Free Your Phone gives eligible customers access to up to $1,000 in 0% APR financing through PayPal to pay off an existing phone and switch carriers. Getting a $1,000 cash loan can be difficult, and a loan at 20% APR would cost roughly $112 in interest over 12 months when repaid in equal installments. US Mobile is absorbing the financing costs, so customers can switch without that interest expense. Financing subject to eligibility and approval.
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