T-Mobile is once again looking to upend the “hopelessly broken wireless industry” with the announcement of a brand new initiative designed to give customers the freedom to upgrade to a brand spanking new handset whenever they like, up to three times a year, with no waiting period or upgrade fees and in exchange for one low monthly phone payment.
The new service, dubbed JUMP! On Demand, was announced during T-Mobile’s Un-Carrier Amped event on Thursday.
Customers can trade in their existing phone for a select new device up to three times a year with no waiting period, in return for 18 monthly payments alongside the standard cost of a service plan. JUMP! On Demand launches in select stores beginning this Sunday, June 28.
Existing Jump customers can apply for the new plan the next time they upgrade.
“With Jump! On Demand, you make payments on your phone for 18 months. After 18 months, you can simply turn in your phone with nothing more to pay, or upgrade to your next new phone and start a new plan, or make a final payment and keep your phone,” explains the carrier.
In the case of Apple’s iPhone 6, customers are paying a lease of $15 plus taxes per month ($19 for the iPhone 6 Plus) via monthly bill credits. Again, you’ll first need to trade in your existing device, which must be returned in good condition.
If you don’t trade in an eligible smartphone, the iPhone 6 can be leased through JUMP! On Demand over a period of eighteen months, after which you can keep the leased device in exchange for $164.
The iPhone 6-specific pricing is valid for a limited time, the carrier has said. If you cancel wireless service, any remaining payments become due and you must return your leased device in working condition.
Here’s T-Mobile CEO John Legere discussing JUMP! On Demand.
“If you keep your phone and make the final payment, the total of your payments will equal the retail price of the phone,” said T-Mobile. “In addition, customers can pay off their JUMP! On Demand plan at any time by paying the remaining payments in advance, and keep their phone without penalty.”
The fine print:
- JUMP! On Demand is only available in participating stores in the U.S.
- The program begins Sunday, June 28.
- It’s a time-limited offer.
- Qualifying credit and service is required.
- You must trade-in an eligible device, which must be in good condition, at a participating T-Mobile store and upgrade to an eligible device on lease, up to three times per year.
- Only select smartphones are eligible for the promotion.
- iPhone 6 offer is subject to credit approval. Eligible paid-off smartphone trade-in, lease and qualifying service is required. The $15 per month lease available via monthly bill credits. You must remain on qualifying service in good standing for the duration of the 18-month lease. After 18 months you must return the device in good condition or exercise the purchase option.
- JUMP! On Demand is unavailable with Contract Freedom (device pay-off) or other trade-in offers.
The full list of available smartphones is available at t-mobile.com/jumpondemand.