Fido launching two-year device financing option in February

Fido is on track to be the first sub-brand to offer device financing

It looks like Fido is on the verge of dropping device financing to help customers better understand the charges on their bills.

Rogers, which owns Fido, has confirmed the news to MobileSyrup, but papers seen by iPhone in Canada detail how the financing will work.

The most interesting rule regarding Fido’s financing options is that it’s aiming to keep most options at $800 CAD or less. However, there will be exceptions to that rule for expensive phones and some promotions.

That means if a phone costs more than $800, users will need to pay an upfront cost to bring the overall cost before financing down to $800 before taxes.

No matter what, at the end of your two-year contract, you’ll own the device you’ve been paying for this whole time.

This $800 cap on financing is different than Rogers’. Fido’s parent company lets users finance the full price of a phone to make sure the upfront cost is always $0.

Bell, Rogers and Telus all offer users device financing options, but none of the flanker brands (Koodo, Fido and Virgin) offer financing yet.

The iPhone in Canada report mentions that Fido is launching this option on February 5th.

Fido has confirmed with MobileSyrup that it’s bringing device financing to its customers, but it hasn’t shared any other details.

Source: iPhone in Canada