Motorola has started offering a new interest free financing option for its Moto X smartphone over in the US.
The Motorola Moto X has won a lot of praise over in America for its fresh approach to a number of smartphone design and interface issues, but it seems the company is also keen to overhaul the way we pay for our phones.
Motorola calls the scheme Motorola money, and it involves purchasing the Moto X outright on a monthly basis with no initial fee. What’s more, if you pay the $549 balance off within 6, 12 or 18 months, you won’t have to pay any interest.
You might think that this sounds like a mobile contract, but you can be sure that any mobile network will take its fair slice of a monthly agreement.
Of course, if you do exceed this payment period you’ll be in for some hefty additional charges, with an APR of 28.99 percent. Ouch.
This financing deal is obviously subject to credit checks, as it’s actually a deal between Motorola and Comenity Capital Bank.
With the Motorola Moto G now wowing UK customers (it gained a rare 10 out of 10 in our recent review), it’s worth pondering whether a similar financing deal could be established here.
Of course, with a starting price of less than £150, this budget alternative might not have people clambering for a line of credit in quite the same way as the Moto X. But then, every little helps.
Apple already runs its own financing options, but it’ll be interesting to see if this method takes off with other Android manufacturers.
Next, read our Nexus 5 review