A few weeks after T-Mobile, AT&T, and Verizon all launched early upgrade/phone financing programs of their own, Sprint has decided that being late to the party is better than not showing up at all. While the nation’s third largest carrier has yet to officially announce the new “One Up” early upgrade program, CNET has learned that Sprint is preparing to launch it as early as September 20.
Here’s how Sprint’s program will work:
- A customer will purchase a new phone at full retail cost with $0 down, and a 24-month installment plan.
- If you have an “Unlimited, My Way” or “Unlimited All-In” plan, Sprint will also give you a discount of $15/month.
- At the beginning of month 13, you’ll be given the option to trade-in your existing phone (as long as it’s in good working order) and start a new 24-month One Up payment plan with a new phone.
In essence, the new One Up plan will allow you to get an unlimited Sprint plan for only $65/month, plus the cost of your monthly installments. It’s not clear whether or not this discount can be stacked with an employer discount, but I’m guessing the answer is no. Depending on the phone you choose, you will be allowed a yearly upgrade without having to pay that much more per month than you are already paying.
Based on the promotional materials obtained by CNET, consumers who purchase a $650 phone will save $220 over two years versus the comparable JUMP! plan from T-Mobile, and around $500 over AT&T Next. Existing Sprint customers who have a contract at least one year old are also eligible, although the offer might be a bit more limited – these customers will have to trade in their existing phones, unless they are already upgrade-eligible. Unfortunately, Sprint prepaid customers aren’t eligible for this promotion.
I have to say that this plan seems to be the most competitive with T-Mobile, and I’m interested in knowing how many of you might want to take advantage of it. Leave a comment with your thoughts below!