ZTE, the China-based OEM who does not hold too much of a marketing presence in the American market, announced a lease-to-own program for new smart device buyers this week. This program allows buyers of a ZTE device to pay for it over time, making devices more affordable.
This program is usable on devices such as the Spro 2 Smart Projector and Axon Pro. Naturally, usage of this program will rely somewhat on credit score, and ZTE has implemented SmartPay, a way for wishful ZTE owners to receive immediate approval for the lease.
According to the the press release, “If approved, simply select the ZTE device you want, make your first payment at checkout and make scheduled monthly payments thereafter.”
If you would like to upgrade, and your lease is up-to-date on payments, simply return the device to SmartPay in good working order, which will cancel the lease. Then, go ahead and select a new device.
When signing up, the devices are purchased at the off-contract pricing, and will be available on ZTE’s US website “soon.”
ZTE Introduces New Lease-to-Own Option for Smartphones and Mobile Devices
ZTE customers can now get a mobile device and pay for it over time
Richardson, Texas – October 14, 2015 – ZTE USA, the fourth largest smartphone supplier in the U.S. and second largest in the no-contract market*, today introduced a lease-to-own payment plan for customers who want to pay for their phone or other mobile device over time and spread out their payments to make it more affordable. This lease-to-own payment option is provided through SmartPay ™ Leasing Inc. and will be available online for all customers beginning soon at www.zteusa.com.
Lease-to-own is available for unlocked devices such as the recently launched Axon Pro and other mobile devices such as the ZTE Spro 2 Smart Projector.
“We are introducing leasing options because we believe advanced mobile technology should be available to everyone. 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. “How customers want to pay versus the amount they are comfortable paying are equally important – and ZTE can provide the best of both worlds.”
Leasing options for credit scores of all types
With SmartPay, you can get an immediate approval to lease ZTE devices. If approved, simply select the ZTE device you want, make your first payment at checkout and make scheduled monthly payments thereafter**.
No long-term contracts
The length of a lease plan is determined when you apply and can range from 6 to 24 months. Once all payments are made, the lease is complete and you own the device. You can also pay off your lease early without any penalties or future fees***.
Upgrade your phone when ready
If you’re up-to-date on your monthly payments you can cancel your lease at any time and upgrade your device by simply returning your current device in good working order to SmartPay. Once your phone is received your lease is cancelled and you’re free to get the new device you want.
*Strategy Analytics, North America Handset Vendor Market Share, Q2 2015
**$0 to 25% of your lease amount could be due when you complete checkout, a debit card is required.
***BuyOut Fees from 3.5% to 20% may apply depending on the lease-to-own payment plan you qualified for. This option is not available in NJ, MN, WI, and WY. Customers in NJ, MN, WI, and WY are offered a 12 month lease plan which renews annually. Your lease plan may be cancelled at any time. An early termination fee may be applied. You cannot own leased items in NJ, MN, WI, and WY. Instead you can cancel your lease at the end of the term, or you can renew at a lower cost.