T-Mobile Offering iPhone 5 with LTE up to 64GB for Preorder – No Contract
It’s official, T-Mobile is selling the iPhone 5’s on their page. T-Mobile began this morning by putting up the pricing for their no-contract, “Un-Carrier” plans, offering the iPhone 5’s starting at $99.99 for the 16GB model + $20 a month EIP (Equipment Installment Plan).
That part may seem confusing – but here’s the simplified version: T-Mobile corporate no longer has contracts on cell phone plans. You are still on a postpaid account, meaning you are billed for the month behind with all the usual state taxes, but your phone costs are not subsidized by the carrier. You have three options, you can bring your own device and get the cheap rate plan, you can buy a device there outright and get the cheap rate plan, or you can pay your device off in installments – or finance the device with no interest.
The current cost of the iPhone 5 16GB model, for instance, is $579.99. This works out to a $99.99 down payment and 24 months (2 years) at $20 a month. You can upgrade your phone at any time, just as easy as you can leave the carrier – just pay the current device off.
Would you be willing to drop your contract and switch to T-Mobile for the iPhone? Let us know in the comments below!