Deal DetailsLast Edited by sunnybyday June 25, 2015 at 08:34 AM
Worth noting however that while the standard Jump program carries a $10 fee in addition to the phone payments, it also includes handset insurance in that cost. Jump On Demand customers, if they prefer, will have to purchase insurance for an additional $8 per month. Decoupling is intelligent and seems fair as not everybody wants phone insurance. T-Mobile says that Jump On Demand will be available for a limited selection of new smartphones, while the original Jump program is available for a broader array of devices. TMobile has some nice promotional prices as well - it will only cost $15 per month fee for the 16GB iPhone 6 when you trade in another smartphone at launch (same as standard payment plan now). TMobile claims that a customer on the new Jump program could upgrade six times in the same timeframe that Verizon allows one upgrade!
Everything you need to know about T-Mobile's new JUMP! on Demand lease program
T-Mobile's JUMP! on Demand program is essentially a lease program. You sign an 18 month lease agreement for a phone. The price you pay monthly depends on which phone you choose. At any point during your 18 months you can upgrade your phone for another one. In fact, you can get up to three new phones within a year. Each time you upgrade your phone the 18-month term starts again.
At the end of your 18 month term you can either return the device or start a brand new lease. If you do return the phone you need to ensure that it's in good working order. Staff in stores will be trained to perform a three-point inspection. Phones that don't meet certain standards, or show signs of damage will be subject to damage fees (detailed below).
Unlike previous versions of JUMP!, handset insurance isn't included within the price of the program. So, if you're a little clumsy or have been known to drop or break phones in the past, it might be worth considering T-Mobile's Premium Handset Insurance (PHP).
Available Phones and Special iPhone promotion
From launch, only a handful of phones will be available on the JUMP! on Demand program. Those are:
iPhone 6 Plus
Samsung Galaxy S6
Samsung Galaxy S6 Edge
Samsung Galaxy Note 4
At launch, T-Mobile is also going to be offering a special deal on the iPhone 6 and iPhone 6 Plus. Customers who trade-in a smartphone and sign up for JUMP! on Demand with a new iPhone (any storage capacity) can get $12 monthly bill credit. This reduces the standard monthly lease payment to $15 or $19 per month, respectively, for the 16GB iPhone 6 and 6 Plus models. Bill credits will show on your bill under the "Credits and Adjustments" section as "iPhone 6 promo credit". This credit continues for the entire 18 month lease period – giving you a total of $216 in credit – as long as you don't switch or JUMP! to a new device.
If your current phone's trade-in value happens to be worth more than the $216 offered in this promotion, T-Mobile will refund the difference as a one-time credit on your bill.
Whenever you return a leased device – whether it's at the end of your term or to upgrade – T-Mobile staff will check it for damage. They look for three key things: Cracked Screens, Liquid Damage and whether the phone powers on. If your leased phone fails to pass these three criteria, you'll be fined. Each of the three criteria carries a fine of $250.
Cracked Screen Damage fee – $250
Liquid Damage fee – $250
Device does not power on fee – $250
In the terms given to staff it states the following: "If there is damage(s) to the leased device, customers will be responsible for the SUM of the assessed damage fees."
If you decide to pay the damage fees when you return the device, you don't get to keep the device even if what you pay exceeds the Purchase Option Price (detailed below). So, if it's going to cost you more to return it, it's worth considering paying to own the damaged device.
Can Existing Customers upgrade?
Short answer is yes. Even if you're not on a current JUMP! plan, you can upgrade and sign up to the new JUMP! on Demand program. However, it's worth noting that you're still subject to the terms of your EIP agreement. In other words, you'll have to pay off any remaining EIP balance before signing up to the lease deal.
If you're on a JUMP! plan, you're subject to those terms still. For those on the first generation JUMP!, that means you'll need to have had your most recent phone for at least 6 months. For those on the 2nd generation JUMP!, you can upgrade whenever you like as long as you've paid at least 50% of your EIP balance.
Credit Classes, Down Payments and Purchase Option Prices
T-Mobile sold this whole move as being able to sign up to a lease and get a new phone without paying anything at all up front. Not even sales tax. But that only applies – as usual – to those with good credit who T-Mobile regards as "well-qualified". Remember, for T-Mo that now includes anyone who has successfully made 12 consecutive monthly payments. If you're a long-serving customers with reliable payment history, you'll be just fine.
Along with its snazzy new lease program, T-Mobile's also started using some snazzy new legal lingo. There are two you should get familiar with: Capital Cost Reduction and Puchase Option Price.
Capital Cost Reduction is essentially the down payment, or security deposit, that customers will need to pay if they don't fall in to the "well-qualified" credit classes. For the well-qualified, that figure is $0, just as John Legere said. For less qualified customers the Capital Cost Reduction (or down payment) will vary depending on how much the smartphone is worth. If you have a $700 handset, the down payment will be $200. But for those who do make down payments, monthly lease payments will be lower.
Keeping the example of the $700 handset, your total lease amount = (Full Retail Price – Purchase Option Price – Capital Cost Reduction) x Tax. On this particular $700 phone, your purchase option price is $250, the capital cost reduction for less-qualified customers is $200 which means the total lease amount is just $273.75. That's $15.21 over the first 17 months and $15.18 for the last installment. Of course, this is an example only. Actually prices/amounts will change depending on which phone you want.
If you're well-qualified and don't pay anything up front, you're monthly lease payments are higher to cover that $200 deficit. That's roughly $11 per month more. In the end, everyone pays the same amount.
Purchase Option Price is the term used for the figure you'll need to pay (plus your lease payments and any possible deposit) to own the device. Sticking with the example above, we'll assume you're at the end of your 18 months and that you've paid your monthly lease payments every month, as well as your initial $200 deposit. All you have to pay to make the device yours is $250 (plus taxes). If you want to do it before the end of the 18 months, you pay your Purchase Option Price plus any remaining lease payments. Once you've done that, T-Mobile will send you an ownership certificate on your next month's bill.
Can I upgrade to anything I want?
Not exactly. As I've already listed, there are only certain devices included in the lease program to begin with. Customers who excercise their right to upgrade do have to change to a different model of phone, or at least, change to one with a higher storage capacity. That means you can't just change from a white 32GB iPhone 6 to a black 32GB iPhone 6 just because you fancy a different color. If you have a 16GB iPhone 6, you can switch to a 32GB iPhone 6 though.
Can I end the lease when I like?
Pretty much, yes. T-Mobile notes in its communication to staff that "customers have the option to terminate their lease and return the device at any time during their lease term." If you get to the end of your 18 month, the same applies – you still need to return the device since the phone remains T-Mobile's property throughout the term of the lease.
T-Mobile notes that: "If customers terminate the lease early, they must pay T-Mobile an early termination amount which is the sum of the following: Any past due payments or other unpaid amounts due under this lease, plus the remaining unpaid scheduled lease payments for the remaining items, plus any excess wear and use charges, plus any additional fees or taxes related to the payment of these amounts."
Where can I get it?
Short answer – In store only. Leases can only be initiated in Retail/Branded locations. What's more, they can't be applied to Ship-To direct fulfillment orders. It'll be available from June 28th.
[B]PDF FILE with Details.
How it works
JUMP! On Demand is only available through our stores, so you'll need to get yourself to a T-Mobile retail location to take part.
When you sign up, you enter into an 18-month agreement, which gives you the option to upgrade to a new device, up to 3 times, in a rolling 12-month period.
There are no up-front costs (if you're a well-qualified customer).
Your monthly payments, and the total amount you pay during the entire lease agreement, will depend on your credit approval, the device and plan you choose, and any taxes and government fees.
Any device leased through JUMP! On Demand is owned by T-Mobile.
If you're currently on an Equipment Installment Plan (EIP)
If you want to trade in your current device and you're currently making EIP payments on it, you can still make the switch to JUMP! On Demand. To do so, we'll first need to see how much of a trade-in credit you'll get for your device. If there's a balance still owed after the credit is applied, just pay off the remainder before signing up for JUMP! On Demand
Choosing a device
You can upgrade up to 3 times in a rolling 12-month period. As much as we'd like to have JUMP! On Demand available to all devices, the ones listed below are the only ones currently offered for this program. But, check back often! The selection of devices may change from time to time.
We're currently offering the following select devices:
iPhone 6 Plus
Samsung Galaxy S6
Samsung Galaxy S6 edge
Samsung Galaxy Note 4
Upgrading or purchasing a device
During your active lease, you have several options:
You can upgrade to a new device, up to 3 times in a rolling 12-month period. The upgrade must be to a different model or memory size. Visit one of our retail locations to upgrade today.
You can end your lease early and purchase the leased device at any time for the amount specified in your lease agreement. You must make remaining lease payments and pay the final purchase amount. To do this, contact T-Mobile customer service or visit one of our retail locations.
If you want to end your lease early and return your device, you must make remaining lease payments and return your device in good condition.
If your lease is ending, you have 3 options:
Upgrade to a new eligible device.
Purchase the device for the amount specified in your lease agreement.
Turn in the leased device in good condition at a T-Mobile retail location.
End of lease or cancelling your lease
Whether your lease agreement goes through its full 18 months, or if you want to end your lease early, you'll need to visit a T-Mobile retail location to complete the process.
Keep in mind:
If your lease is ending, the leased device must be returned in good condition at the store.
If you decide to cancel your lease, any remaining lease payments will be due at the store when you turn in the device.
If you return a device to T-Mobile that exhibits excess wear and use, you'll be charged for that item. Excess wear and use is beyond the minor wear reasonably expected to result from ordinary, everyday use, such as a cracked or otherwise damaged display; damage caused by exposure to liquid; failure to properly power on; material alterations to its hardware or software; or failure to remove or disable any anti-theft or similar features from an item, such as Find My iPhone.
Handset protection: Premium Handset Protection (PHP) is NOT included with JUMP! On Demand, but we recommend you add PHP (or another insurance) within 14 days of signing up. Connecticut customers are required to obtain handset insurance.
Things you should know
Here are a few more things to consider when taking part in JUMP! On Demand. The following are NOT eligible for the JUMP! On Demand program:
Pay in Advance (Prepaid) plans.
If you have a Simple Choice with No Credit Check (SCNC) plan.
If you have an open Extended Payment Schedule (EPS).
If you have a foreign billing address, including Puerto Rico, as well as military addresses outside the US (such as APOs, FPOs, APs, etc.).
18 months locked in service with Tmobile (another form of contract) ,
Assume that you start the jump on demand program with iPhone 6 deal and you make no upgrading for 9 months, and then you want to switch a carrier in middle of lease contract (at 9 months),
then you need to return the iphone with good condition as defined above and then pay the
27*9 = 243 to tmobile to end the lease. it is not 15*9 =135, since you are not receiving the credits for next 9 months.
You want get the iphone 6 now and did an upgrade next three month to get iphone 6s, and then you want to switch a carrier in middle of lease contract (at 6th months),
then you need to return the iphone with good condition as defined above and then pay the amount of below to tmobile
27* 12 = ))))) to Tmbile
You get the iPhone 6 now and if you want to upgrade to iPhone 6s on November, you will lose the payment (15 per month) between now to November, and you will lose your $12 credit too, which mean you are pretty much paying 27 with 6s every month after November. This $12 credit is promotion. Keep in mind that ATT, Verizon are all giving 100-200 discount on iPhone 6 now. I am pretty sure 12 credit won't be available when 6s come out as new phone is always at full price and no new discount.
TMO's way of enforcing 18 month locked-in service agreement after every upgradent.
ALL THE CARRIERS ARE SMART, TMOBILE IS SMARTER