Raylo phone leasing review

Raylo says it wants to revolutionise the mobile phone market with its mobile phone leasing service. Our review analyses what you get.

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What is Raylo?

Raylo is a mobile phone rental service that lets customers lease out the latest model mobile SIM-free phones. Raylo says its service is eco-friendly as it aims to reduce the number of phones that are left unused or thrown away.


Ditch expensive contracts and lease the latest phones

  • Upgrade your phone more regularly and more cheaply
  • Includes iPhone 12 Pro, XR & XS models
  • Free next-day delivery

How does Raylo work?

Raylo lets you lease out the latest phone models, so you don’t have to buy the phone outright or get into a traditional phone contract. The phone will be delivered unlocked and SIM-free, which means you can use it with whichever mobile tariff or plan you prefer.

You can choose a 12-month or 24-month lease, and your phone will be delivered the next working day. You’ll then pay a monthly rental fee to use the phone, and you’ll also get a warranty of up to 24 months. You can cancel within 30 days for free.

Once your lease ends, you can choose to do the following:

  • Trade in the phone and upgrade to a newer model
  • Keep leasing the same phone (or buy it)
  • Simply return the phone

If you want to keep leasing the same phone, you’ll simply be charged the same monthly subscription that you’re currently paying, and you are free to cancel at any time. If you want to buy the phone, you’ll need to pay a purchase fee, which is calculated based on the “Fair market price” of the device at the time of the purchase.

For example, after renting an iPhone 11 Pro for 36 months, you would need to pay £368 to keep the phone, or whatever Raylo calculates is the fair market price of the device at that time.

Raylo will also refurbish any returned phones and lease them out to a new customer, potentially reducing the number of phones that are sent to landfill.

Is Raylo any good?

Raylo could be a good option for anyone who likes to upgrade their phones regularly but wants to avoid getting locked into expensive phone contracts or having to fork out to buy their new phone outright.

How much does it cost?

Raylo phone leases range from £14.99 to £48.99 per month, with no upfront fees. You can also get optional insurance on the phone from £6.99 to £9.99 per month, depending on the model.

It claims to offer the latest phone models for cheaper than it would be to buy them through a regular mobile phone provider or if you were to buy the phone outright.

For example, it may cost £89 per month to get an iPhone Pro 11 on a Three mobile plan with unlimited data. In comparison, you can rent an iPhone Pro 11 through Raylo for £33.99 per month and then pay £14 per month for the same SIM-only Three contract, which means you could save around £41 per month.

Of course, in the first example, you’ll get to keep the iPhone at the end of your Three contract, whereas you’ll have to return it if you choose to lease it through Raylo.

What phones does Raylo offer?

Raylo currently lets you lease the following phone models:

Phone modelTypeTermDeliveryWarranty
iPhone 12New12- or 24-month leaseFree next-day delivery24 months
iPhone 12 ProNew12- or 24-month leaseFree next-day delivery24 months
iPhone XRCertified Refurbished12- or 24-month leaseFree next-day delivery24 months
iPhone XSCertified Refurbished12- or 24-month leaseFree next-day delivery24 months
iPhone 11New12- or 24-month leaseFree next-day delivery24 months
iPhone 11 ProNew12- or 24-month leaseFree next-day delivery24 months
iPhone 11 Pro MaxNew12- or 24-month leaseFree next-day delivery24 months
iPhone XCertified Refurbished12- or 24-month leaseFree next-day delivery24 months
Samsung Galaxy S20New12- or 24-month leaseFree next-day delivery24 months
Samsung Galaxy Note20 5GNew12- or 24-month leaseFree next-day delivery24 months

What extras does Raylo offer?

Raylo is a relatively straightforward phone leasing company, which means it doesn’t offer much in the way of extras, and the range of phones on offer is not huge. But if you want additional peace of mind, you can choose to take out optional AXA insurance through Raylo, which covers you against loss, theft and damage, or you can use your own insurance policy.

All Raylo phone leases come with a 12- or 24-month warranty that covers technical or hardware faults as well as a 30-day money back guarantee.

Raylo customer reviews

Raylo currently has positive reviews from customers, according to sites like Trustpilot and Google reviews. Many users on these platforms have praised its customer service and straightforward delivery process as well as its value for money compared with regular phone contracts.

Trustpilot Google


4.9 out of 5
Based on 534 reviews (updated )


4.2 out of 5
Based on 20 reviews (updated )

Pros and cons


  • Cheaper than buying outright
  • Can be used with any mobile contract
  • Potentially eco-friendly business model


  • Only offered on 12- or 24-month minimum lease
  • You’ll need to return the phone at the end of the lease

Our verdict

Raylo says it’s looking to bring sustainability to the mobile phone market by encouraging customers to lease the latest phones, instead of discarding their old ones. While it’s still not necessarily cheap to lease the latest phone through Raylo, it’s a lot more affordable than being locked into expensive handset contracts or having to buy a new phone outright, and it leaves you free to upgrade to the latest model when your lease ends.

This could make it a good choice for anyone who loves having the latest iPhone or Samsung tech and often finds themselves throwing away their old phones. In comparison, those who like to keep the same phone for more than a year or two may find it more cost-effective just to buy their phone outright.

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Written by


Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio

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