Buying or leasing a phone - pros and cons


Active Member
I wondered what people's thoughts on these are. Buying a phone on a 24 month contract seems to be roughly the same price as buying the phone outright these days so I was looking at either buying outright or leasing (which seems to be a new thing for phones).

For example, if I buy the handset from Apple, I pay 24 x £33.29 = £798.96 on 0% APR and then the handset is mine. I can then continue to use it beyond 2 years (I tend to change phones every 2 or so years anyway) but have the hassle of selling it / trading it in and the depreciation of the handset.
If I lease the phone from a company called Raylo (who get very good reviews), I pay £27.99 x 24 = £671.76 and then can hand the phone back and upgrade or pay £179.99 and the phone is mine - total cost £851.99.
If I take the phone from Sky, I pay £28 x 24 and then 'swap' for a different phone (providing it's in good condition it pays off the remainder of the 36 month contract). If I choose to keep the phone for the last year, I pay a reduced rate of £19 x 12 so total cost is £900. This seems to be 'leasing' a phone too as you can 'swap' after a certain period.
Raylo provide a free phone case and screen protector with their phones which is a nice touch but I had not heard of them until a few weeks ago so feel a bit more comfortable using a company like Sky as they are better known, albeit the cost is more overall with them. I suppose the extra £52 or £100 you pay Raylo and Sky over the term to keep the phone is the perk of paying over a long term.

I wondered what people's views on buying or leasing and whether people have done any of these things / used these companies ? Thanks in advance


Senior Moderator
Is this not like asking whether to buy or instead lease a car and return to the lease company. Whether leasing is a good option depends on individual circumstances

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