O2 new lease plans for iPhone 4S let you have it with no upfront cost

You are living in the UK, desperately want the new iPhone 4S, and you are currently running a little low on cash? If you tick all the boxes, you might be interested to hear that O2 will let you have your dream smartphone on a lease with no money required upfront.
The carrier will let you have the smartphone on a 12-month lease without demanding any cash up front. For £55 per month you are getting the 16GB version of the Apple iPhone 4S without any initial investment, whereas on a regular 12 month contract you'd need to pay at least £49.99 upfront and that's if you go for the £62/month deal.
The lease offer includes 750 minutes per month, unlimited texts, 500 MB of data and unlimited UK Wi-Fi plus insurance for the precious phone. That's roughly equivalent to what you are getting on the regular £42/month contract.
Naturally, there's a catch. And if you ask us it’s big enough to steer anyone that's not completely desperate away from these lease plans. Under the conditions of the Lease contract you are not the owner of the phone and you need to return it to O2, when the 12 months are over, so it's actually more of a rent kind of deal.
So, it turns out that O2 believes that the iPhone 4S will be worth under £100 after 12 months, as that's how much you are saving for giving up on it. And no, it's not that they suppose that customers will treat it badly and that will drop its price. There's a dedicated clause saying that "with O2 LEASE, the phone isn't yours and if you don't return it in satisfactory condition at the end of your lease, you may have to pay substantial charges".
Any takers remaining may head to the source link or just head to the nearest O2 store to get their shiny new Apple iPhone 4S.
Source | Via