Sprint is running a flash sale on the iPhone 7. Subscribers can get the device for just $7/month on a Sprint Flex lease. This isn't the first time Sprint has had such an offer available. The iPhone 8 was previously available on a lease for $8/month. The iPhone X was available for $5/month however to get that rate a trade in was required.
The Sprint Flex lease program allows customers to lease a phone for as long as desired. After 12 months subscribers can upgrade to the latest model. After 18 months customers can choose to own the phone by paying one lump sum payment or by paying the remaining balance over 6 months. If after 18 months you're not sure if you want to buy the phone you can continue to lease it.
The iPhone 7 for $7/month offer will only be available until 8/30/2018 or while supplies last. It may make a good pairing with the $25/month Unlimited Kickback LTE data plan that Sprint also just announced as a flash sale.