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MANHATTAN (PIX11) — In a major ad campaign that kicked off this month, T-Mobile claims “your dreams of owning the iPhone 5 are now a reality,” because anyone can get the latest iPhone with only $99 down.  What’s even better?  The company is getting rid of contracts (!) which means, say experts, it is offering the latest and greatest smartphones for a lot less than any other carrier.

T-Mobile’s Vice President Terry Hayes told PIX 11, “You do have to pay $20 a month thereafter but it is interest-free and you can pay it off anytime you’d like.. in the end you’re still saving hundreds of dollars over any other carrier.”

Consumer Reports Senior Editor Mike Gikas agrees the deal is real and T-Mobile could become a trend-setter in the industry.  “You’re going to be paying off that iPhone 5 for another $20 a month for 24 months but, unlike with other carriers, when you’re done paying it off, your bill is going to go down,” adding, “hopefully other carriers will follow in T-Mobile’s footsteps that is by lowering the cost of a getting a top dollar phone and getting rid of contracts.”

Consumers hate contracts.  They hate being locked in,” said Hayes, adding, “They want to be able to choose who they do business with every day, plus, they want to save money in this economy.”

TREND TIP:  For all of those Droid lovers out there, do not feel left out!  Under the new T-Mobile plans, you can get a Samsung Galaxy 3 for $69 down (and no contract).  And the company just announced a deal on the Samsung Galaxy 4 that will be available for $150 down which retails at around $600 (and again, no contract).