Forum Discussion
Why cant i trade in my paid JOD device towards a new device?
So i recently just paid off my lease for my samsung s21 ultra and i was looking to trade it towards a new phone. But every time i tried to upgrade, it tell me that i cant trade in my phone since it i...
TL;DR: If you pay the purchase option price all at once, then you have to wait 64 days from the end of the lease for it to be eligible as an upgrade. If you finance the purchase option price over 9 months, then the device is eligible as soon as the final payment is made.
Jump! on Demand is a very interesting finance option because it has many benefits, but it also has some fine print that can get confusing. Most people like JOD because they can get a device for $0 down most of the time, the monthly payments can be a bit lower, and they can upgrade the device easily every 30 days if they want to. The fact that it is a lease is where things get a little weird. If you do get to the end of the lease and want to keep the phone, technically you have 60-64 days to decide if you want to make the lump sum payment or over the 9 months. If you do the lump sum payment, you would think that you could trade the device in right away, but there are ways for you to change your mind and reverse the payment and set up the 9 month payment plan. That buffer period is the reason for the requirement for customers to wait 64 days for the device to be eligible for trade in.
fireguy_6364 wrote:lilromeoloc wrote:gramps28 wrote:Then the phone is yours and you can’t use it to Jump. You should be able to trade it in on a phone but not through Jump.
EXACTLY!!!!! That is the point im trying to make. Im trying to use the phone as a trade in towards a new phone but they said that i cant because it is a lease phone…. EVEN THOUGH I PAID IT OFF… thats why im trying to get clarification or thoughts from the community
that would be the issue then. lease=once said lease is done you are still technically making payments on it..well renting it i guess is a better way to say it..unless you paid whatever amount they asked to purchase it outright..if not then technically you are still renting it..same as if you leased a car..you keep making payments..at the end you either turn the car in and get another lease or you get the option to purchase it..which THEN you could use it as a trade in.
I paid the purchase amount.
