Guide To Mobile Phone Financing

A new mobile phone: selection and financing in 2020

A new mobile phone is needed: powerful, suitable for everyday use, pretty in design and preferably not too expensive. Practical experience has shown often enough that these three requirements cannot always be reconciled in practice. Particularly when it comes to performance and price, one’s own demands are only too happy to contradict the available budget. If the right mobile phone or smartphone has been found, but is too expensive, financing can be a viable option, provided there is no compromise whatsoever with regard to your own requirements. The following guide is intended to give the reader a few helpful tips on buying and financing a new mobile phone.

Financing a mobile phone: 13 tips for preparing the purchase

  1. processing and display: If you want to afford an expensive device, you naturally expect a correspondingly high-quality finish. So it can’t hurt to convince yourself of this on site at the dealer. The display should be large enough, but not too large, as this makes one-handed operation difficult.
  2. performance: Which performance is required at all? Is a top-of-the-range device even necessary or are smaller models already sufficient to fulfil their purpose?
  3. find the right type: In some cases it does not have to be a smartphone with a touch-sensitive display. For people in the prime of life who only need a mobile phone with the essential basic functions, a senior citizen’s mobile phone with extra large buttons may be sufficient.
  4. robustness: Those who are often out and about in woods and fields and in all weathers attach importance to a mobile phone that can withstand these stresses and strains. Special outdoor mobile phones are significantly more resistant than normal devices and do not let the user down.
  5. size and weight: Both are important features for the everyday suitability of the new mobile phone. Does it still fit in your pocket, does it need a larger jacket pocket or does it have to be carried around all the time?
  6. operating system: One of the most important decisions lies in the choice of the operating system. The two most popular systems are iOS from Apple and Android from Google. If you prefer cheap and free apps, Android is the better choice.
  7. case: Usually a secondary issue that should not be underestimated. Plastic cases don’t look as valuable, but often offer better acoustics. Smartphones with a glass casing look very classy, but are susceptible to fingerprints.
  8. games: For some fun in between, there are countless games. In order for these to run as they should, the smartphone needs a sufficiently large display and of course sufficient processing power.
  9. dual sim mobile phone: Especially border crossers quickly get into the situation of needing two SIM cards. So if you don’t want to carry two mobile phones around with you, buy a device that can take two such cards – one for each country and each tariff.
  10. battery charging time: In order to quickly recharge the battery to its full capacity, it is recommended to pay attention to the QuickCharge function. This means that recharging takes no longer three hours, but only 30 minutes.
  11. camera: For many users, the cell phone has replaced the digital camera. However, there are also significant differences in quality from model to model. So if you don’t just want to take a few snapshots, but want to create professional-looking recordings or videos, pay attention to the number of megapixels and the ability to record Full-HD videos, for example.
  12. storage space: If you take a lot of pictures and like to record videos, you should make sure you have enough storage space. At least 32 GB internal memory should be available. However, with the help of micro SD memory cards, this can be expanded for little money.
  13. new or used?: Mobile phones without a contract can be expensive, as the overview of current models below shows. So it may make more sense to buy a used model that is no longer quite up to date.

Models and pricing

What are the main model and price differences?

The current top models currently start at 400 GBP. However, the 100-pound mark will not be exceeded, depending on the current range and the respective dealer. This is especially true for Samsung’s latest model, the Galaxy Note 10.

Overview: current models and their price in 2020

An overview of the current top models proves that smartphones can be extremely expensive. The best example is the Samsung Galaxy Note 10 with 128 GB memory, which currently costs between 800 and 900 pounds. No bargain, then, if you always want to be on the move with the latest in new products. Sure, there is also a cheaper way. However, not every user is prepared to lower their expectations. Here is therefore an overview of the current top devices and bestsellers in UK.

Financing a mobile phone or smartphone

In view of the prices shown above, it is clear that a modern smartphone cannot exactly be financed from petty cash. If the budget is not sufficient, either the claims must be scaled back or financing must be claimed. There are three possibilities for this: Payment in instalments at the dealer or manufacturer, financing through a short-term loan or a guarantee.

Installment payment at the manufacturer or dealer

Some manufacturer dealers offer their customers payment by instalments. The offers are usually valid for the current top models. The conditions of such offers should always be compared with bank financing, even with zero percent financing. The price should not be ignored either. If the mobile phone is available at a significantly lower price from another dealer who may not offer financing, the loan from the bank can still be the cheaper alternative.

Financing with a mini loan

The mini loan from Lender is actually made for the purchase of smartphones: with loan amounts between 100 GBP and 3,000 GBP (maximum 1000 GBP for first-time customers), any smartphone can be financed. The term can be between 15 and 90 days – and all this at really favourable conditions. Lender is above all, however, an option for last-minute customers who do not want to wait long for the payout. Thanks to the express option, processing is possible within just 60 minutes. This works thanks to online processing via Videoident, for which only a webcam is required. Those who would like to take a little more time with the repayment can choose a flexible 3-6 installment option. So if you want the financing to be particularly quick, for example because you have a top offer, Lender is the right solution.

Mobile phone financing with guarantee

The guarantee can be a loan transaction or an instalment purchase. It is characterised by the fact that a citizen joins in and, if necessary, takes over the payment of the instalments or takes over the repayment of the loan. The guarantor is therefore responsible for the debtor’s debts. Especially in business with young people who are not yet of age, the guarantee can be the only way to finance the mobile phone yourself. However, the bank or dealer expects the guarantor to have a corresponding credit rating, which is verified by a Schufa (German credit investigation agency) information. A distinction is made between default guarantees and directly enforceable guarantees. In the case of a deficiency guarantee, the guarantor is only liable after the creditor has already tried in vain to demand payment. With a directly enforceable guarantee, on the other hand, the guarantor steps in immediately if irregularities occur.

Extend service life: Suitable accessories for the Smartphone

Anyone who has indulged in the luxury of a state-of-the-art smartphone and invested a considerable sum of money in it would logically like to enjoy this device for as long as possible. So it can’t hurt to put a little more money in your hand to protect your acquisition from damage. The bulletproof glass protection foil is part of the standard equipment, as it protects the sensitive display against mechanical effects that could scratch or completely destroy it. Sharp and pointed objects with which the smartphone then comes into contact can no longer do much damage to it. This measure is particularly advisable if the phone is often transported in bags or backpacks with other loose objects such as keys or nail files.

The back should also be protected. For this purpose, there are appropriate cases available in specialist shops for small money. If you don’t want to compromise the design of your new smartphone too much, choose a transparent cover in a rather minimalist style. This makes the cover almost invisible and hardly noticeable. Nevertheless, it should be equipped with reinforced corners, as smartphones are known to fall onto these when they slip out of the hand or off the table. Of course, the cover should also match the corresponding model so that the cut-outs for the camera lenses are in the right place.

Those who want to be on the safe side should get a case for their smartphone that can be opened and closed or into which the device can be inserted from above. There is a wide choice of cases, but you should also make sure that they are compatible with your model. The rest is more a matter of personal taste. Especially in terms of color, shape and material, there should be something suitable for every taste, especially for current smartphones. Many cases also offer additional compartments for membership cards or cards.

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