What are the benefits of financing a phone?

[yusufw890]

Hello. I was thinking of buying a new phone today and since I always see those "get a phone for $0!!!" ads from Fido, I decided to look here first. I settled on getting the Samsung A71, which is listed as $710 ($816 with taxes), with $19.99 monthly fee for 24 months. On the checkout page however, it did not show monthly payments, it was a one time fee. Furthermore, I searched for this phone on various other online stores, and saw that the average price for an A71 phone is $600. What's the deal? What even is the point of this program?

[FidoSaad]

Hey there @yusufw890

The Fido Payment program will offer you a more flexible payment option. The financed portion of the devices + applicable taxes will be split over a 24 month period. That monthly charge will be added to your usual monthly fees for the services (plan, add-ons, etc.). This also means that after 24 months, you go back to paying your services only.

In terms of the Samsung A71, if the current price listed before tax comes up to $710, so your monthly financing amount will be $29.58. Separately, you will have the current bill credit promotion of $9.59+tx applied on your invoice, for a total of $19.99+tx if you add them up together. You can view more details on how it shows on your bill here.

Hope this helps

[yusufw890]

Hello @FidoSaad , thank you for the reply.

This does sound like a good deal if the payments end in 24 months. For some reason it was listed as a one time fee in the preview bill though.

I'm still a little confused on why it is listed at $710 here when it is $600 everywhere else I looked 😅.

[FidoKenny]

@yusufw890

The point of the financing is for you to not have to pay the full price of the device in on payment.

We are always reviewing the prices of our devices on our end to make sure that you get the best possible price. 

However, we can't control prices offered in other markets and stores.

For any updates on the prices, make sure to keep an eye on our phone list on Fido.ca.