ZTE has announced that it will begin its own lease-to-own payment plan for those who want to purchase a new smartphone but spread out their payments. Customers will soon be able to spread device payments out over 6 to 24 months for ZTE devices, regardless if it is a carrier-locked or an unlocked device. The new lease options cover not only smartphones from ZTE, but other devices such as the Spro 2 smart projector as well.

With the ZTE lease, you will have access to new smartphones, even with less than great credit. You are able to upgrade at anytime by cancelling the current lease, returning the device and then purchasing or leasing a new device. Over the past few months we have seen the number of leasing and financing options grow as carriers move away from contract pricing. Will ZTE's new lease-to-own payments entice you enough to have it be your next purchase? Let us know in the comments below.

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Press release:

ZTE Introduces New Lease-to-Own Option for Smartphones and Mobile Devices

ZTE customers can now get a mobile device and pay for it over time

Richardson, Texas – October 14, 2015 - ZTE USA, the fourth largest smartphone supplier in the U.S. and second largest in the no-contract market*, today introduced a lease-to-own payment plan for customers who want to pay for their phone or other mobile device over time and spread out their payments to make it more affordable. This lease-to-own payment option is provided through SmartPay ™ Leasing Inc. and will be available online for all customers beginning soon at www.zteusa.com.

Lease-to-own is available for unlocked devices such as the recently launched Axon Pro and other mobile devices such as the ZTE Spro 2 Smart Projector.

"We are introducing leasing options because we believe advanced mobile technology should be available to everyone. We also want the experience of purchasing and using a ZTE device to be easy for any consumer," said Lixin Cheng, CEO and chairman of ZTE USA. "How customers want to pay versus the amount they are comfortable paying are equally important – and ZTE can provide the best of both worlds."

Leasing options for credit scores of all types

With SmartPay, you can get an immediate approval to lease ZTE devices. If approved, simply select the ZTE device you want, make your first payment at checkout and make scheduled monthly payments thereafter**.

No long-term contracts

The length of a lease plan is determined when you apply and can range from 6 to 24 months. Once all payments are made, the lease is complete and you own the device. You can also pay off your lease early without any penalties or future fees***.

Upgrade your phone when ready

If you're up-to-date on your monthly payments you can cancel your lease at any time and upgrade your device by simply returning your current device in good working order to SmartPay. Once your phone is received your lease is cancelled and you're free to get the new device you want.