T-Mobile made a couple of big announcements today, including the expansion of its 36-month Equipment Installment Plan.
Starting this Friday, October 19th, T-Mobile is kicking off a new deal to help you get a new flagship smartphone for as low as $10 per month. The deal applies to phones like the Galaxy Note 9, Galaxy S9, Galaxy S8, LG V40, LG G7, iPhone XS, iPhone XS Max, and iPhone XR.
To get this deal, you'll need to trade in an eligible device. You'll get either $360, $250, or $150 of 36 monthly bill credits depending on the device you trade in. The devices that are eligible for trade-in include:
T-Mobile touts that with this deal, a family of four can sign up for the T-Mobile Essentials plan and get a new device for $40 per month per line with autopay. Stepping up to the T-Mobile One plan with this promotion will cost $50 per month per line for a family of four with autopay.
Along with this promotion, T-Mobile is expanding its 36-month Equipment Installment Plan (EIP) this Friday. T-Mo's EIP typically spreads payments out over 24 months, but this new 36-month option will be available for more expensive devices to help lower costs. For example, the LG V40 ThinQ will be available for $0 down and $25.56 per month for 36 months, while the iPhone XR will be offered for $0 down and $20.84 per month for 36 months.
T-Mobile's 36-month EIP option won't appeal to everyone, like those folks who like to upgrade to the newest flagship every year or more. But now that flagship smartphones are regularly priced at $1,000 or more, a 36-month payment option can help to get this high-end devices into the hands of more people by offering a lower monthly payment.
