T-Mobile announces zero down "sale" on all phones for the summer

T-Mobile announces zero down "sale" on all phones for the summer
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.

The solid part of the deal is that over the course of a 24-month Equipment Installment Program (EIP), you can save a bit on certain devices, like the HTC One, which will cost $600 over the EIP rather than $649. Of course, you may already see where the not so great part of this "sale" is happening. While T-Mobile won't be collecting any up front payments for devices, the monthly EIP will be higher, which offsets the value of the deal

For example, the iPhone 5 sells for $145.99 down with 24 monthly payments of $21; but with the new promotion, the iPhone 5 will be zero down and $27 per month for 24 months, meaning you'll end up paying just $1.99 less than if there had been the up front payment. The press release below has a breakdown of the monthly costs of the most popular devices on the network.

As we said, some devices will get you more of a discount over the length of the EIP, but most savings won't be more than about $50. The zero down deal will begin tomorrow, July 27th, through your local T-Mobile retailer, and online. 

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