Stay alert! The hidden dangers in the rental phone market. Someone was forced to spend tens of thousands of yuan.

Remain Vigilant The Unseen Hazards of the Phone Rental Market Leading to Costly Consequences

【Mobile China News】The selling price of Apple phones often reaches thousands or even tens of thousands of yuan, making it difficult for many consumers to afford. As a result, some people choose to lease phones instead. However, on December 8th, Mobile China noticed that the phone leasing market hides a big trap – some people are forced to spend tens of thousands of yuan to purchase an old model.

According to the “Workers’ Daily” report, recently, a consumer named Zhang Jie in Beijing complained that they fell into the trap of “lease-to-purchase” for phones. Zhang Jie bought an Apple 14 Plus (256GB) phone on a leasing platform, paying in installments for 12 months at 492 yuan per period. They have already paid off 7 periods. Due to personal negligence, they failed to make the payment on time last month and are now being forced to buy out the phone. The buyout amount is 7,101 yuan. The total amount, including the 7 periods already paid and the buyout amount, reaches 10,545 yuan.

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“This price is far beyond the market price of this phone.” Zhang Jie said. “Lease-to-purchase” for phones is a new leasing model that has emerged in recent years. The platform claims that this model not only allows consumers to quickly own a phone but is also more attractive than a one-time purchase. Users only need to pay a small fee each month to have the latest or higher-end phones. Users can also purchase the phone after the lease term ends without paying a one-time high purchase cost. Although the phone leasing model introduced by the platform seems very good, in reality, most platforms default to a lease term of 1 year or more, and early termination is not allowed. If payment is overdue, the phone will be bought out, and if payment is not made, there is a risk of being sued. It’s a vicious cycle, and if you’re not careful, you could end up like the consumer who was forced to spend tens of thousands of yuan to buy an iPhone 14 Plus as mentioned above, becoming a lamb waiting to be slaughtered.

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