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FAQs about Sprint Lease

Last Updated: Jan 31, 2017

General questions about leasing

What is Sprint Lease?

Sprint Lease is an industry-first option that gives you the flexibility to lease select smartphones and tablets for a lower monthly cost versus purchasing the device. A lease is different in that Sprint owns the device. At the end of your lease term, you can purchase the device and own it outright, or return it to us and upgrade to the latest device.

What lease options does Sprint offer?

  • Sprint Lease: Lease popular Android devices for 24 months
  • iPhone Forever: Lease select iPhones for 18 months and upgrade anytime after 12 payments

Where can I lease a device?

You can lease devices at Sprint stores, Apple stores, Best Buy stores, Target, Nebraska Furniture Mart and on sprint.com.

Does the activation or upgrade fee apply when leasing a device?

Yes, all standard activation or upgrade fees apply.

How can I get early upgrades?

  • iPhone Forever allows customers to get the latest generation iPhone anytime after 12 payments
  • Purchase your device with Monthly Installments or one of our 24-month leasing options and add the Early Upgrade option for $5 per month. After you've paid the $5 charge for 12 consecutive months, you can turn in your device and upgrade to a new device.

What is the $5 Early Upgrade option and how does it work?

The Early Upgrade option is available to customers who are upgrading a phone through Sprint Monthly Installments or one of our 24-month leasing options with a qualifying plan. Simply choose to add-on the $5 per month per line early upgrade option plan within 30 days of the new activation of a new phone. After you've paid the $5 monthly charge for 12 consecutive months, you can upgrade to a new phone on Sprint Monthly Installments or one of our leasing options. Giveback of your current phone will be required. See Sprint Giveback Program Terms for details. The charge will discontinue either when you choose to upgrade the phone or pay off all of your installment payments.

The $5 Early Upgrade add-on is not available for customers who purchase a phone with 2-yr discount pricing.

Can I cancel my $5 per month per line early upgrade option?

Yes, you can cancel the $5 monthly add-on at any time. If you cancel, you will not be permitted to add the option back on until your next phone purchase with Sprint Monthly Installments or one of our leasing options and you will lose the option to upgrade early if you have not completed any early upgrades that you are eligible to receive. Early upgrade option payments made prior to cancelling the option are not refundable.

How do I exercise my Early Upgrade option?

Early Upgrade for Monthly Installments, Sprint Lease, or iPhone for Life Plan: Requires active add-on thru time of upgrade with minimum of 12 consecutive payments of both the add-on and an installment agreement for phones, new phone Installment Agreement, account in good standing, and give back of current eligible device in good & functional condition. After upgrade, remaining unbilled installment or lease payments for giveback device are waived. A device upgrade does not guarantee customer can retain current plan.

Early Upgrade for iPhone Forever Plan: Customer may choose to upgrade to the latest iPhone model with a new lease agreement and give back of current eligible device in good working condition. After upgrade, remaining unbilled lease payments for giveback device are waived. The lease amount will reflect current lease pricing available at the time of the upgrade.

Customers who exercise their Early Upgrade option can exchange their device for a different device within 14 days with our Sprint Satisfaction Guarantee but cannot return the device once the previous lease agreement has been canceled. For more details about Sprint's policy, visit sprint.com/returns.

Is the $5 per month early upgrade option available on phones purchased with a 2-year service agreement?

No. The $5 per month early upgrade option is only available on phones purchased through Sprint Monthly Installments or one of our 24 month term leasing options and payments for the option under your current plan would not transfer to this plan.

Lease information and changes

Where can I find details or a copy of my lease?

View a summary of your lease:

  1. Visit sprint.com/mysprint and sign in.
  2. Scroll to the device you are leasing and click See my contract details.

Download a copy of your full lease agreement:

  1. Visit sprint.com/mysprint and sign in.
  2. Scroll to the My Account section and click the View my documents button.
  3. Click the Device Financial Agreement link. A PDF copy of your agreement will open.

Can I change my lease payments or term?

The lease agreement cannot be changed. Please see the terms and conditions of your lease agreement.

Can I swap devices on my line?

Yes. You can activate a different device on your line. Keep in mind that the lease agreement is still in effect on your line and you will need to return or purchase the leased device at the end of your lease.

To complete a swap, go to sprint.com/activate or visit a Sprint store for assistance.

Can I swap devices on my account?

Yes. Devices can be moved to another line on the same account. Keep in mind that the lease agreement is still in effect on the original line and you will need to return or purchase the leased device at the end of your lease.

Can I swap devices between accounts?

To move devices between accounts, please visit a Sprint store or contact us to determine eligibility requirements and receive assistance.

Device protection and support

Can I enroll my leased device in a device protection program (e.g. Total Equipment Protection)?

Yes, you have the option to enroll in various device protection programs to protect, replace and repair your device. Enrollment is optional, but we strongly encourage it. If you are unprotected and your phone breaks during your lease, you will have to pay the remaining lease payments plus the device purchase option price set forth in the Lease Agreement.

What if I have a problem with my device?

Visit sprint.com/support for troubleshooting help, or visit a Sprint store to work with a rep.

What happens if my device is damaged or lost/stolen?

  1. If you have Total Equipment Protection:
  2. Tablet customers with Advanced Protection Pack should file a claim for any issue.
  3. If you don't have device protection:
    • You can choose to pay a Damaged Device Fee
      • The fee will vary based on the type and extent of damage, ranging up to the total original value of the device
    • You can keep the device and pay the Purchase Option amount shown in lease agreement
    • You can also visit a Sprint store, where a representative will evaluate your device and review your options

Returns, exchanges & end of lease

Does the Return and Exchange Policy apply to leased devices?

Customers who lease a device when activating a new line of service or when upgrading at the end of their lease term can try their new device for 14 days and return it if not completely satisfied with our Sprint Satisfaction Guarantee period. Customers who upgrade before the end of their lease agreement can also try out their new device for 14 days and exchange for a different device if not satisfied. For more details about Sprint's policy, visit sprint.com/returns.

Do I have to return the device at the end of the lease term?

At the end of your lease as a customer in good standing, here are your options:

  • Turn in the current leased device and upgrade to another device with your choice of purchase method (Lease, Monthly Installments, 2-year agreement, or full price purchase) or Bring-Your-Own Device.
  • Purchase the leased device for the Purchase Option Price listed in your Lease Agreement and own it.
  • Continue leasing the device on a month-to-month basis
    • Note: If you paid money down at signing, your month-to-month lease payment will increase starting at the end of the term to the amount you would have been required to pay per month if you had not paid money down at signing.

At the end of the lease, where do I return the leased device?

If you choose an end of lease option where the device must be returned, or you cancel service prior to lease end, please visit a Sprint store to complete the process and receive an account credit for the return. This will include a quick review to determine if the device is in good, working condition, and if any damage charges for excess wear will be assessed.

How can I own the device at the end of my lease?

Visit a Sprint store and ask to pay the Purchase Option Price (listed on your lease agreement) and it's all yours. Any remaining lease payments will continue until the end of your lease term.

What happens if I cancel my service prior to completing my lease term?

If you cancel service during your lease term, you are required to pay the remaining lease payments plus the Purchase Option Price listed in your Lease Agreement. If you return your device in good, working condition, the device purchase option price will be credited to your account.

What if I want to purchase my phone during the extended lease period (after lease term expires and you’re paying month-to-month)?

If you want to purchase your phone during an extended lease period, the price of the phone will be equal to the fair market value of the phone at the time you choose to purchase it. The fair market value of the phone is the same as Sprint’s Buyback Program price. Visit sprintbuyback.com and click “Eligible Devices” from the menu at the top of the page to learn more.

Loyalty Service Credit questions

What is the Loyalty Service Credit offer?

For a limited time, Sprint is awarding a recurring monthly Loyalty Service Credit to existing customers who upgrade or add a line via Sprint Lease, on a qualifying service plan. Customers will receive the service credit as long as they have an active lease on a qualifying service plan. The amount of the Loyalty Service Credit varies by Lease option or specific promotional offer.

When will I see the Loyalty Service Credit on my account?

You will see your service credit in 1 to 2 bill cycles and going forward for as long as you have an active lease with qualifying plan.

How is the Loyalty Service Credit displayed on my bill?

The credit will be listed as a separate line item on your bill. Example: If you have a $20 lease payment and a $10 Loyalty Service Credit, these will be two separate line items. The lease payment will show up in the Account Charges section of your invoice and the Loyalty Service Credit will show up under Adjustments.

What plans qualify to receive the Loyalty Service Credit through a lease?

Customers on Unlimited My Way, My All-in, Simply Everything and Everything Data (share) who lease a qualifying device through Sprint Lease will receive the Loyalty Service Credit.

Business customers on Business Essentials Messaging & Data, Business Advantage Messaging & Data, and Sprint Business Advantage Data Share who lease a qualifying device through Sprint Lease will receive the Loyalty Service Credit.

What happens if after leasing a phone under the promotion, I move away from my qualifying plan?

The offer no longer applies and you will no longer receive the Loyalty Service Credit.

After moving off your old plan, you will need to select from the price plans we offer at that time.

How many Loyalty Service Credits are allowed on my account?

All lines of service on your account on qualifying service plans with an active lease will be eligible for the Loyalty Service credit.

What happens to my Loyalty Service Credit at the end of my lease term?

As long as you have an active lease and remain on a qualifying plan, you will continue to receive your Loyalty Service Credit until your next device transaction.

Can I receive the Loyalty Service Credit on all lease terms?

All lines of service on your account on qualifying service plans with an active lease will be eligible for the Loyalty Service Credit.

Variable Payment Offers

What is Sprint launching?

Effective April 18, 2016, Sprint will offer new device financing and lease options in select channels to give customers more options to meet their financial needs. The additional options may impact the amount require to be paid upfront at contract signing, the amount of the monthly payments, the contract term, and the way Sprint determines the amount due in the event of early termination of the lease.

Does the down payment include activation fee, handset, monthly service, accessories OR handset only?

Any down payments or amounts due at signing would only be applied against the handset and would not apply to the activation fee, monthly service or accessories.

What if the capital cost reduction (CCR) for a lease or the down payment for the installment agreement is more than I am able to spend?

In some cases, you may be permitted to adjust the CCR or down payment, which may result in a longer contract term or a higher monthly payment. If you own a device, you may be able to trade it in and apply the value toward your CCR or down payment.

Where can I review the details of my Lease or Installment Agreement?

You can review your contract online after logging into My Account on sprint.com, and clicking on the My Documents tab.

Will I have to pay a rent charge or finance charge on Sprint's leases or installment agreements?

Depending on your credit worthiness, you may be required to pay a rent charge on your lease. Currently, Sprint installment agreements do not have a finance charge.

What is a rent charge?

Some of Sprint's leases carry a rent charge, which is based on an applicant's creditworthiness. A rent charge is an amount paid by the customer for the right to lease a device for a set time period. If a customer is charged a rent charge, a portion of each scheduled monthly lease payment includes a rent charge. Currently, Sprint installment agreements do not have a finance charge.

How much will I pay for my rent charge?

If you are required to pay a rent charge, your lease contract will show the total aggregate amount you will pay for the rent charge over the course of your lease term. You can review your contract by logging into My Account on www.sprint.com and clicking the My Documents tab.

Can I purchase my phone at the end of my lease?

Your lease contract may offer a purchase option, which will allow you to purchase your device at the end of your lease term. To determine if you have a purchase option, you can review your contract by logging into My Account on www.sprint.com and clicking the My Documents tab.

Is there a mobile app where I can track my Sprint bill, payments and due dates?

Yes, you can find all of this information in the Sprint Zone app.

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