Hi I am planning on getting a Samsung S21 ultra. As I checked Fido, there is this program with monthly credit bill. I attached a picture. Could please explain further the bill with the taxes and how much is the real amount that would be billed monthly with taxes and all. And I believe this comes locked with Fido sim only. Thank you.
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Welcome to the community!
Firstly, what plan type do you have? You should note that Fido switched from their subsidised plans to a financed Payment Program. With the old subsidised plans, the cost of devices was incorporated into the plan costs (ie Large, Medium, etc). On the other hand, with the new model, the cost of devices is separate from the plan costs. You should also note that some of the old plan types are not compatible with the new financed model so you might need to switch to a new plan in order to get a new phone. In addition, you should also note that any bonus data you might have received may not be compatible with new plans.
From the screen capture you posted, it appears that you're referring to the 512GB version of that device. It's a common misconception that the monthly cost of those phones are reduced. However, that is technically not the case. The device cost shown on the website was calcuated after bill credit. The monthly cost of the phone remains the same but customers are getting a credit on their bill to offset the cost of the phone.
The bill credit is applied to the account and does not directly affect the actual monthly financing cost. In your case, the original monthly financing fee of $51.89 and bill credit of $18.55 calculates to $33.34 per month. However, the monthly financing fee does not actually change.
So the monthly financing for the phone will be $51.89 plus taxes per month. In addition, the bill would include $1089.80 plus taxes for the downpayment. On your bill, there would also be your monthly plan charges plus a credit of $18.55. You would also be required to pay taxes on that subtotal.
Hope this helps 😀