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ChristopherG
Level 3: Gumshoe

Phone Lease Payout

I have accidentally entered into a lease plan instead of a buy plan, did this 18 months ago and it was 100% my faulty, I didn't read the fine print.

My iPhone 8 Plus, is working fine so want to pay out the lease at the end of the term. From what I can see by looking at these boards it will cost me 28% of the original cost.

 

My question is, if I were to continue with the lease plan once the contract is completed, will the final payout figure reduce by 3% for every month I extend the lease, so that in 10 months after the lease plan expires the payout would be zero?

Has anyone done this?

 

 

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5 REPLIES 5
Support Team
Support Team

Re: Phone Lease Payout

Hi ChristopherG, 

 

Thanks for reaching out.

 

Unfortunately that's not how the lease plan works and you'll still need to buyout the device if you want to keep it even if you extend the time on lease. If you had your heart set on this handset it's best to buyout at the end of contract.

 

Alternatively, you could upgrade to a buy plan at the end of contract for a different handset so that you're not parting with this money as long as the handset is returned in good working order. Our live chat team can discuss your options in more detail and what upgrades can be offered by looking into your account. 

 

Please let me know if you have any other queries.

 

- Matty

 

 

Need help? Check out our Community Wiki or Support Portal || Looking for a new mobile? Order online today || Get help with any Tech at Home with Telstra Platinum || Don't forget to tag answers as Accepted Solutions and give a Like to the member(s) who helped you out.

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ChristopherG
Level 3: Gumshoe

Re: Phone Lease Payout

Thanks Matty, so what you are saying is that if my payout is $350 at the end of the lease, and I continue on the plan for 12 more months, paying the same amount as I am now, then the payout will still be $350?
Level 22: Superhuman

Re: Phone Lease Payout

The best and most flexible team is Disconnections. If you ring 132200 and say Disconnections between 9am and 9pm AEST your call should be answered in Adelaide.


A "Like" is always appreciated. If my advice is a solution, please mark it. I'm not a Telstra employee.
50 + years exp. in radio comms., eg mobile phones since 1963, two-way radios, base stations, antennas & pagers. One of my mottos: "Believe in yourself, and you can accomplish anything".
Support Team
Support Team

Re: Phone Lease Payout

No worries ChristopherG, 

 

That's correct, as lease plans don't have a payment inclusion for the handset.

 

If you were to reach our live chat team through the link provided above, they may be able to work something out with you with a mobile repayment option, so that you can pay the handset off in instalments instead of a lump sum payment.

 

Let me know how you go.

 

- Matty

Need help? Check out our Community Wiki or Support Portal || Looking for a new mobile? Order online today || Get help with any Tech at Home with Telstra Platinum || Don't forget to tag answers as Accepted Solutions and give a Like to the member(s) who helped you out.

All moderation actions are supported by the CrowdSupport Community Guidelines

ChristopherG
Level 3: Gumshoe

Re: Phone Lease Payout

Thanks for that advice Professor, I contacted an Australian based call centre and they confirmed that at the end of the lease I have 2 options, send it back or buy it off a Telstra at an agreed value, and go on a BYO plan. I presume the payout is the 28% of the original cost.
I don’t want to sign up for another 2 years as my phone works fine and don’t see any game changing innovation out of Apple so hopefully it will last another 18/24 months.

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