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Optus Post Paid - No Cancellation Fee on New 24 Months Contract

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Optus Post Paid - No Cancellation Fee on New 24 Months Contract
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AssociatedAce26 @ Optus Accessories on 13/04/2016 - 18:36 optus.com.au (1881 clicks)
Last edited 13/04/2016 - 21:30

New My Plan Plus (launched in March this year) offer following key features

  1. No cancellation on 24th Month plan (yep no cancellation fees)
  2. However, if you chose to cancel then you will be liable to pay any handset repayments (this will not include any handset credits) See example below
  3. Upgrade to a new phone after 12 months on being the plan by paying $99 (there are some condition as to how good you looked after the handset, might not work for everyone but might to some)

Other features that these plans offer (not new with the new plans)

  1. Data pooling over multiple services
  2. Data SIM can be added without ongoing monthly fee (but with a one off $5 fee)
  3. Data top ups at $10 per 1GB of additional usages (charged per GB)

Current listed price on Apple.com.au for an Apple iPhone 6S in 64GB capacity is $1229
If you sing up a $80 contract handset repayments are 18/month making the plan total of $98/month (which includes $33 handset credit)
If you chose to cancel the plan $51/month (51*24 = 1224)

Mods: Pls move to forums if this is not considered a deal

Please note: I am an employee of Optus and work at their head office, I wont be able to answer specific questions re these new plans. I declared myself as store rep as per OZB guidelines.

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  • Savas on 13/04/2016 - 18:39

    How is it a contract then?

    • portard on 13/04/2016 - 18:41
      +1

      You're still liable for handset repayments for the remainder of the 24 month contract. So yes, it is still a contract, you just don't incur cancellation fees.

      e.g You can be on a $50 plan with $10 handset repayments per month, the total is $60/month but it is split between the plan and the handset.

      • lac0449 on 13/04/2016 - 18:44
        +2

        doesn't really differ from other providers BYO/Casual offers from what i can see.
        Yes, you can bolt on a phone, though this isn't something i would consider as a 'deal'

    • llama on 13/04/2016 - 19:35
      +3

      How is it a contract then?

      The contract is to purchase a mobile handset at full retail price and repay it over 24 months…

      …OR pay for the handset in full if you wish to leave the contract.

      Either way, you pay full retail. So, you might as well just go and buy a phone at full retail.

      (of course, nobody here on Ozbargain would go an buy a mobile phone at full retail price, would they?)

  • lac0449 on 13/04/2016 - 18:41
    +2

    Whats the actual deal?

    • tonyjzx on 13/04/2016 - 18:45
      +3

      It isnt really a deal unless you live in an area with marginal coverage. You receive a 'get of of jail free' card.

      I dont see the point myself… just spend a few bucks on a prepaid and see for yourself.

  • cDNA on 13/04/2016 - 18:41

    What's the difference between the plan I signed up to in Late February (Samsung galaxy s7) and this one?

    • nexus4 on 13/04/2016 - 21:07

      You're stuck with Optus for two years. If you had this plan you could break your contract whenever you like, just have to pay for the phone.

    • ltwo on 13/04/2016 - 18:57
      +2

      Isn't that a bit harsh?

    • llama on 13/04/2016 - 19:05
      +7

      Agreed. These plans are just a tax on people who are bad at maths.

      • shroomish on 13/04/2016 - 19:14

        harsh but true

        • llama on 13/04/2016 - 19:26

          Case in point, from the OP's description:

          If you sing up a $80 contract handset repayments are 18/month making the plan total of $96/month

          Errrrmmmmm… that's a total of $98/month.

          If you chose to cancel the plan $51/month (51*24 = 1224)

          So, you must pay (remainder of) full retail or forfeit the phone when you leave.

          OK now, what's disadvantage of buying a phone for less than full retail and using BYO Prepaid SIM, compared to locking yourself into a plan then paying full retail for a phone when you leave?

          The people who go for these plans reckon they only do it because they don't have the $$ to buy a phone up front. The reason that they get locked in is that they don't have the money to buy a phone when they leave either.

          Hence, they get stuck with being ripped on the call charges, etc. Madness, utter madness!

          The example in the OP is $2352 over 24 months. You should be able to get a iPhone 6S for 10% off, so let's say $1100 up front. So, you are paying $1250 for your SIM… that's $52 per month, and to me that seems expensive (especially for Optus).

        • AssociatedAce26 @ Optus Accessories on 13/04/2016 - 21:30

          @llama: thanks corrected price.

    • bghunter on 13/04/2016 - 19:21
      +1

      Agree to your first part but not with the second. That means 'if I can't afford a house upfront, I don't deserve one?'

      • llama on 13/04/2016 - 19:31
        +2

        On Mortgage repayments you are only locking in to something like 4% per YEAR in interest, about 0.3% per month. And your purchase is an appreciating asset.

        Completely different to "Financing" a depreciating liability like a mobile phone at the high "equivalent rate" that's hidden in these phone plans.

        • bghunter on 13/04/2016 - 19:35

          Got your point. Thanks

        • StewBalls on 13/04/2016 - 21:04

          @bghunter: Don't get too cocky, Hockey…you ain't getting that house just yet, first you're gonna need a better job! ;)

          In the meantime, here…have an iPhone.

    • [Deactivated] on 14/04/2016 - 00:09

      Really?

      I pay $95/mth for an IPhone 6+ 128GB on Telstra. Launch price was $1249 so that gets spread out over 24 months and I effectively pay $43pm for the non handset component on Telstra medium plan. From what I can see any decent amount of calls and data even on BYO costs at least $50pm on Telstra, except this way I don't have to fork out the $1249 upfront, which saves me interest sitting in my offset account instead of Apple's bulging coffers.

      By your logic, does someone who takes out a car loan to buy a newer more reliable car undeserving of that car even though they're responsible for paying it off? I'm starting to feel a little bad about my cheap Japanese hatchback I've got running on novated lease which gives me huge tax advantages.

      In my books the people who don't deserve iPhones and new cars are spoilt little sh!ts who get everything handed on a platter to them by their parents and flaunt them as status symbols, without earning them or realising you don't measure a person by the 'things' they have. As long as you pay it off with your own two hands you deserve it in my opinion.

  • dan76n on 13/04/2016 - 19:12

    Are there any phones that you could get where the handset repayments work out cheaper than buying the phone outright?

    • modsec802 on 13/04/2016 - 20:19

      No. Optus would lose money that way.

  • modsec802 on 13/04/2016 - 20:44
    +6

    Using the theoretical example of the OPs plan for 12 months and deciding you want a new phone.

    The 6gb data $80 phone plan is available for $40/month sim only so let's assume the $480 of Optus value.

    Already paid $96 x 12 months = $1152 minus the $480 Optus value you would have paid for a sim for that time so phone cost so far is $672.

    You can either keep the phone and pay $51 x 12 months to pay out the phone = $612, so a total cost of $1284 for the phone (plus $480 you spent on 12 months Optus value).

    Or you can pay $99 and give the phone back, so you've spent $782 on a phone which Optus will keep and you start on a new 24 month plan with a new phone. Optus would have to resell that 2nd hand phone for at least $513 to be in front, otherwise they'd be better off you just paying them $612 and keeping the phone.

    If you decided to sell the 12 month old iPhone yourself for more than $513 than every dollar over this amount you're better off just paying out the remaining repayments and starting a brand new contract should you choose.

    If you decided to keep the phone and switch to the $40 byo plan with the same data the 24 month cost would be $1152 + $612 device + $480 byo = $2244 which is better than just staying on the plan for $2304

    So assuming the Optus value you get over the two years is $960 ($40/month) and the total cost is $2304 then the price you're actually paying for the iPhone is $1344, which is about right considering it retails for $1229 and you're paying nothing upfront (opportunity cost of that amount over 24 months).

    • modsec802 on 13/04/2016 - 20:57

      No such thing as a free lunch

  • huang_gb53 on 13/04/2016 - 21:04

    Assume I am going to sign up for iphone7 plus 64GB for the standard $40 + 45 repayment plan, pay 99 to get a new phone each year. And my brother is going to buy the outright phone and renew every 2 years on a $40 sim plan.

    Over the 4 years. My cost is 85 x 48 + 99 + 99 + 99 = $4377
    My bro cost is 1379 + 40 x 48 + 1379 = $4678

    Pros: I got new phone each year, iphone 7P, iphone 7sP, iphone 8P, iphone 8sP
    Cons: I don't actually own those phone

    Pros: My bro have one iphone7 + one iphone8 to keep/sell/pass to family.
    Cons: Can not show off with the lastest phone like me.

    • modsec802 on 13/04/2016 - 21:15
      +2

      You're missing one key thing: at the end of the 4th year you'd still owe 12 months of repayments on your 8sP, so you'd need to pay Optus $540 to be finished.

      You'd have one 8sp and had spent $4917

      Your bro would have two phones and have spent $4678

      • cloudie9 on 13/04/2016 - 21:58

        Or just get the cheapy starter kit deals. Save further!

      • huang_gb53 on 13/04/2016 - 22:08

        The calculation is based within the first 4 years only.
        In the fifth year of coz I am going to start another 24 months contract and get a iphone 9. XD

  • EyyBanane on 13/04/2016 - 21:53
    +1

    This is good for folks who can get their phone bills reimbursed from company. For ex, I can get $100 worth of charges reimbursed from company, and this deal is good for me because I don't have to worry about paying $100 every month for the rest of 2 years whenever I quit the company. I can just move on to another cheaper plan after paying for the handset.

  • rdes86 on 14/04/2016 - 14:13

    Ace 26 : Could you please confirm if Optus still has the Data SIM can be added without ongoing monthly fee (but with a one off $5 fee) . I tried getting that & I was told I can't get it as it is no longer available. Would you or anyone else please confirm about that ?

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