Prepaid carriers Leap Wireless and MetroPCS are offering a financing program for its handsets. This new strategy is meant to be an enticing option for those who are strapped for cash and hate being locked into two-year contract agreements. The two prepaid company’s believe that their new approach to make buying devices easier will encourage more subscribers to make the jump to prepaid.
Leap, a carrier owned by Cricket Wireless, will now roll out its financing plan across stores nationwide. The way it works is purchases above $200 qualify for financing of up to 90-percent of the purchase price. Subscribers who choose to take advantage of this have 90 days to pay off the loan before fees and interest charges begin.
Unfortunately, MetroPCS didn’t reveal any specifics on its financing program but it’s said to be similar to the one Leap Wireless just pushed out to the masses. Both Leap and MetroPCS won’t require a contract or credit check for its services — potential customers need an active bank account instead.
As T-Mobile refocuses its attention on the prepaid market with no subsidies for handsets, tailored for its Value Plans, the rest of the non-contract carriers gear up for their own alternatives.
[via Android Central]