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I'm curious about Bring-It-Back, and I've read all of the details. Isn't it really just a lease program? Do I literally own the phone, or does TELUS own it until my two years are over? I know it is semantics, but I wonder how this compares to non Bring-It-Back phone purchases.
i) TELUS gives me a lower upfront price
ii) I choose - in 24 mo. - if I want to give it back, or pay the amount I saved upfront
iii) Technically I don't save anything upfront in this scenario, rather I defer payment
iv) I only "save" because I didn't need to pay in month one, or
v) I save if I give the phone back, and get into another phone without paying upfront, etc.
Am I getting this right? I know it is an option, but it seems less advantageous than offers before where my savings were my savings. Any different POVs to help me understand?
And if it is a lease, does anyone feel uncomfortable with that notion?
It's not like a lease at all. You own the phone and there is no part of your monthly payment that goes towards interest.
It's more like a trade in program where they loan you the trade in value up front. If you don't trade in your phone at the end of your term you have to repay the loan.
The original post was copied and pasted from https://forum.telus.com/t5/Mobility-Devices/Is-Bring-It-Back-basically-a-lease-program/m-p/108501.
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