What is the difference in Lease an 2year agreement?

Getting the iPhone 6 and need to know the difference. Thanks in advance.What is the difference in Lease an 2year agreement

Just like a car. You must be looking at the iPhone for Life package. Been thinking about it myself. In a contract, after 24 months of payments, the phone is your's. You own it. With a lease (or iPhone for life plan) when the 24 payments are up, you hand the phone back in and they give you a new one to lease. You don't own it. You just borrowed it. If you do lease I'd suggest you take out insurance as any loss/theft/damage is going to come out of your pocket as technically you're borrowing Sprint's phone for 2 years. Best luck.

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