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?
I’d look at it more as a reverse trade-in program. Basically TELUS is giving the amount they expect the phone to be worth at the end of your contract if did trade it in up front, although at the end of your term if did find the trade-in value was more through the actual trade-in program you are free to pay back the Bring it Back amount and go with that instead.
Savings depend on the device as there are a few devices that have a bonus top up amount that as long as keep the device the entire two years you do not need to pay back just like the old subsidized device model. Take for example the Motorola Razr and currently the Bring it Back amount is $90 with a $590 top up, so at the end of the two years even if decided you didn’t want to return the device and paid back the $90 BiB amount you would still be saving $590 on the device vs not opting for the program at the start.
To balance the points in the other post, think of it as lease to own. You can pay perpetual fees as long as you desire, or you can pay an end of term cost and own the device. The lease part is your obligations on the phone during the term. I believe you have to take care of it and return it in good working order, so smashing it up would be a bit more problematic.