in the face of an economic slump, T-mobile has introduced a new means of paying for your latest gear fix: the Equipment Installment Plan.
If you’re a “qualified customer” (in other words, your credit doesn’t suck), T-Mobile will give you the option of splitting up the tab for hardware and accessories across four months. The first month gets paid up front, and the next 3 payments are tacked onto each subsequent month’s bill. With no finance fees, interest, or start-up fees involved, it seems like a pretty solid way to feed your mobile addiction; rather than one big dent in your wallet, you get four small dings. The installment plan is open to those coming to T-Mo anew and those who are already locked into contract.
We’re still digging a bit deeper to try to find a catch in the details (for example, are there additional fees if a hardware payment is late?) – we haven’t found anything yet, but we’ll let you know if we come across any red flags.
I’m surprised more cell carriers don’t do that.
I can confirm this as the rep did this for me. I got the G1 and the new jawbone and was given the ability to pay a chunk now and split the remaining three each month. I was told there is no catch and no fee for this service.
The catch is, its not evenly split up. I tried to get a new BB Curve 8900 they wanted to charge me 429.99 then they say i could split it up over 4 months i thought cool, but then she broke down the payments 352.00 right now which counts for the first month and then 25.99 the next 3 months. so i didn’t really see the advantage. At least that the deal they tried to give me.
Hopefully this catches on with the rest of the providers when it comes to their high end devices.
I ported my girlfriends Verizon line over, and got her a white G1 on Saturday. They offered to evenly split up the $189 over 3 months. This was at the Manchester, NH Tmobile store in the mall.
That was pretty cool of them Joshua!
for me i just told them my t-mobile wing was acting up and they said i was “qualified” to get a G1 and it will be arriving tomorrow!