Would You Take This iPhone 12 Deal from Optus?

fungi79 on 22/12/2020 - 15:29

Called Optus to migrate my cable internet to NBN and got offered this deal on iphone 12 128gb:

  • $1428 for the phone, payable over 12, 24, 36 months
  • $24.50 per month for 60gigs of data
  • No contract, just pay out the phone for early termination
    Min cost for 12 mths = $1717

I compared this with the popular $89 / mth with $700 GC plan:
- $729 out of pocket for iphone 12 128gb
- $89 per month for 150gigs of data
Min cost for 12 mths = $1797

This will be for my wife, she doesn't use more than 60 gigs of data. The advantage for me is that I have the option of paying over 36 mths if I wanted to, rather than pay $729 + $89 in the first month.

Would you take this deal?

Poll Options

  • 6
    Yes: I would take this deal
  • 39
    No: it's a rip off
  • 4
    Does it have band 28?
Mobile Apple Mobile Phone

Comments

  • AustriaBargain on 22/12/2020 - 15:33

    Half the price of Telstra for the plan. Optus now have no excess data charges iirc, so now they are at parity with Telstra with that. Optus don't have unmetered Apple Music, if that matters. I dunno if I'd trust Optus over Telstra where it counts, speed and reliability.

    • buckethat on 22/12/2020 - 19:25

      Hey I'll sell you an iPhone 12 Pro Max for 10% of the RRP, but you have to pay $300/month for the phone plan, but hey the phone is 90% off. Not really half the price. Since you're stuck with the $89 plan. It's only truly half price if he can just walk away with it without having to pay for the plan.

      And like he said, min cost for 12month with the GC plan is actually more expensive. Granted you get more data, but if his wife doesn't even use 60gb then thats just money down the drain anyway.

      • AustriaBargain on 23/12/2020 - 01:42

        But what if you want a plan anyway.

        • buckethat on 23/12/2020 - 03:54

          If you want a plan anyway, then Optus 24.5/month is better value for money than 89/month especially given that his wife won't be using more than 60gb anyways.

          Say you go with Optus on 24months plan.. total will be 1428 + (24.5 * 24) = $2,016

          If you go with Telstra for 24months it'll be 729 + (89 * 24) = $2,865

  • CyberMurning on 22/12/2020 - 15:54
    +5

    again, i repeat this - plan is not good. full stop, no but no bit no bat.
    if you need a plan so you can carry the latest phone then that phone is not for you.

    • follow on 22/12/2020 - 16:02

      you're paying rrp over 36 months with no early termination on the sim side. hardly the worst plan.

      • Astrom on 22/12/2020 - 18:27

        By the time you've paid off the RRP the phone will cost half of what it did new, if there is no discount why bother going on a plan at all?
        At least it doesn't cost more (but it kind of does since you're on an Optus plan instead of a reseller now)

        • follow on 22/12/2020 - 18:37
          +3

          not everyone can pay upfront

        • buckethat on 22/12/2020 - 19:08
          +2

          From a financial point of view..

          Paying RRP over a 36month period is cheaper and makes more sense financially than paying RRP on the onset due to something called time value of money and opportunity cost.

          Say for example.. You're paying $1800 over 36 months.. and the interest rate for a savings account is 2%.. the present value of that 36 payment is $1695. So over 36 months you will be paying equivalent to $1695 today, versus paying $1800 from the get go. Of course, the bigger factor for most people is the fact that you are able to split the payment over a longer period of time so you don't have to fork out 1.8k straight away.

          I'm a little rusty with this cause I haven't used or thought about this in a long time but I'm pretty sure thats the jist of it.

        • fungi79 on 23/12/2020 - 10:39

          I will be locked into a repayment plan for the phone, but the actual sim plan itself I can cancel anytime so if I want to I can find a cheaper sim plan.

  • buckethat on 22/12/2020 - 19:22

    Whats the terms for that $89/month plan? Can you cancel after 12 months with no extra fees?

    Either way you cut it, if your wife will not be using more than 60gb anyways, then the extra 90gb is worthless. And if both plans can be terminated at 12months at the prices you stated, then just go with the Optus plan.

    You also have the option to pay it over 36months if you want. The dude above implied that if you need a plan for a phone, then you shouldn't get it, but thats just silly, if it makes more sense financially, then why wouldn't you. You're actually saving money in some cases.

    Besides.. $24.5 for 60gb of data for a phone plan is pretty damn good.. I have 80gb and barely ever use over 10gb.

    • fungi79 on 23/12/2020 - 10:38

      I was only using the Telstra $89 plan as a comparison. It is a very popular deal but this Optus plan seems to work out even better.

      The $89 plan is a 12 month plan with the $700 iphone gift card being used as an enticement.

  • Flowerbomb on 22/12/2020 - 21:08
    +1

    I bought mine outright with discounted jbhifi vouchers and a $500 voucher from a Citibank credit card promotion. You could try something similar to that, there’s always credit card promotions. I avoid buying on credit and instalments to prevent overspending in the long term.

    • fungi79 on 23/12/2020 - 10:33

      I can buy it outright, but this Optus plan gives me the option of paying the phone over 12, 24, or 36 mths with no interest. I am looking at the opportunity cost of money, if I spent $1428 today, then I miss out on being able to spend this money on something that will generate an income eg. bank interest, side hustle etc, or to offset a home loan.

      I have confirmed that I can also cancel the $24.50 / mth plan whenever I want, so I can potentially look for a cheaper sim deal.

  • Quantumcat on 23/12/2020 - 08:16
    +1

    Make sure your phone is covered by insurance and you use a drop-proof cover

    • fungi79 on 23/12/2020 - 10:26

      Definitely will!

  • [Deactivated] on 23/12/2020 - 13:28

    its a phone lol, heaven help some people with big decisions

    • fungi79 on 23/12/2020 - 14:37

      What's wrong with asking for an opinion? We are all on this site to save some money. I mean, there is literally a forum here called "Find me a bargain".

      • [Deactivated] on 23/12/2020 - 16:02

        just get a iPod

  • usamamaqb on 25/12/2020 - 22:43

    Why don’t you get Harvey Norman

    $65 and $45 SIM Only plans with Gift Card Offer &
    Beats Headphones Gift With Purchase Offer to get

    $700 voucher to buy iPhone and beats headphone

    Or

    iPhone 12 Offer with bonus Apple AirPods (in store only):
    Customers who sign up to a new Optus $65 My Plan Plus 24 month SIM only plan in store at Harvey Norman, Domayne or Joyce Mayne during the offer period (subject to availability) will be eligible to purchase an iPhone 12 device and receive a device discount of $552 applied upfront to the cost of the device and will also be eligible to receive bonus Apple AirPods with charging case (2019) valued at $248. The eligible device must be purchased at the same time the plan is taken out. Limit of 1 per plan, max 5 per account. Not available to Optus TechFund and Fleet customers. This offer is not available with any other offers, unless specified. Min total plan cost of $1,560 over 24 months. Plan cancellation fees apply. Recontracts and rate plan changes are excluded. Offer available in store only, subject to availability (no rainchecks), offer ends 13 January 2021.

    https://www.harveynorman.com.au/optus-byo

  • life is suffering on 27/12/2020 - 12:46

    Can you cancel the phone plan with telco at any time?

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