iPhone X: This brand-new car is CHEAPER to own than Apple’s all-new iPhone
SMARTPHONE monthly contract costs are increasing, as modern smartphones become more sophisticated. Proof, if proof were needed – you can now lease a brand-new car for the same or lower monthly cost than the iPhone X.
iPhone X contract on EE can cost more than a new Suzuki Celerio lease
Car leasing is becoming an increasingly popular option in the UK, as the possibility of buying a car seems out of question for a large proportion of motorists.
Last week, Volvo launched its new XC40 SUV alongside a new Care by Volvo monthly subscription service.
This new package bundles together all the costs associated with owning and running a car into one monthly payment.
Volvo claims “having a new XC40 will be as hassle-free as having a mobile phone”.
iPhone X contract comparison to Suzuki Celerio lease deal
On paper, it seems like Volvo might be right. Unfortunately, it’s much more expensive than a smartphone as well.
The monthly payment for the XC40 SUV is fairly expensive at £629 – and it’s non-negotiable.
Some cars are a lot less expensive to lease. For example, the Suzuki Celerio can be bought from a UK dealer for £79 a month, revealed Sophus3.
This is cheaper than some monthly contracts for the maxed-out iPhone X.
For example, mobile firm EE is offering the top-of-the-line 256GB version of the iPhone X for £82 per month.
I would not be surprised to see more cars offered on payment terms below that of mobiles
There are cheaper contracts for the iPhone X available, both with EE and other mobile networks.
Carphone Warehouse is selling the iPhone X for £62.99 a month, with 20GB of 4G allowance and a £179.99 upfront cost.
Sophus3 Managing Director, Scott Gairns said: “Mobile has converged with mobility.
“This new benchmark in car finance is fuelled by increasingly competitive monthly finance rates, from a growing list of rival finance providers, and the challenge to hit year-end sales targets.
Apple launches brand new iPhone X features
“I would not be surprised to see more cars offered on payment terms below that of mobiles before the end of the year.
“In principle, this isn’t necessarily a bad thing. Cars will anyway become part of a monthly mobility model within the unstoppable digital transformation of automotive retail.
“And at less than £100 per month even more car-buyers will be tempted ‘today’ to buy digitally.
“But are the car brands ready to engage and transact online with customers in the style of a Vodafone or a Carphone Warehouse?
“Sophus3’s survey shows that the consumers’ experience online can still be confusing, or even off-putting, leading to lost business for the car brands, and their Captive Banks, or consumers taking out finance without a complete understanding of their commitments.”