One of the downsides of owning a cell phone has now been eliminated, at least for Vodafone customers in the U.K. Vodafone Red Hot is a new service that allows customers to lease their iPhones. As a result, they can have a new model each year, according to Pocket-Lint.com.

The new service guarantees that you’ll always have the hottest smartphone in your pocket. For as little as £47/$74 a month on a 12-month plan, customers get unlimited calls and text, 2GB of Internet, and insurance on your handset. Like other lease plans, at the end of the year, the phone must be returned. Best of all, Vodafone Red Hot includes only minimum upfront costs.

Currently, Vodafone is offering the iPhone 5, Samsung Galaxy S III, and Samsung Galaxy Note 2 on Red Hot plans. The iPhone 5 will cost from £59/$94 per month, the SGS3 from £47/$74, and the Note 2 from £52/$82.

Vodafone Red Hot Plans

Vodafone Red Hot Plans

The main drawback? Like other lease plans, if you damage the phone or lose it, additional expenses can be incurred.

Nonetheless, this sounds like a pretty good deal. Still, I won’t be holding my breath that AT&T or Verizon Wireless will be offering a similar plan in the U.S. anytime soon.

For more information on Vodafone Red Hot, click here.

Source: Pocket-Lint.com