Introduction
Koodo, a subsidiary of Telus, has recently introduced a 36-month device financing plan through a partnership with U.S.-based telecom financing company Glow. This article provides a comprehensive guide to understanding the new Koodo Financing powered by Glow service.
Overview of Koodo Financing powered by Glow
Koodo Financing powered by Glow is a device financing option available to new and existing Koodo customers. It is offered alongside the existing Koodo Tab system when selecting a device on the provider’s website. The service is managed by Glow Financial Services, with Koodo continuing to provide and support wireless services.
How Koodo Financing powered by Glow Works
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. The financing is split over 36 months with no down payment, and the APR can be as low as 0.99% (depending on the results of a credit check). Customers are responsible for paying a $25 shipping charge and taxes on the full device price.
Key Differences from Other Carriers
Koodo’s 36-month financing plan is a departure from the 24-month terms offered by other Canadian carriers. The CRTC previously ruled that longer financing terms violate the Wireless Code, but carriers like Bell have found creative loopholes to circumvent this restriction. Koodo, however, has chosen to offer a 36-month plan through its partnership with Glow.
Customer Considerations
Customers must have a Koodo wireless plan to use the financing, and there are no details provided on whether financing can be maintained if the wireless service is canceled. Koodo’s support page notes that the payment status of one does not impact the other, suggesting that customers could potentially keep financing a device if they cancel their wireless service.
Conclusion
Koodo’s introduction of a 36-month device financing plan through Glow represents a significant change in the Canadian wireless market. While the service offers flexibility and lower APRs, customers must have a Koodo wireless plan to use the financing, and there are no details provided on the implications of canceling wireless services. This article provides a comprehensive overview of the Koodo Financing powered by Glow service, highlighting its unique features and potential implications for customers.
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