OnePlus has made it even more appealing to consider purchasing one of its unlocked Android-powered smartphones. The Chinese handset maker today announced it will accept payment installments for products priced $99 and higher.
With global customers becoming increasingly more comfortable with purchasing unlocked phones directly from vendors, OnePlus offers an interesting alternative to phones like Google's Nexus line. And, now that it has done away with the invite-only system, the OnePlus family of devices is more readily available.
Today sees the phone manufacturer offering US consumers three installment options for phones such as the OnePlus 2. Buyers can spread the cost out over 6-month, 12-month, and 18-month periods using PayPal Credit at checkout. Whereas OnePlus phone prices typically cost less than big-name flagships, it still required customers to fork over a couple hundred dollars (or more) up front. By allowing for installments, buyers can enjoy the peace of mind in low-cost payments that are carrier agnostic. This allows users to hop from one GSM carrier to another without losing the phone or wasting money.
Interestingly enough, OnePlus didn't mention the 19.99 percent interest rate that's tacked onto the payments. In looking at the terms and conditions, it appears the fee comes from PayPal's side and not OnePlus. In other words, the phone maker isn't making any extra money off users who take advantage of the installments. Nevertheless, it's worth noting that you could end up paying slightly more for your phone in the end.
The OnePlus 2, which costs $349, breaks down to $22.60 per month over 18 months. However, when it's all said and done, you're looking at nearly $58 in interest over the period.