Can you get a new iPhone on a $50 per month plan?

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I am looking to switch phone carriers but it is impossible to get an iPhone 5 (or newer) on a $50 per month plan. Most other companies require you to either buy the phone outright or sign up for a minimum $70 per month plan.
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Christina Ross

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Posted 5 years ago

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Paul Deschamps, Mobile Master

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You can get any iPhone you want on a $50 plan and you'll be able to put up to $300 of the price of the phone on the medium tab, then you just pay the rest. The medium tab has a $5 tab charge that will be added to your bill each month for the next 24 months or until the tab is paid off whichever comes sooner.
The medium tab can be used on plans of $30 or more so you could do the same thing on even a $30 plan if available.
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Hi Christina,
You will be able to purchase an iPhone from Koodo on a $50 plan, however, you will find that it will cost you more for the phone than from the other carriers that require you to purchase a $70/mo plan. Typically, those other carriers will charge you $230 to buy the phone with a minimum $70 plan.
At Koodo, if you take a $50 plan, then you can purchase a 5S for $575 (with a Tab S), or $475 (with a Tab M).

It's really a trade-off. Either you pay a smaller upfront cost for the phone with a higher monthly plan -OR- you pay a higher upfront cost for the phone with a smaller monthly plan.
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Setting aside those who are cash-strapped enough that covering the full cost of an iPhone isn't an option, it is worthwhile to first figure out what plan best matches your needs, then check out the cost both ways. Assuming the $50 plan and a basic 16GB iPhone 5s:

With the $300 medium tab, 15% of your $50 goes to the Tab, and you pay a $5 extra tab charge. 24 months exactly wipes out the tab, so your 24-month cost is $1745 (24*$55 + $425). Or you could buy the phone from Apple ($719) and take the 10% discount on the plan ($45/month) for providing your own phone (no Tab). 24 months like that comes to $1799. Basically, Koodo is giving a $50 Medium Tab customer $2.50/month (or more likely, hosing BYOD people by that much).

So buying the iPhone yourself costs only $54 more than the medium Tab, and in return you get an unlocked phone (no $50 fee to Koodo to unlock), can switch carriers at will, go Prepaid if you want, and use cheaper local SIMS in the US and internationally if you want. There's no free lunch!
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Paul Deschamps, Mobile Master

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This question has already been answered and marked as such, for future reference there's no need to add to questions that have been marked answered.

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