ZTE today announced a lease-to-own purchasing option for U.S. consumers.
The program is available for unlocked smartphones, such as the Axon Pro, and other ZTE gear. The lease-to-own option is supported by SmartPay Leasing, which will offer financing terms between 6 and 24 months. At the end of the term, customers who have made all their payments will own the device.
ZTE says customers can pay off their phones early, though some fees may apply, or trade their working device in for a new one. Leases can be cancelled at any time, though early termination fees may apply.
The lease-to-own option is available upon checkout when purchasing handsets from ZTEUSA.com. ZTE says customers will need to have a debit card to qualify, and pay between 0% and 25% of the phone’s cost in the initial payment. The program is not available in New Jersey, Minnesota, Wisconsin, or Wyoming.
The offering reflects recent changes across the industry. Most carriers offer monthly financing plans to help defray the cost of handsets. Apple launched its own financing plan with the arrival of the iPhone 6s last month.
