Sprint offers existing customers discounted iPhone rentals, but a new plan will be cheaper

Sprint is prepping a new pricing scheme for the iPhone 6 and iPhone 6 Plus, and on paper this one looks like a better deal than it actually is.

The gist of it — you can keep whatever existing plan you're on now and lease a new iPhone 6 for $20 per month, and this new promo will credit you back $15 per month. This brings the monthly lease total to just $5. The iPhone 6 Plus has a similar lease pricing plan — $25 per month with a $15 monthly credit. At the end of the two-year lease period, you either return the phone or you pay off the total. Sounds like a good deal, right?

It's not.

A much better idea is to spend the full $20 per month to lease a new iPhone 6, and get on the $50 monthly unlimited iPhone plan. For $70 per month (plus all those pesky fees) you'll save money versus an equivalent unlimited plan on Sprint which costs around $80 per month itself.

In any case, if you're interested in the new lease rebate deals, they start tomorrow and will be available through January 2015.

Source: Gigaom, ReCode

Jerry Hildenbrand

I'm an RHCE and Electrical Engineer who loves gadgets of all kinds. You'll find my writings across Mobile Nations and you can hit me on Twitter if you want to say hey.