The next time you pay for a phone over 24 months on an Australian telco, you won’t have to give it back at the end of the plan.
One of the scourges of the phone industry in Australia is no more, as Optus has joined Telstra in pulling the plug on lease plans.
A concept that could be regarded as largely ripping off customers has been put to the quiet death it deserves, as reported by Alex Choros at WhistleOut.
Phone leasing was a rather frustrating concept used by a handful of carriers in Australia that saw phones leased for a fraction of the price of sale, only to have telcos ask for them back at the end of a plan.
It meant you could potentially save a grand total of $10 per month on something like an iPhone XR by going on a lease plan, but at the end of 24 months you would have to give the phone back. Compare that where you didn’t save the $10 monthly and you’d get to keep the phone.
That’s a concept we’ve never been thrilled with, and it’s one not all carriers embraced.
Telstra and Optus did, however Telstra killed the lease plan when it changed its plans back in June, leaving Optus in the category.
But not anymore.
Based on some eagle-eyed spotting, the lease plan is dead, leaving customers in lease plans to either switch contracts to a lease to own plan, or return it and trade up to a new phone.
That’s great news for consumers, and hopefully means the age of terrible phone leasing plans is now over. So say we all.