Phone leasing with giffgaff - a new experiment

amy_b_d

Hi everyone. I hope you’re good today.

At the end of June, we sent a survey to some giffgaff pioneers to see what they think of phone leasing. With leasing you pay a lower monthly price compared to traditional financing. It’s also more economically friendly where less phones end up in landfills or draws.

764 members answered our survey and a whopping 64% surveyed said they would be interested in leasing a phone which is why we are carrying out phase 2 of our research.

We’ve partnered with Raylo who offer new and refurbished iPhones (Android phones are coming soon), on a leasing plan. As mentioned, you pay lower monthly prices and at the end of the lease if you choose to upgrade and stick with Raylo, you will receive a new leased phone and will have 14 days to return the old one to Raylo. Otherwise to simply end the lease, you will return the phone to Raylo.

As a thank you to our members for answering the survey in June, Raylo has given giffgaff an exclusive and invitation-only offer for those giffgaff pioneers to use and purchase a new or refurbished phone on their leasing plans - if they are in the market for a new phone.

In 3 months time, we’ll reach out to those members who did get a phone from Raylo, to ask how their experience was and what they think about phone leasing once they’ve tried it.

If phase 2 of our experiment goes well, it could open up a new way to buy phones at giffgaff. So not only is it cheaper for you, it’s great for the environment as well.

I’ll be emailing this link personally from our member panel email address so if you do receive the email and you have any questions you can ask here or respond back and I’ll be happy to answer them for you.

Thanks so much for your ongoing support and feedback. I’m looking forward to working on more experiments with more of you in the future.

Amy

mrjeeves

amy_b_d

Fancy!

This is very interesting, indeed.

Is there an option to keep the phone via an outright payment at the end of a leading period?

ray2

amy_b_d Hi Amy i really like the idea but would need more detail ,also good to hear Android are coming soon.

How does it work if the phone needs repair or becomes faulty on these leases,is it covered within the payments you make?

ray2

harrrrrry Associated with that, I imagine there will be questions about whether accidental damage insurance is included and/or available as an extra, and what happens at the end of the lease term – ie, will the phone belong to the member as at present, or will it have to be returned or bought?

It seems a lot more questions than answers so far ,a more indepth post from amy_b_d needed to clarify some things.

danwillen

harrrrrry and what happens at the end of the lease term – ie, will the phone belong to the member as at present, or will it have to be returned or bought?

From reading this part of opening post I would say phone remains property of leaseing company and has to be returned then lease is finished.

amy_b_d at the end of the lease if you choose to upgrade and stick with Raylo, you will receive a new leased phone and will have 14 days to return the old one to Raylo. Otherwise to simply end the lease, you will return the phone to Raylo.

Which brings up what happens if phone is lost or damaged? Also dose Raylo limit who can do repairs on the devices to the manufacturer and only 3ed party company’s approved by raylo?

bobrobinson

amy_b_d

Awwww amy.
This seems like a great idea and im sure many gaffers will try it out.
All the best and thanks for letting us know.
Bob 😄

charlixsparkles

amy_b_d thank you for the invitation but I’m not in a position to take part in this experiment 🙁 I hope that others find this interesting!

formulaone

amy_b_d

Awesomeness Amy! A good move! 🙂

dtuxcomp

amy_b_d Hi Amy, personally I only ever buy my phones outright with cash, but it sounds like a great idea for people who would normally either use a contract to get a phone, or loans. I really like the returning at the end of the plan option, anything that lessens waste. I’ll be watching progress though 🙂

amy_b_d

mrjeeves Is there an option to keep the phone via an outright payment at the end of a leading period?

You can indeed.

@ray2 danwillen harrrrrry
I have found this link regarding Raylo’s insurance, https://help.raylo.com/en/articles/3284039-raylo-s-insurance-policy-summary which includes what’s covered if your phone is lost, stolen or damaged. You would just need to contact them if you have any problems or need to make a claim.
This guide covers what happens and how you would be charged if you return the phone damaged: https://help.raylo.com/en/articles/3330261-returning-your-iphone-damaged

I’m trying to gather any additional information for you if there is any. 🙂

harrrrrry

ray2 How does it work if the phone needs repair or becomes faulty

Associated with that, I imagine there will be questions about whether accidental damage insurance is included and/or available as an extra, and what happens at the end of the lease term – ie, will the phone belong to the member as at present, or will it have to be returned or bought?

ray2

amy_b_d Thanks Amy,wow some of the prices are really steep if the phone is sent back damaged.
It doesn’t say how much their insurance policy is on top of the lease price,the excess is also something to consider when going into this.

bluemoonbaz

Cheers @amy_b_d its an interesting step forward for members to get a new phoneb

amy_b_d

ray2 You do have some very good points. As this is an experiment, I appreciate you all having a look and sharing all your thoughts and feedback. It’s really valuable. 🙂