There are all types of smartphones out there, from entry-level ones to the ones with powerful hardware, best-in-line cameras, and more. When it comes to buying one, we go with the one that best fits our budget. But that could change soon. If you think flagship phones like the Apple iPhone X or Google Pixel 2 are way out of your budget, RentoMojo gives you an opportunity to actually rent one.
The startup that allows you lease furniture, bikes and home appliances has now started a new service that lets you rent a high-end smartphone. “Consumers can now subscribe to or obtain smartphones on lease, through our RMI (Rental Monthly Instalments) system, as opposed to purchasing and owning,” Geetansh Bamania, founder and CEO RentoMojo said.
At the time of filing this story, there are three smartphones listed on the website – Google Pixel 2, Apple iPhone 8, and Apple iPhone X. You can lease a smartphone for a period of six months, 12 months, 18 months or 24 months, with monthly rentals starting as low as Rs 2,099.
Watch: Apple iPhone X Review
Apple iPhone X
The iPhone X is the most expensive smartphone available in the Indian smartphone market, with the 64GB variant costing Rs 89,999. To rent one, you will have to make a down payment of Rs 9,998, followed by a monthly rental of Rs 9,299 for six months. In case you want it for a longer period, you will have to pay Rs 4,999 monthly for 12 months, Rs 4,499 monthly for 18 months, or Rs 4,299 monthly for 24 months.
Apple iPhone 8
The iPhone 8 64GB variant is priced at Rs 62,999, but with RentoMojo, you can get it for as low as Rs 3,967 per month. To begin with, you will have to make a down payment of Rs 8,798. You will then have to pay Rs 7,399 for six months, Rs 4,399 for 12 months, Rs 4,085 for 18 months or Rs 3,967 for 24 months.
Google Pixel 2
The Google Pixel 2 (128GB) is priced at Rs 53,999, but if you want to rent it, you can make a refundable deposit of Rs 5,398, which is close to 10 percent the value of the phone. After the down payment, you can choose to rent it for a minimum of six months, with monthly rental of Rs 3,899. For 12 months you pay Rs 2,699, for 18 months you pay Rs 2,299 per month, and for 24 months, you’ll end up paying Rs 2,299 per month.
Now, it may look a little expensive but if we look at the current scenario, most people change their phones every two years. Considering this, you pay Rs 5,398 as down payment, and Rs 2,299 per month for 24 months, which corresponds to Rs 55,176. And if you calculate the overall amount with down payment, it goes over Rs 60,000. Owning a phone is definitely cheaper, but if you cannot afford one, getting one on rent could be a good solution.