Image: T-Mobile
What we know so far
- T-Mobile is launching EIP Flex 36 on Thursday, August 6, allowing customers to finance a new phone with $0 due at the time of sale.
- EIP Flex 36 is a financing plan, not a lease. The customer owns the phone once all 36 monthly payments are complete.
- T-Mobile's Essentials 2.0, Experience More 2.0, and Experience Beyond 2.0 plans carry over the same benefits as their previous versions, with EIP Flex 36 and EIP Standard 36 financing now available at checkout.
T-Mobile has announced EIP Flex 36, a new financing option that removes the upfront cost of buying a phone, launching Thursday, August 6. Qualified customers will be able to walk out of the store with a new device and pay nothing at the time of purchase. Instead of a down payment, the full cost of the phone is spread across 36 monthly installments.
The announcement follows Apple's own move into monthly device payments. Apple recently launched its Apple Upgrade program through a partnership with Klarna, which lets customers pay monthly for an iPhone, Apple Watch, iPad, or Mac. That program is a lease, not a financing plan. Customers do not own the device unless they make an additional payment at the end of the term, and Apple has stated that ending a lease early can result in substantial fees. T-Mobile's program works differently. EIP Flex 36 finances a phone the customer already owns, with no buyout payment, no device return, and no lease-style early termination fee attached to the phone itself.
See T-Mobile's current phone deals
Customers interested in a $ 0 out-of-pocket phone can compare T-Mobile's current lineup of plans and deals below.
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T-Mobile
Experience Beyond
$100.00/mo
with Auto-Pay + Taxes and fees
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T-Mobile
Essentials Saver
$50.00/mo
with Auto-Pay - Taxes & Fees NOT included
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T-Mobile
Experience More
$85.00/mo
with Auto-Pay + Taxes and fees
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What is EIP Flex 36?
EIP Flex 36 finances the full cost of a phone, including taxes and fees, over 36 monthly payments. Well-qualified customers can access this plan with $0 due at the time of sale and 0% APR for a limited time. Customers who do not qualify for the $0-down offer still receive a lower upfront cost rather than none at all, with an APR between 0% and 24% depending on creditworthiness.
T-Mobile has also introduced a second financing option called EIP Standard 36. This is the carrier's existing financing plan extended from the standard 24 months to 36 months, with 0% APR available to every customer regardless of credit. Extending the term by a year lowers the monthly payment, which is a significant change given that many current flagship phones now cost more than $1,000.
Both programs are financing plans, not leases. Once a device is paid off under either EIP Flex 36 or EIP Standard 36, the customer owns it outright.
EIP Flex 36 vs. Apple's new leasing program
Apple Upgrade launched in late July through a partnership with Klarna. Both programs let customers avoid a large upfront payment by spreading the cost of a device across monthly installments, but the two programs differ significantly in what happens once the payments are made.
Apple Upgrade is a lease. iPhones and Apple Watches are available on 12- or 24-month terms. At the end of the term, the customer must return the device, begin a new lease on an upgraded device, or make an additional payment to purchase the device outright. Apple has stated that ending a lease before the term is complete can result in substantial fees.
EIP Flex 36 is a financing plan. There is no buyout payment required at the end of the term and no device to return. Once the 36 payments are complete, the customer owns the phone outright, as with any other carrier financing plan. The tradeoff is that Apple Upgrade is built around upgrading to a new device every one or two years, while EIP Flex 36 is structured around financing one device over three years, with the option to pay it off early.
What is changing with the 2.0 plans
Existing T-Mobile customers keep their current plan benefits regardless of whether they switch plans. Customers can remain on their existing plan or move to the updated Essentials 2.0, Experience More 2.0, or Experience Beyond 2.0 plans, which carry over the same benefits as their previous versions with EIP Flex 36 and EIP Standard 36 now available at checkout.
- Essentials 2.0: Unlimited talk and text, 50GB of premium data, and weekly T-Mobile Tuesdays perks.
- Experience More 2.0: Everything in Essentials 2.0, plus unlimited premium data, mobile hotspot, high-speed data in over 215 countries and destinations, Netflix on Us, Apple TV+ for $3 a month, and a 5-year price guarantee.
- Experience Beyond 2.0: Everything in Experience More 2.0, plus T-Satellite connectivity, Hulu and MLB.TV on top of Netflix, and $5 connected device add-ons. New switchers can save $750 in the first year between the sign-up credit and built-in perks.
Based on T-Mobile's announcement, none of these plans appear to be increasing in price or losing benefits to accommodate the new financing options. Final pricing and plan details will be confirmed when the 2.0 plans launch on August 6.
Switch and save with T-Mobile
Switching carriers used to mean a stack of upfront costs before you even left the store. That's no longer the case. Between EIP Flex 36 removing the down payment on a new phone, device credits covering your remaining device payments elsewhere, and the 15-Minute Switch process, T-Mobile makes it easy.
So switch now and start enjoying a premium plan.
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T-Mobile
Experience Beyond
$100.00/mo
with Auto-Pay + Taxes and fees
|
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T-Mobile
Essentials Saver
$50.00/mo
with Auto-Pay - Taxes & Fees NOT included
|
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T-Mobile
Experience More
$85.00/mo
with Auto-Pay + Taxes and fees
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Jessica Santero
Staff Writer
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