text: Leasing as a business concept is nothing new, but it’s not terribly common in the consumer mobile phone market, with only Telstra opening up leasing via its Go Mobile Swap plans. Optus has announced that it’s entering the phone leasing market for both consumer and business customers via its My Plan Flex plans.
  Under the contract terms of My Plan Flex, you sign up for a 24 month contract term, but after 12 months, you’ve got the option to upgrade to a new handset for a fixed $99 service fee. That presumes that your phone is in fine working order when it comes time to upgrade. If there is damage present with what Optus calls an "easy fix" to hand, such as a cracked screen, a damage fee of up to $229 will apply. If the damage is more serious by Optus’ assessment, damage fees of up to $499 will apply in order to upgrade.
  Either way, it’s a leased phone, which means that at the end of the 24 month contract it’s still technically Optus’ property. Customers will have the option at the end of the contract plan term to purchase the device at fair market value. You can alternatively opt to continue to lease the phone for a further six months, at which point you must either buy it outright or return it.
  Optus is only offering four different phone models under the My Plan Flex provisions at launch, in the form of the iPhone 7, iPhone 7 Plus, Samsung Galaxy S8 or Samsung Galaxy S8+. This does include the PRODUCT(RED) variant of the iPhone 7 which Optus has recently added to its contract handset mix.
  The typical monthly contract saving on the My Plan Flex plans is $10 per month over the total contract cost, although for some plan tiers that dips downwards. As an example, here’s what you’d pay for a 32GB iPhone 7 via the regular My Plan Plus and the My Plan Flex contract tiers at the time of writing.
  Optus Plan comparison
  iPhone 7 32GB My Plan Plus Monthly My Plan Flex Monthly Saving 24 Month contract difference
  $40 Plan $76 $66 $10 $240
  $65 Plan $89 $79 $10 $240
  $85 Plan $94 $85 $9 $216
  $100 Plan $105 $100 $5 $120
  $130 Plan $130 $130 $0 $0
  $160 Plan $160 $160 $0 $0
  Clearly there’s not much value in leasing a cheaper phone at higher contract tiers, but what happens if you supersize the phone? Here’s how the contract tiers work out for a 256GB iPhone 7 Plus:
  Optus Plan comparison
  iPhone 7 Plus 256GB My Plan Plus Monthly My Plan Flex Monthly Saving 24 Month contract difference
  $40 Plan $101 $91 $10 $240
  $65 Plan $117 $107 $10 $240
  $85 Plan $124 $114 $10 $240
  $100 Plan $130 $120 $10 $240
  $130 Plan $144 $134 $10 $240
  $160 Plan $172 $162 $10 $240
  The practical upshot is that the maximum saving you can make on one of Optus’ lease plans is $240 over the life of the contract, and possibly less depending on your handset choices. Depending on your financial affairs there may be other tax advantages to leasing, but you’d be well advised to check with your accountant for tax related matters.
  It's also worth noting that the $99 swap fee is identical to the existing fee that you'd pay if you made use of Optus' New Phone Trade Up deal on a My Plan Plus contract, presuming there was no damage to your existing handset.
  Latest mobile plans headlines
  Chewing through data? 6 ways to satisfy (or subdue) your appetite
  Huge Black Friday deal: 120GB for only $30 a month
  6 best Black Friday mobile plan deals in Australia: Save 70%
  Optus Black Friday phone sale: $400 off S21, Pixel 6 and more
  Telstra Black Friday sale: 48% off phones, Internet + more
  Image: Shutterstock
  Latest mobile plan deals on Finder
  Get unlimited data for just $17.50
  This Finder exclusive offer gets you 50% off for 3 months.
  More info...
  This month’s best SIM-only mobile plans
  Save money with these top no-contract deals.
  More info...
  Save with a prepaid phone plan
  Avoid bill shock and control your spending with the best-value offers.
  More info...
  Find the latest iPhone plan deals
  Easily compare every Australian iPhone plan.
  More info...
  Ask an Expert
  Click here to cancel reply.
  Display Name
  Your Email (will not be published)
  Sign in
  Your Question
  You are about to post a question on finder.com.au:
  Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  finder.com.au is a financial comparison and information service, not a bank or product provider
  We cannot provide you with personal advice or recommendations
  Your answer might already be waiting – check previous questions below to see if yours has already been asked
  I accept
  Your Question
  Δ
  Ask your question
  Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
  Latest headlines
  Chewing through data? 6 ways to satisfy (or subdue) your appetite
  Huge Black Friday deal: 120GB for only $30 a month
  6 best Black Friday mobile plan deals in Australia: Save 70%
  Optus Black Friday phone sale: $400 off S21, Pixel 6 and more
  Telstra Black Friday sale: 48% off phones, Internet + more
  Get exclusive tech offers and guides
  Straight to your inbox
  Sign me up! loading
  By signing up, you agree to the Finder Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
  Share
  Email
  Twitter
  Facebook
  Whatsapp
  Copy
  Copied to clipboard
  Finder AU
  Level 10, 99 York St, Sydney, NSW, Australia 2000
  Australia
  Canada New Zealand Singapore
  United Kingdom United States Other Regions
  About Us
  Careers
  Media Room
  Contact Us
  Partner with Us
  How We Make Money
  Terms of Use
  Privacy & Cookies Policy
  Editorial Guidelines
  Sitemap
  © 2021 finder.com.au
  Finder acknowledges Aboriginal and Torres Strait Islanders as the traditional custodians of country throughout Australia and their continuing connection to land, waters and community.
  Disclaimer - Hive Empire Pty Ltd (trading as finder.com.au, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Please refer to our FSG - Financial Products. We also provide general advice on credit products under our own Credit Licence ACL 385509. Please refer to our Credit Guide for more information. We can also provide you with general advice and factual information on about a range of other products, services and providers. We are also a Corporate Authorised Representative of Countrywide Insurance Group Pty Ltd trading as "Austbrokers Countrywide" ABN 51 586 953 292 AFSL No. 511363 for the provision of general insurance products. Please refer to our FSG - General Insurance. We hope that the information and general advice we can provide will help you make a more informed decision. We are not owned by any Bank or Insurer and we are not a product issuer or a credit provider. Although we cover a wide range of products, providers and services we don't cover every product, provider or service available in the market so there may be other options available to you. We also don't recommend specific products, services or providers. If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) or the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan. (c) 2021.
  Finder Earn and Finder's cryptocurrency trading is powered by Finder Wallet Pty Ltd (ABN 11 149 012 653) an AUSTRAC registered Digital Currency Exchange and reporting entity (DCE100735494-001). Finder Wallet is an arm of the Finder Group specialising in blockchain technology. Finder Wallet operates the Finder App’s cryptocurrency trading and wallet services. Finder Earn, powered by Finder Wallet Pty Ltd, is not offered under an Australian Financial Services Licence (AFSL). Finder Wallet Pty Ltd is not a bank and does not offer banking services. Banks are covered by a Government Deposit Guarantee. Finder Wallet's services are not covered by the Australian Government Guarantee on Deposits.
  Feedback
  How likely would you be to recommend finder to a friend or colleague?
  0
  1
  2
  3
  4
  5
  6
  7
  8
  9
  10
  Very Unlikely Extremely Likely
  Required
  Submit
  What is your feedback about? What is your feedback about? Site speed Content quality Ease of use Ease of finding information Site appearance Other Required
  Please tell us how we can improve
  Required
  E-mail address – optional
  Optional, only if you want us to follow up with you.
  By submitting your email, you agree to the finder.com.au Terms and Conditions and Privacy Policy.
  Submit
  Thank you for your feedback.
  Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
  ×
  Important information about this website
  finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
  finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
  Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
  Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
  Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
  When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
  We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
  Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
  Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
  Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.