I was wondering if anyone here leases their smartphone either via ThinkSmart through the Carphone Warehouse or similar?
I initially took out a lease through the Carphone Warehouse because I usually sell my phone every 12 months and put the proceeds towards the latest model.
For me the pro of leasing is that I don’t need to make sure my phone is in pristine condition and can upgrade after 12 months on the condition I take out a new 24-month contract and pay an admin fee of £50
I have just found out that in order to upgrade, I have to pay a £400 to settle the lease first and I have to return the phone back to the Carphone Warehouse. For me giving the phone back is a huge blow, since I would expect that if I settled the lease I would then get to keep the phone use this as a trade in towards the latest model.
This all sounds like a bit of a con to me. Has anyone been in a similar situation?