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Level 1: Cadet

Fair Market Value - iPhone XS Max

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Does any know what the Fair Market Value calculation for an iPhone XS Max is?

 

It’s quite a strange situation. I’ve been forking our cash for mine for 2 years and could’ve bought it outright with the amount I have paid. I leased the phone in order to be able to swap it out but Telstra has apparently unilaterally cancelled that option so I’m basically left with a useless lease plan that I never would’ve entered into if I’d known the whole point of it would be undermined, and a phone I’ve effectively paid for. Now I’m being told I have to return it or pay the Fair Market Value. If the charge is anything other than but nominal I will be pretty disappointed. 

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Support Team
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Re: Fair Market Value - iPhone XS Max

Fair market value of a lease phone is calculated at 3% per month of the lease ie 24 x 3% = 72%, so FMV is 100-72%=28%. This doesn't take into account physical condition, I'd recommend visiting your local Telstra Store  https://tel.st/n7f9k for an accurate valuation.

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Level 1: Cadet

Re: Fair Market Value - iPhone XS Max

Same situation. Mine has a cracked back so I have to pay $190 for returned damaged device. That’s with Swap Assure rates. I was led to believe (& the contract fine print states it, albeit ambiguously) that Swap Assure would reduce the cost of a damaged phone in the first 12 months or if after 24 months, there is no cost for returned damaged phone. It even says that it covers lost/stolen devices.

 

After paying almost the entire cost of the phone over the last 24 months, Telstra won’t even uphold their Swap Assure terms. Somehow the terms I contracted under can be changed at any time & Swap Assure doesn’t cover lost/stolen. If phone is not returned ill be charged fair market value.

 

Which is estimated at around $600. I can buy refurbished iPhone XS Max on Amazon for less. Plus, as I’ve mentioned, I’ve almost paid for the phone over the term of the contract.

 

I also recall that with Swap Assure you could keep the phone at the end of the contract for a small fee? Can’t reaffirm that, but not anymore. No return, $600 penalty!

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Support Team
Support Team
Accepted Solution

Re: Fair Market Value - iPhone XS Max

Fair market value of a lease phone is calculated at 3% per month of the lease ie 24 x 3% = 72%, so FMV is 100-72%=28%. This doesn't take into account physical condition, I'd recommend visiting your local Telstra Store  https://tel.st/n7f9k for an accurate valuation.

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

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Level 2: Rookie

Re: Fair Market Value - iPhone XS Max

You're not the only one. I'm in the same situation and have had to pay the lease cost each month (money down the drain) until the phone I wanted was released, which has just happened. 

As usual with Telstra, they have not actually gotten rid of the ability to upgrade your phone before the standard 2 years is up, they have just created a new name "Upgrade & Protect" and changed the conditions and excluded people who signed up to their previous similar plans.

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