Just a few days ago, T-Mobile announced their new rendition of their popular JUMP! program and called it "JUMP! on Demand.," or JOD for short. This latest phase makes it even easier for tech fanatics to trade-in their 'old' device for a new one up to three times a year and during an eighteen-month 'contract' period...yes, I know T-Mobile doesn't like to use that word, but it is what it is. T-Mobile wasted no time in implementing their newest JOD program and it is available right now and live in-store, although you are limited to the Galaxy S6 and S6 Edge, Galaxy Note 4, LG G4, iPhone 6, and iPhone 6 Plus - with more devices to follow.
With this new JOD program, there is zero money due upfront for "well-qualified" buyers - those that have made 12 consecutive monthly payments on time - to get started on the program of being able to swap a new phone up to three times a year. Even if you are required to pay a "Capital Cost Reduction" fee (down payment) your monthly payment is reduced and you end up paying as much as a 'well-qualified' individual. When you do decide to upgrade, you just trade-in your phone, less any damage fees, and you can start using your new device with no upgrade fee. And do not let that $250 'damage fee' worry you - it is only implemented for three things...a cracked display, liquid damage or failure for the device to power on.
T-Mobile's JUMP! on Demand is truly like a car lease but without the down payment. You can swap out your device up to three times a year on an eighteen-month term...just remember, every time you swap to get a different device, you are re-upping for another eighteen months. If you do not swap out your device, after eighteen months you need to decide if you want to swap or buy out your existing device with no penalties. In other words, if you get a $700 device and at the end of eighteen months you have paid $450 towards the device, you would owe T-Mobile $250 to walk away and own the device...no markup fees. The monthly payment depends on the device you select, but they are running about $25 to $33 a month for these premium devices.
Nobody knows how many users will 'jump' to this new program, at least initially. If you are on one of the older JUMP! plans, you must pay off you device's EIP balance before you can start the new program - some may do that right away and others may wait for their prior JUMP! device to be paid. Analysts are predicting 25-percent of customers will 'jump' at the chance to upgrade three times a year...a reasonable number for sure.