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Following in Apple’s Footsteps, ZTE Takes Device Leasing Direct to Consumers

Today the company introduced a lease-to-own payment plan for customers in the United States, this will enable customers to pick up a new ZTE mobile device and spread out the payment over several months so that it’s much easier for them to pay what they owe on the device.

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To start, ZTE’s flagship phone, the Axon Pro, and its projector hotspot, the S Pro 2 Smart Projector, are available unlocked on the Lease-to-Own program. As an online offering, the installment payment plan encourages customers to order their devices directly from ZTE’s website rather than from wireless carrier partners, which include all the major wireless providers.

ZTE plans to make most of its devices available on the program, but a few phones will still remain unavailable in the States, even though they launched in China more than six months ago. After that, you’ll continue to make monthly payments for 6 to 24 months. Once all payments are made, the lease is complete and customers own the device. You can also pay off the lease early without penalty. “We also want the experience of purchasing and using a ZTE device to be easy for any consumer”, said Lixin Cheng, CEO and chairman of ZTE USA.

Leasing programs from OEMs and not from carriers could engender more brand loyalty for the device maker instead of carriers. “How customers want to pay versus the amount they are comfortable paying are equally important – and ZTE can provide the best of both worlds”. If you want to upgrade your device, you can cancel your lease, return it to SmartPay Leasing, and lease a newer device.

Are you pining for a particular ZTE phone but don’t have the funds? Because they are running a strictly lease-to-own program, these plans won’t be available to residents of New Jersey, Minnesota, Wisconsin, or Wyoming.

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Those who want a device will get an immediate determination about whether they’re approved. An early termination fee may be applied. Instead you can cancel your lease at the end of the term, or you can renew at a lower cost.

ZTE jumps on lease-to-own trend for phones