Hello Faez2,
Welcome to the community!
Firstly, you should note that the monthly cost of those phones are not reduced. 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 $83.34 and bill credit of $73.35 calculates to $9.99 per month (plus taxes). However, the monthly financing fee does not actually change. For example, if you choose to end the contract early, you would be required to pay the remaining balance of the device ($83.34 x remaining months). The unused bill credits would not apply and no longer continue on your account.
With Fido's new financed Payment Program, the phone is yours to keep once the contract has been fulfilled. Upon completion, you will no longer have a monthly financing fee. In addition, you will also no longer receive the monthly financing credit. You would just have your monthly service fees.
I understand the deal might seem too good to be true. However, for whatever reason, that particular device appears to be on clearance. That could be the reason why the bill credit value is so much. You should note that since the device is on clearance, there may be limited quantities available.
If you make the purchase online, the Setup Service Fee ($45) should be waived. However, if you make the purchase with the assistance of customer service, you would likely incur the setup fee.
Hope this helps 😀
Cheers
Hello again,
You would also be required to pay the monthly service fee in addition to the monthly financing fee.
Hope this helps 😀
Cheers
