Telus flanker brand Koodo is finally launching device financing, though the wireless provider is taking a slightly different approach compared to other Canadian carriers.
Instead of offering its own service, Koodo is partnering with U.S.-based telecom financing company Glow to offer device financing to new and existing Koodo customers.
“When you choose Koodo Financing powered by Glow, you enter into a loan agreement with Glow Financial Services for the cost of your eligible device. Glow manages your loan agreement and loan payments while Koodo continues to provide and support your wireless service,” reads a support page about the new service.
Koodo Financing powered by Glow now appears alongside Koodo’s existing Tab system when you select a device on the provider’s website.
Notably, Glow financing is only available online, and simply splits the cost of a device over 36 months with no down payment at an APR as low as 0.99 per cent (depending on the results of a credit check). Customers do still have to pay some costs up front, including a $25 shipping charge and taxes on the full device price.
That 36-month term is notable, especially since it seems to be the only option Glow offers. It also appears to violate rules limiting financing to 24-month terms — MobileSyrup asked Koodo about this, but the provider did not answer prior to publication, though the company’s support page might hold the answer.
That page explains that the Glow financing is separate from your Koodo wireless service. That means customers who go this route will receive two monthly bills — one from Koodo, and one from Glow. Further, Koodo notes that the payment status of one doesn’t impact the other, though Koodo’s website doesn’t allow customers to sign up for Glow without also getting a wireless plan. In other words, customers aren’t financing through Koodo, and therefore it technically doesn’t need to apply to carrier financing rules.
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