Basically, the one-cent iPhone is Boost Mobile's way of reeling you into a three-year agreement. The wireless plan that you have to sign up for, which gets more expensive as you pick a more premium iPhone 15 model, is how the carrier makes its money back.
If you ever opt out of the contract, you'll have to pay off the rest of the iPhone. Conversely, once you get through the three-year term, you can always resell the iPhone and get some money back.
These qualifications shouldn't surprise you, especially if you've purchased a phone from a carrier before. If you're already under a monthly data plan that costs roughly the same, your existing handset has been paid off, and you're ready to try a new mobile service, this deal is not as bad as it seems.
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