The trend of buying mobile phones in installment plans seems to be on the rise in the U.S. and other countries as well. A recent study conducted by Kantar WorldPanel ComTech found that almost half the smart phones sold in the United States during June, July and August were on installment basis. The trend seems to be equally popular among iPhone and Android users.
Another interesting trend on the rise is the use of prepaid phones compared to the traditional postpaid plans. And this is so among all income groups. So, why do consumers prefer to buy prepaid phones on installment basis? There can be a number of reasons for this, ranging from privacy to flexibility to easy financing. Let’s have a look at some of the major ones:
1. Flexibility and Convenience
Consumers do not seem to be comfortable with the idea of getting tied to one service provider. Similarly, most of the mobile phone users love to upgrade their devices to the latest models available in the market. Going for a prepaid phone on installment basis gives them a good amount of flexibility to purchase a phone of their choice. You can switch your mobile career without having to pay hefty termination fees.
2. Bad Credit Not a Big Deal
Buy Now Pay Later Prepaid Phones are a boon for people with bad credit or no credit history at all. You get to enjoy the freedom of prepaid phones and high quality instruments sans all those hassles of signing expensive contracts. It gives you a perfect opportunity to test your model and service provider real time before committing yourself long term.
3. Privacy and Business Use
Prepaid phones offer better privacy compared to their postpaid counterparts. Many people prefer to use one prepaid phone dedicatedly for one purpose only. For example, you may choose to use one phone for family, another for dating and yet another one for business. Thus, you need not download all the apps on a single phone, jeopardizing your privacy. It also saves you from telemarketing and other annoying phone calls to a great extent. The prepaid route offers a budget-friendly way to own multiple phones.
4. Buying Phones for Children
People also prefer to buy prepaid phones for their children since it allows them to monitor the talktime and the extent of use. It saves them from surprise charges. They can reload the minutes as they go. Children also learn the discipline of using mobile phones judiciously as they would strive to save the talktime till the minutes recharge date.
The process for getting a buy now pay later unlocked cell phones is simple. You just need to visit an online store and choose a brand you like. In order to apply, you must be at least 18 years old and possess a valid debit or credit card. Vendors usually ask you to submit your social security number and a copy of your driver’s license or passport.