Renting smartphones has become popular like never before. People tend to have their hands on the latest technology and try the features provided on the latest phones. But it is not possible for everyone to change their mobile phone every year because smartphones are a bit expensive. Therefore, people and the mobile phone providers have found a midway: rent to own phones. One cannot buy a new high-end smartphone with the evolution of every latest technology, but everyone can rent it and use it.

Mobile phone rentals allow customers to switch to new phones, get their hands on the latest technology and try new advanced features. Renting a phone is also an ideal solution if you are thinking about purchasing a smartphone and want to save yourself from buyer’s remorse. Renting a smartphone is just like leasing an apartment or a car, but don’t mingle it with buying a phone on EMI. While you rent a phone, you are required to sign a contract with the mobile phone renting company, you get the right to use the mobile phone for a definite period, and in return, you will have to make scheduled payments. Renting a mobile phone offers you several benefits; scroll down to find out what they are.

It is an inexpensive option.

Yes, you read it right! Rental phones are a more affordable option for regular users. When you buy a mobile phone from a high-end brand, it costs you around $1000 or more. However, you can rent a top brand’s smartphone for just $50 to $100, followed by fixed monthly payments. If you calculate your total lease cost when you return the phone after the set period of your contract, you will find out it is much lower than the list price of the brand-new phone.

You get a chance to use a top-of-the-line smartphone.

Today’s tech-savvy generation aspires to own the latest and best technologies. Buying a new model every time the mobile manufacturers come up with a new version is absurd. But when you rent out a phone, you can anytime terminate your contract and get a new one whenever the next latest model comes out. You can use the top-of-the-line mobile phones without making a hole in your pocket.

You get a chance to test before you buy

How about if you get a test run on a mobile phone before you buy it? This is the most widely acclaimed benefit of rental phones. When renting a mobile phone, you can take your most desired mobile home, try out its features, check out surprising updates, make yourself comfortable using it, check out the grip of your hand, and more before shelling out your hard-earned money.

You get an option of a buyout.

Many renting companies provide an option to purchase the mobile phone you have been renting. Therefore, after the end of your lease term, you can talk to the providers and find out the cost if you want to buy the same phone. And don’t forget to check it with other providers because the price of the rented phone may vary from one company to another.

Things to consider when assessing rent to own phones

To ease out the process, you first need to analyse your budget; whether you can afford a top-end or mid-range model. Next, you need to determine your needs. To give you ease, here are a few factors you need to consider when assessing rent to own phones:

• Whether it is an Android or iPhone
• The usability of the mobile phone
• Rental price of the phone
• Phone’s storage space and whether it is expandable or not
• Screen size and display quality
• Camera quality
• Speed of the processor
• Battery life

There is a sheer wealth of smartphones available for rent-to-own, which are likely to make you feel overwhelmed. You can check the guideline requirements and pick the device of your choice.