Is it cheaper to buy an iphone 5 out right or do a monthly plan in perth?

I want to buy an Iphone 5 just broke my 4S but is it cheaper not to buy the phone out right and just go on a monthly plan to pay it off i 24 months or whatever it is or just buy it out right?

Over the 24 months you will pay much more than the cost of the phone itself. Interest is always included in the plan. However with the plan you will get the phone at a discount, possibly even free.

If you have the funds to buy it outright, do that. You have the added benefit of not being locked into a contract, so if a better plan comes along you can pick it up without issue.