T-Mobile announces zero down "sale" on all phones for the summer
0. phoneArena 26 Jul 2013, 10:12 posted on
T-Mobile is announcing what it calls an "Unprecedented Deal" for this summer which offers zero down for all of the phones on the network. The carrier is even dropping the price of one of the most popular devices; but when you look closer, the deal isn't exactly as amazing as T-Mobile would have you believe...
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1. papss (unregistered)
At least they Re not making you pay more over the duration like the others and their deals...still lousy service though.
3. PapaSmurf (Posts: 9887; Member since: 14 May 2012)
I don't think you read the article at all. If you got an iPhone 5 16GB, instead of paying $145 + $21x24, you pay $0 + $27x24... Your monthly installments are higher, but barely come out cheaper in the course of 24 months.
6. squallz506 (banned) (Posts: 1075; Member since: 19 Oct 2011)
Dude, dont forget to factor in time-value of money. Assuming a risk free rate of interest of 4% the payments are actually 145+21((1-1.04^(-24))/.04)=465.19 VS 0+27((1-1.04^(-24))/.04)=411.67 A net savings of $54 because you are not paying up front.
9. k1ng617 (Posts: 264; Member since: 13 Oct 2009)
leaving it in the bank will net you less than 1% so that's not really a fair calculation.
17. squallz506 (banned) (Posts: 1075; Member since: 19 Oct 2011)
My money market account earns ~16%. 4 is more than fair.
11. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
lol ..... nice!! btw, Michael H's head just exploded when it saw your formula :)
18. squallz506 (banned) (Posts: 1075; Member since: 19 Oct 2011)
Lol its a simple present value of an annuity formula. Its called "a angle n". (1-v^n)/i where I is interest, n is # of periods and v is i^-1. Multiply a angle n by the payment and that's the present value of the payments. Actuarial math 101
19. Bernoulli (Posts: 2568; Member since: 01 Sep 2012)
Lol I could have used your help in engineering economics class
2. PapaSmurf (Posts: 9887; Member since: 14 May 2012)
I got excited when I read the title, but when I read you only save $1.99 in the long run, I stopped reading and started laughing. Only T-Mobile.
21. Shatter (Posts: 2036; Member since: 29 May 2013)
if it was att or verizon you would end up paying more in the long run.
4. -box- (Posts: 3978; Member since: 04 Jan 2012)
Hmm, if there's any savings on sales tax there could be more savings realized
8. k1ng617 (Posts: 264; Member since: 13 Oct 2009)
No, you are still charged tax on the full price of the phone. I did that last year with the Note 2.
5. davenycept (Posts: 199; Member since: 03 Jul 2012)
Am I the only one that sees tmo is killing me with these shenanigans? I just want to get a phone... I don't mind paying 239for a 2 year agreement but all this extra stuff is just an annoyance... does anyone else feel this way?
7. promise7 (Posts: 616; Member since: 03 Jul 2013)
I kind of agree, some ppl don't mind staying on a 2yr agreement for paying a susidized price. I thought t-mobile should have kept the option of paying a subsidized price and signing into a 2yr agreement, but also adding in their new no contract, pay full price of the phone plan. It would give users more options.
23. lolrus (Posts: 29; Member since: 18 May 2013)
You can still get a T-Mobile subsidized 2 year contract phone at a third party retailer.
Staples and Best Buy are two that I know of that carry the "classic" plans.
12. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
Nope but, the average consumer has sh¡t for brains and can't see the final cost.
10. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
Still a rip-off!! I swear the average consumer is so dense that they'll walk right into T-Mobile and swear this is a great deal!
20. Bernoulli (Posts: 2568; Member since: 01 Sep 2012)
Because it is a great deal? Over the lapse of two years you'd beat inflation, assuming Obama doesn't do something stupid and it stays at 3.4%, if it increases then it means more savings
22. Shatter (Posts: 2036; Member since: 29 May 2013)
Or buy a nexus 4 unlocked for $350 and save $300.
24. bigbmc26 (Posts: 43; Member since: 10 May 2012)
A Lumia 925 for $480 isn't anywhere near a rip off. You actually save $50 with this deal. Don't see the issue on certain phones. Apple is always a rip off!
13. xtroid2k (Posts: 510; Member since: 11 Jan 2010)
People complain regardless. If you have money to pu down awesome. If not, this is an awesome deal. You may not save that much money but the value of being able to walk into a store and come out with a phone of your choice with no immediate financial hold up has value in it self. I mean Americans have had credit since the 1930s and have accepted that sometimes you pay more for the privalage of instant gratification with out funds.
14. grapeseed87 (Posts: 123; Member since: 13 Mar 2013)
Its like if you dont have money, dont worry! You can still get the device you want but then will also have to pay eventually.
I think its a good deal on T-mobile's part, as the provider of phone them not taking anything upfront shows trust and flexibility.
15. salic (Posts: 24; Member since: 23 Dec 2011)
Why would a non contract carrier discount devices below their cost when you could leave the next day with your phone? The idea of $0 down appeals to a lot of people who find it much easier to cough up an extra $6/month than $150 up front.
16. MartyK (Posts: 732; Member since: 11 Apr 2012)
It's a great begining, any saving is better then No saving( even .50 saving)..not to mention your bill go down vs what other carries is doing at the present moment.