Are you pining for a particular ZTE phone but don’t have the funds? The company feels your pain, and has introduced a new leasing program that will let customers pay for it over time — make all the payments, and then it’s yours forever. The program is being launched in the United States, and appears to be an effort to compete with the monthly payment plans that several carriers have introduced.
ZTE is a big player in the US’s no-contract market, but the lack of contracts means you have few options aside from paying the full price for one of its devices. Under a new payment plan through SmartPay Leasing, ZTE is offering its devices as lease-to-own ware. The program applies to unlocked devices.
Those who want a device will get an immediate determination about whether they’re approved. The specifics on what it takes to get approved aren’t provided, but ZTE makes it sound like the leasing options will be open to many, maybe even most, interested parties, saying specifically that it has “leasing options for credit scores of all types.”
Those who have one of the ZTE phones on a lease, assuming it doesn’t have any due payments, can turn it in to get the lease cancelled and a new one started — a way to upgrade to a new device. Different plans will be offered based on qualifications. The new leasing program will be arriving “soon” via ZTE’s USA website.