T-Mobile continues to blaze across the wireless spectrum. The un-carrier, noted for their new contract-less offerings, has had phones and tablets on an in-house financing program called “equipment installment plans”. After shedding the traditional wireless subsidy model, the company began offering qualified customers the ability to make a monthly payment on their device. After the monthly payments the device was theirs to keep and they could even take it to another carrier.
The equipment installment plans are different from subsidies because they function more like in-house financing than the model for mobile phone purchasing that had been around for the previous 15 years.
With the equipment installment plan, like just about any finance program for a product, customers can choose to pay off the device early, and avoid any additional charges. Once that device is paid off the customer can easily upgrade to another device.
Now, Technobufflao reports that on Wednesday T-Mobile announced that customers can use the equipment installment plans to purchase accessories, a move that only T-Mobile is doing.
It makes complete sense to start offering accessories on the same plan because accessories often carry the most margin in a wireless retail setting. Accessories can either be purchased through the equipment installment plan as “add-ons” when the customer purchased their phone or tablet. Or, if the accessory costs over $69 and the customer has an established account with T-Mobile, they can finance that accessory for up to 24 months.
Technobuffalo reported that the LG Tone Pro headset would cost a T-Mobile customer $2.91 a month for 24 months, with $0 down.