o2 My Handy: Advantages and disadvantages of buying in installments for smartphones
The telecommunications service provider o2 offers you the opportunity to pay for your smartphone in installments under the "My Handy" label. O2 offers you two financing plans.
The advantages of the "My Handy" o2 offer
Everyone knows the conventional variant: You sign a mobile phone contract and get a cell phone at better conditions, but this is usually provided with a two-year SIM lock. The "My Handy" model from o2, on the other hand, is completely different.
- It starts with the fact that you can purchase the smartphone completely independently of a mobile phone contract.
- The mobile phone is delivered without SIM lock or branding. So you can also use it with a prepaid card, for example, and you don't have to be bound by a long-term mobile phone contract.
- As financing, o2 offers payment in installments. You can choose between a 12-month and a 24-month term. Alternatively, you can also pay the entire remaining amount at once at any time.
- The monthly payment in installments is of course also based on the value of the selected smartphone and the term of the contract. The rates are on average around 25 euros per month, but can also go up to 40 euros.
- In addition, you usually make a down payment that ranges from one to 49 euros - depending on your smartphone.
- Your old mobile phone takes o2 in payment if you want to. So you can push the rates down again.
- The financing plan also includes cell phone insurance in two versions, basic and premium. However, the insurance is not mandatory, but an additional offer. It costs 6.95 euros per month in the basic version and 8.95 euros in the premium version (as of January 2014).
- The smartphone offer at "My Handy" leaves nothing to be desired. All well-known and sought-after brands such as Samsung, Sony, HTC, Nokia, LG or of course Apple are represented.
The disadvantages of "My Handy"
The disadvantages are quickly listed in the "My Handy" model: Basically there are none. Of course, there can be providers who already offer identical smartphones at a lower price - but without a possible installment payment. As long as you stick to the agreed installment payments, you will have no problems with o2 "My Handy".
We have put together other ways for you to get your dream cell phone at a reasonable price.