Currently, in my account devices are listed as first I need to pay down payment and then 24 months payment, but in 24 months bill payment it is showing 0.0/month after some credit amount. So, in this scenario what will be the final pricing of the phone? I am attaching a photo of it.
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Welcome to the community!
It's a common misconception that the monthly cost of those phones are reduced. However, that is technically not the case. The monthly 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. From your example, customers would receive a $35.50 credit per month which calculates to $0 per month.
It is important to note that the actual cost of the phone would not be $1008.
Total cost of device: Down payment ($1008)+ Monthly credit ($35.50 x 24 = $852) = $1860
While the total amount you pay over 24 months is $1008 (plus taxes), the significance of highlighting the monthly credit becomes apparent if you end the contract early. If you choose to end the contract prematurely, you will be required to pay the total remaining balance of the device. That is, the remaining balance would not be $0 x remaining months, but rather $35.50 x remaining months. The remaining monthly credits would no longer apply.
Aside: The website currently shows a different financing option with no down payment. Howevver, the monthly cost x 24 months plus monthly credit x 24 months still equals the same total cost ($1860).
Hope this helps 😀