Buying A New Phone? Monzi Explores Your Options Today

In the market for a new phone? Monzi’s here to explore your options. From buying outright to buy now pay later interest free services, we’ll investigate the many ways that you could cover the cost of your new phone. Read on to learn more. Need a personal loan? Apply with Monzi from $300 to $10,000 today.

Buying a new phone: where do I start?

Have you tried to live without a phone? It’s almost impossible. In the modern world, we are so reliant on our mobile phones for directions, communication, entertainment and much more.

While phones have undoubtedly made things easier and more convenient, they do have a nasty habit of breaking down at the worst possible time. Worst of all, they’re expensive too. As a result, you may be searching online, trying to find out how you can buy a new phone ASAP.

Luckily, that’s what Monzi’s here to explore. Through our guide to buying a new phone, we’ll cover all the options that may be available to you. Moreover, we’ll look at phone plans, contracts and much more. Let’s go.

I need to buy a new phone: what are my options?

There are a number of different ways that you can buy a new phone. As a result, you must consider the pros and cons of each to determine which is suitable for you. To get you started, see below for Monzi’s quick outline of your options:

Buy a mobile phone outright

The first and most simple option is to buy your phone outright. In other words, you pay cash out of your savings and in return get a shiny new phone. From there, you can contact a mobile service provider to set up a plan. This option is undoubtedly the easiest, however, paying cash upfront can be a significant financial commitment.

Buy now pay later mobile phones

The next option you may consider is using buy now pay later companies such as Afterpay. Similar to buying outright, you can purchase your new phone today and begin using it. However, your costs are divided into a series of regular, interest-free instalments over the coming months. As a result, it allows you to spread the costs out. For many people, this will be a much more manageable option than simply paying the full price upfront.

Rent to own phones

Renting to buy or renting to own a mobile phone is another common option. In short, you can rent a phone for a monthly fee. Usually, you will be locked into a fixed-term contract (e.g. 12 months). Once this term has elapsed, you may be offered the option to purchase the phone outright for a small amount. While this allows you to avoid significant upfront costs, your total costs will almost certainly exceed those you would have incurred buying your phone outright or using buy now pay later companies.

Pay for your phone in instalments

If you’d prefer not to use buy now pay later services, you could borrow money via a personal loan to purchase your new phone. If approved, your cash is transferred to your account and you can go spend it on that brand new Galaxy or iPhone. From there, your lender will divide your costs into even repayments over terms ranging from months to year.

With this, it’s crucial to note that personal loans are not interest-free. Lenders will apply fees and interest charges, meaning this can be an expensive option as you will always repay more than you borrow. However, if you do opt to pay for your phone via a loan, apply with Monzi from $300 to $10,000 today. We could match you with a lender in no time.

New phone contract

Buying a phone on a contract is essentially the same as buying on credit. Typically, this is done through a mobile service provider. In short, you receive your new phone with a data plan included. In exchange, you must pay a monthly sum over a fixed period. Often this period will range from 12 to 24 months. While the benefits are that you avoid high upfront costs and don’t have to arrange a data plan, the downsides are that contracts can be expensive and are known for being inflexible.


Some retailers may offer layby options to help you purchase a new phone. Through these agreements, you can make payments towards your new phone over weeks or months. Once you have paid the full purchase price, you will then receive your new phone. As a result, it’s almost the opposite of buy now pay later.

Which phone should I buy?

These days, the smartphone market is dominated by a few major players. While they need no introduction, we’ll quickly examine each. However, remember that the phones listed below will all come in a range of different versions. So, do your research and compare the different models to find one that suits you.

  • Apple iPhone: let’s start with the big gun. Apple iPhones account for a little more than half of Australia’s smartphones and it’s not hard to see why. Reliable and easy-to-use, iPhones come with many benefits that make the perfect choice. As a guide, you can easily connect them to a range of Apple devices and even chat to other iPhone users for free via iMessage.
  • Samsung Galaxy: the iPhone’s main competitor is the Samsung Galaxy. While Apple vs Android is often a matter of personal preference, the Galaxy is known for its lasting battery and high-quality camera.
  • Google Pixel: this phone is similar to a Samsung Galaxy running on the Android operating system. With a sleek design and great camera, it could be an option worth considering if you’re after something different.

When should I buy a new phone?

We’ve all used an old phone at one time or another. As a result, you may be aware of some of the tell-tale signs that it’s time to upgrade your phone. As a guide, these signs include:

  • Short battery life: while a new phone might survive the day without dying, your battery will degrade over time. By the end of its life, you may find that it doesn’t last longer than an hour or two.
  • Frequently crashing: all you want to do is scroll Instagram or play your favourite game, but your phone can handle it and keeps crashing. That’s a clear sign that your phone isn’t up to it anymore.
  • Frustratingly slow: have you ever typed a message and had to wait for your phone to catch up? When this happens, replacing your phone might be necessary.
  • Low-quality pictures and videos: for most of us, our phones are our primary cameras. As a result, you want a quality camera to capture all of the best moments in life. If your old phone isn’t quite up to scratch, it may be time to look for a new one.
  • Cracks, scratches and dents: over time, your phone will probably begin to develop a few bumps and bruises. While you may be able to live with a cracked screen, if bits of glass start to fall out, it might be time to look into buying a new phone.

When’s the best time to buy a new phone?

When buying a new phone, you often don’t have the luxury of waiting until the perfect time. After all, if your phone dies, you must replace it ASAP. However, if you do have some flexibility and are looking to upgrade rather than replace, there are some times that are better than others to buy a new phone.

As with all products, aim to shop during the sales. While smartphones are rarely discounted, the Boxing Day or Black Friday Sales may allow you to save money on the cost of buying a phone outright.

In addition to this, keep an eye out for announcements of new phones. This is particularly pertinent to iPhones. When Apple announces their next new phone, it often results in the prices of existing models dropping before the new model goes on sale. As a result, if you’re not after the latest tech but instead want something reliable, you could score a great bargain on a slightly older model.

What should I look for in a new phone?

Smartphones come in a range of different shapes, sizes and forms. As a result, you may be wondering what you need to compare to find the right phone for your preferences. See below for some of the factors that may be useful when trying to decide which new phone to buy:


You need a phone that can handle everything that life throws at it. A few bumps or scratches shouldn’t be the end of it. Smartphones are notorious for being delicate and easily-broken. While you could invest in a sturdy case, some phones are definitely built tougher than others. As a result, if you live a rugged life, it’s usually best to find a phone that will hold up.

Camera quality

Let’s face it, nobody carries around a digital camera anymore. After all, these days, the camera in your smartphone is good enough to rival almost any camera on the market. So, if you intend to capture all your favourite memories on your phone, do your research. While it may not be a major selling point for everyone, the quality and features of the camera on a phone may be a handy tiebreaker if you’re stuck trying to make a decision.


The storage space on your phone will be directly tied to your cost. As a result, consider your needs. If you intend to simply use your phone for calls and texts, then you won’t need as much space as someone who plans to take thousands of pictures and videos. That said, it’s usually good to have more storage than less.


There is nothing more frustrating than an unreliable mobile phone battery. Realistically, you want it to last all day. You don’t want to have to find a charger every few hours. Battery life may be affected by how you use your phone as well as it’s make and model. If battery life is something you prioritise, do your research and compare the various options on the market.


What’s your budget? While we’d all love a top-of-the-range phone with all the best features, understand how much you can afford to spend. These days, there are smartphones available at a range of different price points. As a result, there should be an option that works for your budget. If you are unsure of how much you should spend, consider creating a budget using Moneysmart’s free online budget planner.


A slow phone can be incredibly frustrating. You might just want to play a game or send a text but your phone crashes whenever you try. That’s where performance is crucial. Phone processors are getting better and better. As a result, if you buy a new phone, you shouldn’t have too many issues. However, as the phone ages, it may slow down.


Some smartphones are compact and will fit in your pocket without an issue. Others are much bulkier but come with a bigger screen. Again, it’s a matter of personal taste. Consider what you prefer and then narrow down your options. In most cases, the bigger the phone, the higher the cost. However, this may vary based on make and model.

Can I get buy now pay later phones no credit checks?

In short, they may. If you’re searching for iPhone no credit checks Australia, services such as Afterpay may be able to assist.

In most cases, buy now pay later companies may run soft credit checks. These checks are designed to confirm your details when you sign up or before you complete a purchase. These checks usually won’t be recorded on your credit report, meaning they won’t affect your credit score.

That said, some providers do retain the right to conduct credit checks and this will be outlined in their terms and conditions. As a result, you must read them carefully. These services allow you to buy now under the agreement that you will make future payments, so your credit history can be important and may impact your eligibility. While you may believe you’re buying a phone with no credit check, it’s always best to confirm.

Who are the best buy now pay later companies for iPhones?

When you want a pay later iPhone, you’ll have to find a buy now pay later provider that can help. Luckily, these days, there is an abundance of these services, many of whom may allow you to purchase an iPhone or other smartphone and divide the costs into instalments.

As a guide, some of the most prominent Buy Now Pay Later companies include:

  • Afterpay
  • Bundll
  • Zip
  • Humm
  • Latitude Pay
  • OpenPay

So, do your research to determine if you can get an iPhone now and pay later with no credit check. Each company may vary in the products they offer and the terms they apply. So, keep this in mind before completing your purchase.

Where’s the cheapest place to buy an iPhone?

It doesn’t matter what you are buying, if you’re after the best price, you must shop around. After all, if you only visit one shop or retailer, you have no idea what you could be missing out on elsewhere.

Given this, when you want to buy a cheap new phone online or in-store, set aside some time to research your options. If you have an exact model in mind, check the price at one store compared to another. If you’re not sure which phone you want, then you may factor the price into this comparison.

Ultimately, nobody wants to spend more than they have to. By casting your net far and wide, you may score a bargain. You could get a new phone and keep a little extra cash in your pocket. All you need is find out what’s on offer.

Using an iPhone to search for buying a new phone

Buying phone outright vs plan: which is better?

Buying a mobile outright or via buy now pay later is usually easier and more flexible than a plan. However, the cost upfront is much higher, given that you must pay the full cost when you purchase the phone. As a result, if your budget is tight, a plan may make things more manageable for you, while also saving the hassle of having to find a suitable prepaid or postpaid mobile package.

That said, the downside of a plan is that you are usually locked in. If you agree to a 24-month plan, your only way to escape may be to pay high termination fees or the remaining repayments on your phone. In addition to this, once you add up the costs over time, it will usually be more expensive than buying outright.

Given this, while both a fixed new phone contract and buying outright will have their benefits, it may depend on your financial situation and what you can afford to outlay. As a result, it’s up to you to determine which is best. With this, keep in mind that buy now pay later iPhones may be available which can help smooth the cost of buying outright.

Prepaid vs postpaid: which should I pick?

First things first, allow us to explain the difference.

Ultimately, The key distinction boils down to when you pay.

With a prepaid mobile plan, you pay upfront. This then allows you to unlock credit which you can use to make calls, send texts or use mobile data. This credit will either run out or expire after a set time (e.g. 30 days), at which point you must recharge.

On the other hand, a postpaid mobile phone plan means that you get a bill at the end of each month, based on your usage. Usually, a postpaid plan comes with some inclusions (e.g. talk and text) and you’ll pay a fixed sum each month. However, you may encounter additional charges if you use excess data or make too many calls.

Given this, you must decide which option is better for you. A prepaid plan allows you to pay as you go and recharge when you need. That way, it can be more flexible. However, postpaid plans may provide greater certainty and an easily understood monthly billing cycle.

Can I get a phone contract with bad credit?

Yes, it is possible.

The easiest way is to purchase a phone outright and buy a prepaid sim. With a prepaid sim, you must make your payment before you can access the features of your plan. In other words, you have to buy phone credit. As a result, credit checks aren’t necessary because service providers don’t face any kind of liability.

On the other hand, if you would like a postpaid plan or want to buy a phone via a contract, bad credit may become an issue. If you agree to a phone contract, you are essentially buying a phone on credit. Your provider is supplying a phone based on the agreement that you will repay it over the coming 12, 24 or 36 months. With this, credit checks become much more important. As a result, no credit check mobile contracts may be difficult to find.

In addition to this, if you have payments outstanding that are overdue or serious credit infringements listed on your report, you may not be offered a phone contract with bad credit.

What does unlocked mean when buying a phone?

That’s easy.

An unlocked phone is one that is not tied to a specific service provider. In other words, if you buy your phone outright from a retailer without a plan, it will be unlocked. From there, you have the freedom to select the mobile plan that best fits your needs. So, think about whether you’d prefer prepaid or postpaid, how much data you will use and other perks (e.g. overseas calls). These factors will directly impact your costs.

To buy an unlocked iPhone or another smartphone, you have a few options. Firstly, you can pay cash upfront and buy the phone outright. You may always get a buy now pay later mobile phone through companies such as Afterpay. Finally, you could apply for a fast cash online and borrow the money you need to complete the purchase.

If you opt for a contract, then your phone will not be unlocked. Instead, it will be tied to the service provider you acquired the phone from.

Can I rent a phone with no credit check?

Yes, this may be possible.

Some companies allow you to rent mobile phones, laptops or other appliances. In some cases, these will be rent to own mobile phone agreements. In other words, once your rental period ends, you may be able to buy the item outright for a small fee.

With this, you may rent to buy a mobile phone with no credit check. As you are not borrowing money or purchasing a phone on credit, your past history may not be relevant. That said, if you decide to rent an iPhone, confirm this with your rental agency. Policies may vary based on the company you are dealing with.

Can Monzi help me buy a new phone?

While we cannot offer a buy now pay later service or a phone contract, Monzi can still help you. In short, we’re a lender-finder service for Aussies. That means that if you would like to borrow money online, we can potentially connect you with lenders offering instant loans online from $300 to $10,000.

With Monzi, all you need to do is submit one application. From there, we’ll scan our extensive lender-network to hopefully find one that’s willing to consider you. While we won’t fund your loan directly, we can potentially save you the time and hassle of finding a lender yourself.

Finally, and best of all, you can use cash loans to cover a vast array of personal expenses. As a result, if you’re approved, you may use your loan to buy a new phone outright. It doesn’t matter whether it’s an iPhone or a Samsung. Just remember that lenders will charge fees and interest on any money you borrow.

Do Monzi’s lenders offer cash for a new phone with no credit checks?

While it’s common to search for phone plans with no credit check, you may also be wondering whether it’s possible to get a loan with no credit check to buy a new phone.

With this, the answer is that it might be possible. For most lenders, credit checks are necessary if you would like to borrow money. After all, they want to understand your history as a borrower. However, in some circumstances, lenders may bypass credit checks. Although this will only be at their discretion.

So, remember that if you do apply with Monzi, we cannot guarantee if you will be matched with a lender offering online loans with no credit check. Your lender will conduct a loan assessment before providing you with an outcome. In most cases, credit checks will be unavoidable.

Can I get a loan to pay later with bad credit?

Yes, you may.

While loans with no credit checks are often hard to come by, bad credit loans aren’t nearly as rare as they used to be. At Monzi, we know many lenders who are willing to consider applicants with subpar credit.

These understand credit providers know that your credit score doesn’t tell the full story. While it does reflect your past, your situation may be different today. As a result, they will assess your past 90 days of bank statements to get an idea of your current budget.

While approval is not guaranteed, it may be possible to get a loan for a new phone even with bad credit. However, you must show that you are earning a consistent income and are managing your budget well.

How do I apply for a new phone loan?

If you’d like to buy the latest Samsung Galaxy outright but don’t quite have the necessary cash-on-hand, Monzi might be able to help. In short, we may put you in touch with lenders offering quick loans from $300 to $10,000.

To apply, all you need to do is:

  1. Select a suitable loan and repayment term using the loan slider at the top of the page. However, note that loans under $2,000 are repaid over 12 months.
  2. Next, provide the necessary details to complete your online application.
  3. Allow Monzi to take the lead. Once we receive your application, we’ll aim to pair you with an available lender from our network.
  4. You’ll receive an outcome via text or email. If successful, your lender will contact you to begin the assessment process.

Ultimately, with Monzi, it’s easy. Apply today and, if approved, you could buy your new device before you know it. Just keep in mind that you must repay any money you borrow via a series of even weekly, fortnightly or monthly instalments.

Contact us

Wondering whether Monzi is right for you?

If you’ve got any questions or concerns, we’d love to hear from you. Contact us at now. Our friendly customer service team will do their best to get back to you ASAP with a response addressing any queries you might have.

That said, remember that Monzi is only a lender-finder. Therefore, if you need a cash loan to buy a new phone, we might be able to put you in touch with a lender today. However, if you’re after phone plans or other accessories, you may need to look elsewhere.

Buy a new phone today: Monzi’s here to help

Monzi’s lender-finder makes it easy to find lenders online offering cash loans from $300 to $10,000. As a result, if you must buy a new phone today, we may be able to help you access fast easy cash loans for new technology.

So, apply today. Scroll up to Monzi’s loan slider or hit ‘Apply Now.’ In the modern world, living without a phone is nearly impossible. A fast cash loan may be one way that you can get the cash you need. However, consider the costs as well as the alternatives we’ve outlined earlier before applying.

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Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.