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Sprint launches $70 a month ‘iPhone for Life’ lease plan

Love it or lease it? Sprint customers will now be able to decide whether they really want to commit to the iPhone 6 or 6 Plus and buy it, or if they just want to lease it and turn it in when the next iPhone launches. The new plan, called “iPhone for Life,” lets Sprint subscribers lease the new iPhone on its Unlimited plan for $70 a month.

Sprint’s new plan targets iPhone addicts who always buy the latest and greatest iPhone as soon as it comes out, regardless of whether they’ve paid off the old one or not. Would-be iPhone for lifers will pay $20 a month to lease the new iPhone 6 or iPhone 6 Plus. Then, after two years, they would be eligible to upgrade to the next iPhone, which they would also lease.

Related: Here’s the iPhone 6 and iPhone 6 Plus: Everything you need to know

Although leasing the iPhone means that you won’t own it, it will cost you a lot less at just $480 for two years of use. However, if you break it you buy it, unless you get insurance from Sprint, but that will cost you extra.

Related: Hands on with the iPhone 6 and iPhone 6 Plus

Those who sign up for the iPhone for Life plan can choose between two different service and payment package options. Individuals can join the Unlimited plan for just $50 a month, plus the $20 a month iPhone lease payment. Meanwhile, families can sign up for Sprint’s newly updated Family Plan, which costs $100 a month for a family of four and $180 a month with the added cost of four leased iPhones.

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Of course, for those of you who prefer to own the iPhone 6 or 6 Plus, Sprint still offers its financing option or the two-year contract discounted phone price.