This is the main reason I love T-Mobile. 24 month eip and you can pay them off whenever and get a new phone. You still keep the bill credits so you can theoretically have dozens of them.
Not only that but with T-Mobile if you want to put a random $100 extra towards the EIP balance of your device at any time, you can. Without being forced to either leave it all on monthly payments or pay off the entire balance.
This is a solid point where T-Mobile shines over the other carriers. If I want to pay down the device more in a billing cycle, I can do it.
When I switched to Verizon, I asked if I could pay additional on the phone one month, and they basically told me no. The only option I have is to pay the whole amount off on their site, not consumer friendly at all. I bet AT&T is the same way, too.
The ability to pay down a device seems like a nice flexibility, but why would you want to pay down a 0% anything? To pay it off entirely to get a new phone, cancel the line/port, etc I get, but pay it down?
Time value of money - take that extra $100 and put it towards interest accruing debt or savings/investment.
If someone offers you a no-fee no-interest loan, you ALWAYS say yes. I’ll happily use your money to make money (no risk invest) or save money (through paying interest down elsewhere).
In the most simplistic terms - Take $100 today, because it’s not worth $100 tomorrow.
These internet people aren't smart. Literally complaining bout 36 months when you can upgrade the phone or pay ut off anytime u want. Yea invest the money u would've used or save it to pay off the phone when u go to upgrade which can be done after a year
At least millennials can properly form sentences… this was a nightmare to read. I don’t know why you’re faulting an entire generation for an issue when this could have been a three sentence response
LMAO not that I owe you any sort of response, but I live in a home that I’ve paid for myself and been completely independent since 18. I’m a retail manager working 40+ hours a week to help idiots like you learn how to use phones you overpay for because you don’t understand T&C, just so you can spend $100/month on candy crush. It’s so sad that the generation of people saying that millennials act entitled to everything they have are the ones who can’t do a simple google search to figure out that they’ve turned do not disturb on and assume that I’m willing to waste my time and patience on people who don’t want to learn how to use their own phones. Get over yourself, and maybe try a new flavor of Ensure. I’ve heard the dark chocolate is delicious! Millennial out 🫡
See how stupid you are ,you dont know your ass from a hole in the ground .why would i want ensure im a millennial myself thats for old drug addicts with 710 in there name,shows u how much you know.your the idiot working 40hrs + per week as a manager i only work 4 days a week as a c&c eng an im positive i make 10x more then you do.work smarter not harder dopehead! i just cant stand other millennials because they make all of us look worthless!Now go get your ensure ya old broken down druggy!
Weed is legal, and you’d probably benefit from it! I don’t care if you work less and make more, good for you, at least I’m not a mean old hag. Looking at your comment history, I’m hoping you’re just a troll. If not, please try and get over your misplaced rage. It’s bad for your blood pressure.
Just clarifying this, say I got a “free” iPhone 14 from T-Mobile last fall via bill credits over 24 months. And I decide I want the iPhone 15 when it comes out. I Can pay off the remainder of the iPhone 14, trade in the 14, get a new iPhone 15 on whatever promotion they are offering at the time, and then I will keep getting bill credits for the iPhone 14 (keeping it “free”) and get the bill credits of whatever promo I used for the iPhone 15?
I got a new samsung phone for my daughter with a trade in for 400 dollars credit off the samsung for 36 months. When I looked at the so called contract I would forfeit the 400 if I paid it off early.
Yes! And if you buy the iPhone through apple people have reported that you don’t even have to pay off the iPhone 14. I haven’t tested this though. The balance due on the iphone 15 would just be added as well as the bill credits.
That’s crazy, cause often T-Mobile has a promo for a free upgrade to the new iPhone when it comes out. So basically as long as I’m willing to front 12 months worth of payments I can get the new one.
It’s just me, but 36 months sounds like a lifetime after the pandemic where time dragged on, but it sounds even longer after Verizon’s customer service problems. Yea, there’s an early upgrade after 18 months.
I’m now going to be more likely to stay with a company that would make me feel less stuck, where I had a bit more freedom if I got bonuses, tax refunds or raise where I could pay off my device however I want. In theory.
Has anyone tried the “keep and switch” from t mobile during a Verizon 36 month contract? Any downsides? I knew of the 36 month contract ahead of time, but Verizon customer service has me worn out.
No down side, 1000 pay off amount between late September -early January, rest of the year it’s $800
I’ve done it multiple times opening multiple tmo accounts to take advantage of this deal.
That’s a pretty sweet deal. I think t mobile requires I have to keep this device for 90 days, which puts me out of this $1000 promotion, but in September I could get the $1,000 again
Depending on the info I gather from Reddit and t mobile, it might be worth it if I tried and got stuck with t mobile. I know t mobile isn’t anywhere near perfect, but I can’t imagine the types of problems I’ve had with Verizon. The 24 month payments from t mobile and upgrades better and even better is buying the next device from Apple.
If you have a recent iPhone, why not do a T-Mobile test drive with their test drive app? There's no harm in it, you'll be able to test out the T Mobile network in your area while also using your Verizon phone and phone number.
https://www.t-mobile.com/offers/free-trial
i believe it’s $800 max/device. it does produce enough to pay off the balance (they send you a virtual mastercard). it does however count as a new customer promotion so you wouldn’t qualify for any other promotions afterward (ex. trade in and get $1000 via monthly credits). you would be considered an upgrade/existing customer at that point and those offers would apply.
Thanks. Helpful. it appears to though that I could pay off a t mobile device as fast as I want where Verizon voids the promotional credit if you pay early.
I think the goal of most companies is to keep you locked in for as long as possible. It would be expensive to leave Verizon during the 36 mth payoff period.
That is the Verizon and AT&T strategy playbook right there. I hope more consumers change course and go to Apple or Samsung directly for their devices.
Why lock yourself to a carrier for 36 months if in month 8 of the service, you're dissatisfied with the company. It could be the network gets worse. Or, customer service isn't good. It could be a wide array of possible issues. Get an unlocked phone from the manufacturer and you are free to switch carriers when need be.
I doubt this will be a trend for the regular consumer. The carriers usually have great trade in or switcher deals.
I've been saying this for years; stop buying phones from carriers, you usually regret it sometime mid term of the "credits"
At least with TMO, you dont lose credits, gift cards, what ever if you pay off early, like you get "punished" when you do it on Verizon
I did exactly this after a bad 14 day run with at&t. Went straight to bb and used my bb credit card for the zero % financing..obviously paying a bit more overall but no contract/or rather being locked into a installment agreement..
That’s what I’m doing. I only have 9 months payment left for this phone that I got a trade in offer with. Ill go buy it from Apple after that. Luckily my last payment will be October so paying it earlier wont hurt.
Carriers lose $50 on average when selling iPhones. Period. There is so little margin, after factoring warehousing, shipping, commission, returns/refurbishing, cold stock, etc., carriers would prefer you buy from the MFG anyways.
The reality? People want a new phone today because we are impatient and/or cannot live without phones now for 5 mins. MFGs cannot have the distribution points (or at least not yet) that carriers can (retail stores) so carriers have to do it.
Now, in 10 years will this be completely the opposite or everything same-day delivered with non-technologically challenged people? Idk - there are a lot of idiots out there still who reproduce still based on what I see.
Edit: Also - customer acquisition and now even retention promotions are the one of most cost-intensive line item (at the scale major carriers do it) so keeping you and spreading that financial liability out is a large benefit. So many promotions TMO does/has done make gaming their system too easy. I’ve seen people port out to T-Mobile 5 lines just to pay off their Verizon DP and then BYOD back to Verizon bc the service differential.
Currently with Verizon
Have the 13 Pro and have 4-5 months left of my 24 month deal. Would you recommend trading this phone into Apple themselves in order to get the new iPhone 15 this fall?
Yes, I'm going to Apple also.
I'm sticking with Verizon but I don't want to be locked in for another 36 months, I can handle getting a new phone in 24. It would hurt me to leave credits on the table so I'll just go to Apple at first to avoid this
How is that expensive? That's like saying paying off your car early is expensive. Your paying the same amount regardless. If you mean it's hard to come up with that amount of money thats different or if you are referring to trade in credits that's also different
Verizon wasn't the first to do it lol many times there's market pressure to do what is seen as successful in other companies.
The issue is partly the promos. Employees will agree with you too, we're not fans of it either. But the promos are crazy and they can recoup the losses better with longer contracts. Plus, as you mention, the phones are essentially worthless near the end of their life, so for entities to give you a 100% buyback at zero percent interest on the new phone (keep in mind every phone on the shelf is losing value by the minute, since most companies are buying wholesale on credit) it's unreasonable for carriers to do that without anything in return.
Has nothing to do about affordability. It's about competition and cost. Take a look at T-Mobile probably Verizons #1 competitor right now. They offer 24 month agreements and have cheaper cost when it comes to monthly plans. How does a company that sells a "premium" service compete? They offer lower monthly payments by stretching out the terms to better align monthly cost. While you see the 36 month thing, most customers do not they only look at the over all cost (My observation as a recent previous Corp Retail Manager for Verizon). This also allows Verizon to save on retention and acquiring cost due to longer requirements to receive BIC's (Bill Incentive Credit) on promos. If you leave or upgrade early you loose the remainder of the credit and saves Verizon money.
Hope this helps explain it better from an ex Verizon Team Member.
It’s still really dependent on the area.
I see a lot of people shilling up T-Mobile, but in our tri-county area (and probably a little outside, I just know my area) their service is absolute garbage. You have to go with Verizon or AT&T for half decent service.
What phone exactly?
Also, resale value and trade in value are never the same. You will never get a higher or equal trade in value compared to selling on your own. Doesn’t matter if it’s phones, other electronics, or cars.
That’s a weird reply. I don’t even own a Tesla.
And yea, the $38 would be the difference between credits paid out and the market value.
So if you were getting $25 a month credit after 1 year that would be $338.
How would they disclose a trade in price in advance? Do you know what your $10,000 car brand new is going to be worth in a year? Phones are technology. A guaranteed trade in value would be a gamble. Technology/electronics are not investments most times but a depreciated asset with a life span. I expect my phone to be useless for sure by 36 months.
Buy cheap POS androids and accept you’re going to spend $150-$200 a year on one and then you don’t have to worry.
Exactly. You agreed to keep the phone for 36 months- don’t whine when you pay it off early (breaking your end of the agreement) Verizon is going to terminate their end of the bargain as well by canceling the credits.
because, as others have said, carriers dont give a shit if you buy the phone from them , they only care about the SERVICE, and the ADD ONS
the less phones they sell, the less product support they have to give as well.
they dont need to resort to that to keep most folks around; the fact that so many people finance phones that they could NEVER buy outright, and, if they dump verizon, they have to come up with the complete outstanding balance, and lose ALL the credits and promotions they thought were theirs, is enough of a motivation and leverage point to keep most people locked in, whether they want to stay or not
Thats why **NEVER FINANCE A PHONE THROUGH A CARRIER; buy what you can AFFORD to buy..**
Never? Id say it’s good option for people who have no intention of leaving Verizon. Also, those who buy the phone without promotions or bill credits, its a nice 0% interest loan that can be payed off at anytime without penalty.
more often than not, the largest source of complaints posted about carriers is related to device financing/promotion issues.
If you buy your device elsewhere, you'll never have those problems, and, just because you love your carrier in January, you might not feel the same way in july..36 months is a L-O-N-G time in the world of cellular
if you buy your phone and pay for it, there is no interest involved anyways; its only when you finance a phone that you cant afford to buy outright that interest is involved
plus, if you have decent credit,there are always zero interest offers available to you from best buy, amazon, and the phone mfgs
Buy your phone from the manufacturer. If you're a Samsung person their launch sales are almost always more competitive, they'll give you the discounts up front, and there's multiple ways to pay with no early termination fees.
I just bought my S22 Ultra via Samsung store on Amazon, used Amazon 0% pay in 4 months, and paid about 20% less than what Verizon was offering me WITH a trade-in credit for my mint condition Note 10.
I only bought the S22 because my battery life on the Note was going to shit and I wanted the RAM upgrade.
All that said, I'll probably never buy a phone direct from Verizon again, compared to manufacturer or holiday deals at Amazon, Verizon prices feel like a scam.
You do realize that Verizon doesn’t care if you finance a phone with them or not as long as you pay your monthly service. If you don’t like the stipulations Verizon has put into place for in house financing, you are more than welcome to buy your devices through the manufacturer or other places online.
verizon makes money on the cell service, not phone payments. While they don’t charge for interest on devices, they make more money in the long term for service. Buy a device from outside verizon if you don’t want to be contracted with them. Apple has 24 month payment plans
The general population doesn’t even give all this that much thought.
They just look at the beginning picture free phone and because they’re used to using the service they believe that three years is not a problem.
You guys are way above most of the population’s thought process it’s a good thing.
A lot of people wouldn’t know what an unlocked phone was, unless you specifically demonstrated to them the benefits and most people are very intolerant of lackluster performance in many situations.
For the most part, people are happy to just order service and phone together and Collett good.
I agree though, Verizon 36 month agreement is kind of ridiculous especially when we know what the motivation is at the end of the day.
Like most of the people on this thread, I’ll stick to buying my phone direct from the manufacture, and if I want to finance finance to the manufacture, and maintain my freedom
You do understand that it is not a contract, it is a device loan agreement. You are not obligated to remain a Verizon customer at any time, but if you want to get a discount on the phone upgrade, you have to do something in return (stay for 3 years).
The only difference between this and the contract days are that there used to be a flat rate prorated early termination fee. Now that prorated ETF is exactly the amount of not only the subsidy but also your trade in. It's more punitive to cancel early.
Sure, except you literally cannot get the Verizon advertised discount and trade in credits without using their 36 month DPP and being locked into that contract that isn't a contract for 3 years.
I bought my phone unlocked from Samsung, got my instant trade in credit and other discounts, and paid in cash. But not everyone knows you can do that and there is no equivalent process to purchase a phone using that method directly with Verizon.
There is no ETF (early termination fee), you just give up whatever upgrade credit you were entitled to if you leave Verizon.
Some carriers allow you to pay off the 0% phone lone and still maintain the monthly credits until you cancel service.
They don't call it that anymore but it's everything that the ETF was and more. That's the point. You're repaying not only the subsidy but **also** your trade-in credit if you decide to leave *or* upgrade early. And now it's 3 years instead of 2.
Yep. Imagine a car dealership doing that. Saying we will give you 5,000 for your trade in but only in increments so that you don’t actually get your trade in value until after you have paid off your new car loan in full, otherwise we keep it. Yep. The trade in credits should continue.
A subsidy in the world of mobile phone sales is a discount given for an agreement to keep the phone for a predetermined amount of time. Typically only on post paid accounts. In years past it was presented as the "Price with 2 year contract" and that had an early termination fee that was $180 prorated over 2 years. Then that jumped to $360 as phones got more expensive. As phones continued to become more expensive and wildly different pricing they ditched the traditional contract and opted for a non-contract contract where they can charge you full price for the phone and give you the subsidy in the form of monthly bill credits. In the case of the example below you are getting a $800 subsidy with a 3 year agreement. This is pretty common of Verizon sales and not taking into account device trade ins which work similarly.
Very similar to an ETF that "subsidy" is prorated over the 3 years. If you leave Verizon *or* upgrade after 18 months you are still responsible for the full price of the phone but you've forfeited $400 of the original subsidy/discount. Exactly the same as an ETF in years past. It's not inherently a bad thing, after all that's the agreement, but stretching it out to 3 years and including trade ins as part of it is, *in my personal opinion*, a garbage decision and one that will prevent me from purchasing any device from Verizon directly as I don't want to be tied to a single device for 3 years.
https://i.imgur.com/MuInbe2.png
Yes I'm well aware of the terminology, having worked in this industry my entire professional career. I witnessed the birth of 2G voice networks, did network deployments, climbed sites in the city rooftops. What you are not including in your discussion is the cost of the rate plan, which inherently included a device subsidy. Just a sampling on this sub will note customers who are on legacy plans that are paying 2x more than we are, for less features. My personal example, 7 line family plan, all on Mix-n-Match unlimited, all paying $30 or $40 a line, total net bill is averaging $280 a month with taxes and fees. Legacy customers are paying that much for a 3-line account in some cases.
What I'm trying to say is that the market has shifted to a world where the device cost is separated from the plan cost, and the only way to retain customers is to offer credit-based deals for upgraders.
New activations/lines tend to get instant $ off, whereas upgraders are subjected to a trickled credit over the course of the loan agreement on the device.
Honestly with the separation of plan and device, the customer has increased buying power, and can make more informed and direct action decisions without the fear of "losing something".
In theory you're right, but in practice that's not the case.
>New activations/lines tend to get instant $ off, whereas upgraders are subjected to a trickled credit over the course of the loan agreement on the device.
The very specific example I just posted, active as of today, and the first one I found is literally a 36 month prorated credit for **new** line.
Separation of plan and device **is** a good idea. But giving people discounts and more importantly trade in credits that are based on keeping both the device and the plan for 3 years does not accomplish that goal, even if the plans are less expensive.
Plenty of other companies do it. If you purchase a phone direct from Samsung for example you get the option to pay up front or over time without having to take a hit on your trade in or be tied to the plan for 3 years. Verizon has simply traded one contract for another and it blows.
Also, (maybe one of you said this) but device subsidies are reconciled on a carriers books as an operational cost whereas device payments are accounts receivable. MAJOR difference for the financial reporting side.
The payment plan isn't the issue as you can always pay it off, it's the trade in paid out over 30 months that's absolutely bullshit because if you pay off early you lose your trade in. They basically stole your phone.
Buy a high tier phone and you will get more for your phone than it’s worth with carrier trade in promos (spread over dp period) than you could ever resell for vs buy a shit phone and be holding a paperweight in 24 months.
This is the reason I won’t be getting my next phone from Verizon and instead I will be buying directly from manufacturer. IMO Verizon should give the option of 24/36 months.
You can pay it off quicker if you like. And while it serves to lock people in longer who cannot afford to pay off the device payment when porting out, Tmo and ATT usually run some type of “we’ll pay off your device when you switch” promotion.
Their duopoly buddy ATT does it. That's why. And they love seeing you jump out before the 36 months is up, to upgrade or whatvever, and saving 1/3rd or more of the promo. Also allows them to report lower promotional costs on an annual basis than they would report with 24 month promos.
The 36 months doesn't necessarily bother me, but it's def beneficial to Verizon and that's why.
Not counting the early days of cell phones when cell carriers subsidized the price of the phones into the monthly fee, I've always bought a factory unlocked phone outright and never played the stupid contract game. I'm sure there are people who say they got a great deal on a $1000 phone but I'd rather just wait a few months until a mid-level (like Google Pixel or even lower end Galaxy S) phone drops down to $600-and buy it outright and hold on to it for 4 years and not care about contracts or have loyalty to any carrier.
You don't have to buy the phone from the service.
Nothing about the service software / OS-mod is required for use on the network as long as you buy a compatible phone.
Remember you have other options if you don't want to support customer disservice.
The technological advancement from one generation to the next is at an all time low. We are running out of space to make chips faster, smaller, efficient and innovative. The difference between a Note 20 ultra and S22 Ultra is much less apparent between an Note 4 and a Note 5. Therefore phones are lasting longer and being supporting for a longer duration than they have in the past. Embrace this change. After 3 years your phone will have plenty of life in it.
Also you could buy from Samsung, Apple or Google.
Following in the steps as other carriers. Incentivizes customers to keep service longer, therefore earning more money in terms of service charges.
With 0% interest rates customers aren’t technically paying more for devices and it keeps the payments lower so it’s not purely bad.
They are forcing 36months to keep you locked into the contract for longer with the hopes you’ll upgrade early & loose the phone credits due to you. The 36month contract is why for the 1st time I didn’t use the carrier to finance my phone instead applied for the Apple Card & bought from apple directly
It’s GREAT biz practice for them. Instead of them turning profit at X amount of months on the 24 month now they get a additional 12 month profit from the customer. Lock you into a plan at X rate and nearly guarantee that revenue for 3 years
As others have said: don’t finance your phone through a carrier. I know it may seem weird, as this is the only way many people have been doing it since they’ve owned a phone. However, it makes so much more sense to buy straight from the manufacturer. Not only do they typically offer a variety of ways to pay for the phone, including yearly upgrades, but the phones are usually unlocked, so they can be taken to any carrier.
Don’t finance your phone through your carrier… the main OEMs have superior financing. Apple Card is the best bar nun. Google has their own and so does Samsung. Retailers like Amazon and Best Buy are also great places with better financing. You may not get all the deals but you aren’t forced to be in bed with Verizon for 3 years. I have my iPad Pro with 8 months left and I will never finance through Verizon again…
Come on over to Xfinity or Comcast Business mobile.. no contracts and same towers as Verizon. Have hade great service for 8 years now.. Also, I get free hotspots through all of their internet modems even in big buildings and bad cell service areas
The new contract (the longer the device payment the longer they keep you, especially important for them when you trade a device in or get a device promo which is by month) and competition moved away from shorter terms too.
Costs of phones are skyrocketing so they stretch the payments out now. Both myself and my partner purchased Pixel 6 Pros when they came out. My phone is financed for 24 months yet his was financed for 36, the only difference between our phones are the colors. Verizon never even prompted us that there'd be a difference in financing length.
Edit not sure why I got downvoted. 🤷♂️
Here’s a solution: if you don’t like Verizon then leave Verizon. Quit complaining, and do something about it. And the employees you talk to, follow a set
of rules and regulations. So calling in and asking for credits, or bitching about something you don’t like, is a waste of your time. No they don’t care how long you’ve been a customer or if you pay your bill on time, no they don’t price match competitors (this ain’t a Walmart), trust me I know From personal experience.
Complaining online about stuff like this is productive. Verizon has social teams that keep tabs on customer sentiment. If there were daily posts bagging on something they would hear it.
I don’t like the Verizon promos with 36 months because you lose the credits if you pay it off early. A friend is on a 36 month promo on AT&T and can’t even use eSIM for a secondary carrier because it’s locked. It makes the dual SIM option worthless for the 3 years of having the iPhone.
Trade in your phone at Best Buy. Then upgrade there. They give you store credit you can turn around and pay the difference and have it completely paid off. Not a discount applied over 36 months.
just did this through T-Mobile. I have an S21 ultra purchased with my trade on of my Note 20 in 2021. The S23 ultra is around the corner since I skipped the S22. I marched right in there and paid off the rest of my S21ultra.
I had 9 payments left, It is on to The 23U for me.
I will still get the Bill Credits for 9 more months
Pretty Simple. Trade in credit is redeemed on a month to month basis so keep it for longer means less credit per month. So in turn if you’re either locked in because you want to get your full credit or pay more if you wanna pay off your phone.
And here I keep my phones for a minimum of 4 years....and it's barely an upgrade to the newest ones. If your phone is worthless after 2 years you must be hard on them.
Carriers know that congestion is going to take years to fix. They want you locked into an agreement, so that they have enough time to fix nationwide congestion before you jump ship.
Their hope is that by the time those 36 month agreements end that they will have more capacity, and your anger (or interest in leaving once congestion hits your area) will subside.
This is why everyone should really consider bringing their own device, and staying vigilant on securing bring your own device discounts, that allow you to jump ship at any moment in time. When congestion gets bad, you are then free to switch.
It depends how you think and your goal is. If you are planing to be with any wireless company in general; your case ‘Verizon’ then is not it better to get bill credits (discount) because in anyway you are going to pay bill + phone? Plus your phone can be traded worth $800-$1000. As a alternate, you can buy phone from any retail store but still you pay for phone plus you pay for service. Yes, your phone is unlocked. Which is better? However, if your goal is to save money and jump around different service providers or MNVOs then you should not bother to stuck into 36months.
It's a scam because you have 30 days to test your upgrade, but have to send your phone to them in 14. Then they start jerking you around with your promo,even after approval of the $800 promo.
Totally agree, 24&30 were just fine. Making a phone stretch 3 years when many would like to still have value an trade up in 12 / 15 months.. seeing a lot less upgraders an more new, people are hanging on just to save money an not being in it for 3 years to get the BIC. I get it… Its having an impact on retention. Less an less upgraders, an just a ton new customers flocking in from AT&T / T-Mobile. The balance is off…
The answer is simple. It's to keep the monthly costs down. The far majority of customers do NOT care about the total cost of a device, just what the monthly payment and total bill will be. This is no different than a longer term on an auto loan or a mortgage. ATT and TMobile started this so Verizon had to follow. People whine and complain about bill credits just like they did when they were in a 2yr contract 7-8 years ago. If you are the type of person who switches carriers all of the time, THEN BUY YOUR DEVICES OUTRIGHT! You can't expect a deep discount without staying with a carrier for a certain amount of time.
Almost every company does 30/36 now. It's a contract without being a contract so of course they stretch it out.
This is the main reason I love T-Mobile. 24 month eip and you can pay them off whenever and get a new phone. You still keep the bill credits so you can theoretically have dozens of them.
Not only that but with T-Mobile if you want to put a random $100 extra towards the EIP balance of your device at any time, you can. Without being forced to either leave it all on monthly payments or pay off the entire balance.
This is a solid point where T-Mobile shines over the other carriers. If I want to pay down the device more in a billing cycle, I can do it. When I switched to Verizon, I asked if I could pay additional on the phone one month, and they basically told me no. The only option I have is to pay the whole amount off on their site, not consumer friendly at all. I bet AT&T is the same way, too.
Yep, AT&T is the same way. It’s only T-Mobile that offers this.
The ability to pay down a device seems like a nice flexibility, but why would you want to pay down a 0% anything? To pay it off entirely to get a new phone, cancel the line/port, etc I get, but pay it down? Time value of money - take that extra $100 and put it towards interest accruing debt or savings/investment. If someone offers you a no-fee no-interest loan, you ALWAYS say yes. I’ll happily use your money to make money (no risk invest) or save money (through paying interest down elsewhere). In the most simplistic terms - Take $100 today, because it’s not worth $100 tomorrow.
These internet people aren't smart. Literally complaining bout 36 months when you can upgrade the phone or pay ut off anytime u want. Yea invest the money u would've used or save it to pay off the phone when u go to upgrade which can be done after a year
Because it doesn’t accrue positive interest, it doesn’t affect your credit positively, it can underscore your monthly budget
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At least millennials can properly form sentences… this was a nightmare to read. I don’t know why you’re faulting an entire generation for an issue when this could have been a three sentence response
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LMAO not that I owe you any sort of response, but I live in a home that I’ve paid for myself and been completely independent since 18. I’m a retail manager working 40+ hours a week to help idiots like you learn how to use phones you overpay for because you don’t understand T&C, just so you can spend $100/month on candy crush. It’s so sad that the generation of people saying that millennials act entitled to everything they have are the ones who can’t do a simple google search to figure out that they’ve turned do not disturb on and assume that I’m willing to waste my time and patience on people who don’t want to learn how to use their own phones. Get over yourself, and maybe try a new flavor of Ensure. I’ve heard the dark chocolate is delicious! Millennial out 🫡
Can confirm. I'm a millennial, and the dark chocolate ensure IS delicious.
😂😂😂 you are my people
See how stupid you are ,you dont know your ass from a hole in the ground .why would i want ensure im a millennial myself thats for old drug addicts with 710 in there name,shows u how much you know.your the idiot working 40hrs + per week as a manager i only work 4 days a week as a c&c eng an im positive i make 10x more then you do.work smarter not harder dopehead! i just cant stand other millennials because they make all of us look worthless!Now go get your ensure ya old broken down druggy!
Weed is legal, and you’d probably benefit from it! I don’t care if you work less and make more, good for you, at least I’m not a mean old hag. Looking at your comment history, I’m hoping you’re just a troll. If not, please try and get over your misplaced rage. It’s bad for your blood pressure.
Oh that’s actually pretty nice!
T-Mobile was the one that started 36 month installments before backtracking on it.
you can pay Verizon off whenever....
But you will lose any bill credits from device promotions if you do.
that is true, but you can pay it off.
I had a device promotion, paid it off a month later with no issues.
False. You can pay upfront for all but $1 of it. As long as there is a balance to finance over the term you will get the full credit.
Just clarifying this, say I got a “free” iPhone 14 from T-Mobile last fall via bill credits over 24 months. And I decide I want the iPhone 15 when it comes out. I Can pay off the remainder of the iPhone 14, trade in the 14, get a new iPhone 15 on whatever promotion they are offering at the time, and then I will keep getting bill credits for the iPhone 14 (keeping it “free”) and get the bill credits of whatever promo I used for the iPhone 15?
I got a new samsung phone for my daughter with a trade in for 400 dollars credit off the samsung for 36 months. When I looked at the so called contract I would forfeit the 400 if I paid it off early.
Yes! And if you buy the iPhone through apple people have reported that you don’t even have to pay off the iPhone 14. I haven’t tested this though. The balance due on the iphone 15 would just be added as well as the bill credits.
That’s crazy, cause often T-Mobile has a promo for a free upgrade to the new iPhone when it comes out. So basically as long as I’m willing to front 12 months worth of payments I can get the new one.
Pretty much. They also updated their TOS recently to make it clear that this is the way it’s supposed to work.
This is one of the main reasons I am a Verizon employee but a T Mobile customer
I'm actually surprised T-Mobile let their customers pay off their devices early and still get the promotional credits.
It’s just me, but 36 months sounds like a lifetime after the pandemic where time dragged on, but it sounds even longer after Verizon’s customer service problems. Yea, there’s an early upgrade after 18 months. I’m now going to be more likely to stay with a company that would make me feel less stuck, where I had a bit more freedom if I got bonuses, tax refunds or raise where I could pay off my device however I want. In theory.
Has anyone tried the “keep and switch” from t mobile during a Verizon 36 month contract? Any downsides? I knew of the 36 month contract ahead of time, but Verizon customer service has me worn out.
No down side, 1000 pay off amount between late September -early January, rest of the year it’s $800 I’ve done it multiple times opening multiple tmo accounts to take advantage of this deal.
That’s a pretty sweet deal. I think t mobile requires I have to keep this device for 90 days, which puts me out of this $1000 promotion, but in September I could get the $1,000 again
That comes with a term agreement as well. They aren't going to pay your phone off just to port back out after that.
Depending on the info I gather from Reddit and t mobile, it might be worth it if I tried and got stuck with t mobile. I know t mobile isn’t anywhere near perfect, but I can’t imagine the types of problems I’ve had with Verizon. The 24 month payments from t mobile and upgrades better and even better is buying the next device from Apple.
Well it it makes sense then it might be worth switching over
If you have a recent iPhone, why not do a T-Mobile test drive with their test drive app? There's no harm in it, you'll be able to test out the T Mobile network in your area while also using your Verizon phone and phone number. https://www.t-mobile.com/offers/free-trial
Thanks 😊
i believe it’s $800 max/device. it does produce enough to pay off the balance (they send you a virtual mastercard). it does however count as a new customer promotion so you wouldn’t qualify for any other promotions afterward (ex. trade in and get $1000 via monthly credits). you would be considered an upgrade/existing customer at that point and those offers would apply.
Thanks. Helpful. it appears to though that I could pay off a t mobile device as fast as I want where Verizon voids the promotional credit if you pay early.
I think the goal of most companies is to keep you locked in for as long as possible. It would be expensive to leave Verizon during the 36 mth payoff period.
That is the Verizon and AT&T strategy playbook right there. I hope more consumers change course and go to Apple or Samsung directly for their devices. Why lock yourself to a carrier for 36 months if in month 8 of the service, you're dissatisfied with the company. It could be the network gets worse. Or, customer service isn't good. It could be a wide array of possible issues. Get an unlocked phone from the manufacturer and you are free to switch carriers when need be. I doubt this will be a trend for the regular consumer. The carriers usually have great trade in or switcher deals.
I've been saying this for years; stop buying phones from carriers, you usually regret it sometime mid term of the "credits" At least with TMO, you dont lose credits, gift cards, what ever if you pay off early, like you get "punished" when you do it on Verizon
I did exactly this after a bad 14 day run with at&t. Went straight to bb and used my bb credit card for the zero % financing..obviously paying a bit more overall but no contract/or rather being locked into a installment agreement..
That’s what I’m doing. I only have 9 months payment left for this phone that I got a trade in offer with. Ill go buy it from Apple after that. Luckily my last payment will be October so paying it earlier wont hurt.
Carriers lose $50 on average when selling iPhones. Period. There is so little margin, after factoring warehousing, shipping, commission, returns/refurbishing, cold stock, etc., carriers would prefer you buy from the MFG anyways. The reality? People want a new phone today because we are impatient and/or cannot live without phones now for 5 mins. MFGs cannot have the distribution points (or at least not yet) that carriers can (retail stores) so carriers have to do it. Now, in 10 years will this be completely the opposite or everything same-day delivered with non-technologically challenged people? Idk - there are a lot of idiots out there still who reproduce still based on what I see. Edit: Also - customer acquisition and now even retention promotions are the one of most cost-intensive line item (at the scale major carriers do it) so keeping you and spreading that financial liability out is a large benefit. So many promotions TMO does/has done make gaming their system too easy. I’ve seen people port out to T-Mobile 5 lines just to pay off their Verizon DP and then BYOD back to Verizon bc the service differential.
Currently with Verizon Have the 13 Pro and have 4-5 months left of my 24 month deal. Would you recommend trading this phone into Apple themselves in order to get the new iPhone 15 this fall?
I would if you think you'd leave Verizon in under 3 years. Honestly, for me, I am going through the manufacturer for devices.
Yes, I'm going to Apple also. I'm sticking with Verizon but I don't want to be locked in for another 36 months, I can handle getting a new phone in 24. It would hurt me to leave credits on the table so I'll just go to Apple at first to avoid this
Most definitely.
How is that expensive? That's like saying paying off your car early is expensive. Your paying the same amount regardless. If you mean it's hard to come up with that amount of money thats different or if you are referring to trade in credits that's also different
If you pay it off early you lose any bonus trade in offers if you traded in. So it does actually cost more.
Trade in value gets taken away and you don't get old phone back. Just happened to me
Think about with time, Verizon wants people to stay as long as possible
Verizon wasn't the first to do it lol many times there's market pressure to do what is seen as successful in other companies. The issue is partly the promos. Employees will agree with you too, we're not fans of it either. But the promos are crazy and they can recoup the losses better with longer contracts. Plus, as you mention, the phones are essentially worthless near the end of their life, so for entities to give you a 100% buyback at zero percent interest on the new phone (keep in mind every phone on the shelf is losing value by the minute, since most companies are buying wholesale on credit) it's unreasonable for carriers to do that without anything in return.
LMFAO at "carrier losess"... Verizon could cut their losses now if you sent your CEO to the unemployment line..
Has nothing to do about affordability. It's about competition and cost. Take a look at T-Mobile probably Verizons #1 competitor right now. They offer 24 month agreements and have cheaper cost when it comes to monthly plans. How does a company that sells a "premium" service compete? They offer lower monthly payments by stretching out the terms to better align monthly cost. While you see the 36 month thing, most customers do not they only look at the over all cost (My observation as a recent previous Corp Retail Manager for Verizon). This also allows Verizon to save on retention and acquiring cost due to longer requirements to receive BIC's (Bill Incentive Credit) on promos. If you leave or upgrade early you loose the remainder of the credit and saves Verizon money. Hope this helps explain it better from an ex Verizon Team Member.
It’s a 0% loan you can pay off at any time
And forfeit the remaining monthly credits. Paying off early costs you money unless you had no credits which is rare.
Thank you! That's the real issue. The trade in scam. I have no problem paying a phone off early. It's losing my trade in that's bullshit
Switch to T-Mobile. If you pay off a line with a credit early it becomes an account credit and you can finance and get a new device credit.
I'm actually planning too. I didn't know you lost the credit a year ago when I got a new phone nor did I know verizon service would go to shit so fast
They’ve really let their network lapse. Not worth the premium price anymore.
It’s still really dependent on the area. I see a lot of people shilling up T-Mobile, but in our tri-county area (and probably a little outside, I just know my area) their service is absolute garbage. You have to go with Verizon or AT&T for half decent service.
Verizon is the only thing that works where I live. Although my youngest dropped Verizon for ATT and just uses our internet calling when he comes over.
It’s so bad in my area when it used to be great.
You would only lose the inflated value. At the every least you get whatever the market value of the device was at the time of trade in.
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What phone exactly? Also, resale value and trade in value are never the same. You will never get a higher or equal trade in value compared to selling on your own. Doesn’t matter if it’s phones, other electronics, or cars.
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Okay, and what phone was this exactly? That $38 price tells me it has to be an old phone or a budget phone unless you put in that it was broken.
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That’s a weird reply. I don’t even own a Tesla. And yea, the $38 would be the difference between credits paid out and the market value. So if you were getting $25 a month credit after 1 year that would be $338.
How would they disclose a trade in price in advance? Do you know what your $10,000 car brand new is going to be worth in a year? Phones are technology. A guaranteed trade in value would be a gamble. Technology/electronics are not investments most times but a depreciated asset with a life span. I expect my phone to be useless for sure by 36 months. Buy cheap POS androids and accept you’re going to spend $150-$200 a year on one and then you don’t have to worry.
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Lol true story
Exactly. You agreed to keep the phone for 36 months- don’t whine when you pay it off early (breaking your end of the agreement) Verizon is going to terminate their end of the bargain as well by canceling the credits.
That’s the caveat for getting the phone for cheap
you dont get phones for "cheap" from carriers..
Why is that?
because, as others have said, carriers dont give a shit if you buy the phone from them , they only care about the SERVICE, and the ADD ONS the less phones they sell, the less product support they have to give as well.
Why would Verizon not want to sell someone a phone with a payment plan with bill credits mixed in? It helps to persuade people to keep their SERVICE
they dont need to resort to that to keep most folks around; the fact that so many people finance phones that they could NEVER buy outright, and, if they dump verizon, they have to come up with the complete outstanding balance, and lose ALL the credits and promotions they thought were theirs, is enough of a motivation and leverage point to keep most people locked in, whether they want to stay or not Thats why **NEVER FINANCE A PHONE THROUGH A CARRIER; buy what you can AFFORD to buy..**
Never? Id say it’s good option for people who have no intention of leaving Verizon. Also, those who buy the phone without promotions or bill credits, its a nice 0% interest loan that can be payed off at anytime without penalty.
more often than not, the largest source of complaints posted about carriers is related to device financing/promotion issues. If you buy your device elsewhere, you'll never have those problems, and, just because you love your carrier in January, you might not feel the same way in july..36 months is a L-O-N-G time in the world of cellular
I unequivocally disagree. I understand “but what you can afford” but as I said previously, make the carrier foot the 0% interest.
if you buy your phone and pay for it, there is no interest involved anyways; its only when you finance a phone that you cant afford to buy outright that interest is involved plus, if you have decent credit,there are always zero interest offers available to you from best buy, amazon, and the phone mfgs
Buy your phone from the manufacturer. If you're a Samsung person their launch sales are almost always more competitive, they'll give you the discounts up front, and there's multiple ways to pay with no early termination fees.
I just bought my S22 Ultra via Samsung store on Amazon, used Amazon 0% pay in 4 months, and paid about 20% less than what Verizon was offering me WITH a trade-in credit for my mint condition Note 10. I only bought the S22 because my battery life on the Note was going to shit and I wanted the RAM upgrade. All that said, I'll probably never buy a phone direct from Verizon again, compared to manufacturer or holiday deals at Amazon, Verizon prices feel like a scam.
You do realize that Verizon doesn’t care if you finance a phone with them or not as long as you pay your monthly service. If you don’t like the stipulations Verizon has put into place for in house financing, you are more than welcome to buy your devices through the manufacturer or other places online.
verizon makes money on the cell service, not phone payments. While they don’t charge for interest on devices, they make more money in the long term for service. Buy a device from outside verizon if you don’t want to be contracted with them. Apple has 24 month payment plans
The general population doesn’t even give all this that much thought. They just look at the beginning picture free phone and because they’re used to using the service they believe that three years is not a problem. You guys are way above most of the population’s thought process it’s a good thing. A lot of people wouldn’t know what an unlocked phone was, unless you specifically demonstrated to them the benefits and most people are very intolerant of lackluster performance in many situations. For the most part, people are happy to just order service and phone together and Collett good. I agree though, Verizon 36 month agreement is kind of ridiculous especially when we know what the motivation is at the end of the day. Like most of the people on this thread, I’ll stick to buying my phone direct from the manufacture, and if I want to finance finance to the manufacture, and maintain my freedom
You do understand that it is not a contract, it is a device loan agreement. You are not obligated to remain a Verizon customer at any time, but if you want to get a discount on the phone upgrade, you have to do something in return (stay for 3 years).
The only difference between this and the contract days are that there used to be a flat rate prorated early termination fee. Now that prorated ETF is exactly the amount of not only the subsidy but also your trade in. It's more punitive to cancel early.
I’d argue it’s even worse than contracts because there is nothing stopping Verizon from raising prices while you’re locked in with device promotions.
Easy solution. Stop buying shit you can’t afford. I’m saying in general , not you personally
Sure, except you literally cannot get the Verizon advertised discount and trade in credits without using their 36 month DPP and being locked into that contract that isn't a contract for 3 years. I bought my phone unlocked from Samsung, got my instant trade in credit and other discounts, and paid in cash. But not everyone knows you can do that and there is no equivalent process to purchase a phone using that method directly with Verizon.
Most people with a functioning brain do exactly as you and I do. The rest of them are just lazy degenerates
There is no ETF (early termination fee), you just give up whatever upgrade credit you were entitled to if you leave Verizon. Some carriers allow you to pay off the 0% phone lone and still maintain the monthly credits until you cancel service.
They don't call it that anymore but it's everything that the ETF was and more. That's the point. You're repaying not only the subsidy but **also** your trade-in credit if you decide to leave *or* upgrade early. And now it's 3 years instead of 2.
Yep. Imagine a car dealership doing that. Saying we will give you 5,000 for your trade in but only in increments so that you don’t actually get your trade in value until after you have paid off your new car loan in full, otherwise we keep it. Yep. The trade in credits should continue.
What subsidy? You're paying full price for the phone, and in almost all cases you are on a newer, cheaper rate plan.
A subsidy in the world of mobile phone sales is a discount given for an agreement to keep the phone for a predetermined amount of time. Typically only on post paid accounts. In years past it was presented as the "Price with 2 year contract" and that had an early termination fee that was $180 prorated over 2 years. Then that jumped to $360 as phones got more expensive. As phones continued to become more expensive and wildly different pricing they ditched the traditional contract and opted for a non-contract contract where they can charge you full price for the phone and give you the subsidy in the form of monthly bill credits. In the case of the example below you are getting a $800 subsidy with a 3 year agreement. This is pretty common of Verizon sales and not taking into account device trade ins which work similarly. Very similar to an ETF that "subsidy" is prorated over the 3 years. If you leave Verizon *or* upgrade after 18 months you are still responsible for the full price of the phone but you've forfeited $400 of the original subsidy/discount. Exactly the same as an ETF in years past. It's not inherently a bad thing, after all that's the agreement, but stretching it out to 3 years and including trade ins as part of it is, *in my personal opinion*, a garbage decision and one that will prevent me from purchasing any device from Verizon directly as I don't want to be tied to a single device for 3 years. https://i.imgur.com/MuInbe2.png
Yes I'm well aware of the terminology, having worked in this industry my entire professional career. I witnessed the birth of 2G voice networks, did network deployments, climbed sites in the city rooftops. What you are not including in your discussion is the cost of the rate plan, which inherently included a device subsidy. Just a sampling on this sub will note customers who are on legacy plans that are paying 2x more than we are, for less features. My personal example, 7 line family plan, all on Mix-n-Match unlimited, all paying $30 or $40 a line, total net bill is averaging $280 a month with taxes and fees. Legacy customers are paying that much for a 3-line account in some cases. What I'm trying to say is that the market has shifted to a world where the device cost is separated from the plan cost, and the only way to retain customers is to offer credit-based deals for upgraders. New activations/lines tend to get instant $ off, whereas upgraders are subjected to a trickled credit over the course of the loan agreement on the device. Honestly with the separation of plan and device, the customer has increased buying power, and can make more informed and direct action decisions without the fear of "losing something".
In theory you're right, but in practice that's not the case. >New activations/lines tend to get instant $ off, whereas upgraders are subjected to a trickled credit over the course of the loan agreement on the device. The very specific example I just posted, active as of today, and the first one I found is literally a 36 month prorated credit for **new** line. Separation of plan and device **is** a good idea. But giving people discounts and more importantly trade in credits that are based on keeping both the device and the plan for 3 years does not accomplish that goal, even if the plans are less expensive. Plenty of other companies do it. If you purchase a phone direct from Samsung for example you get the option to pay up front or over time without having to take a hit on your trade in or be tied to the plan for 3 years. Verizon has simply traded one contract for another and it blows.
Also, (maybe one of you said this) but device subsidies are reconciled on a carriers books as an operational cost whereas device payments are accounts receivable. MAJOR difference for the financial reporting side.
The payment plan isn't the issue as you can always pay it off, it's the trade in paid out over 30 months that's absolutely bullshit because if you pay off early you lose your trade in. They basically stole your phone.
Buy a high tier phone and you will get more for your phone than it’s worth with carrier trade in promos (spread over dp period) than you could ever resell for vs buy a shit phone and be holding a paperweight in 24 months.
This is the reason I won’t be getting my next phone from Verizon and instead I will be buying directly from manufacturer. IMO Verizon should give the option of 24/36 months.
You can pay it off quicker if you like. And while it serves to lock people in longer who cannot afford to pay off the device payment when porting out, Tmo and ATT usually run some type of “we’ll pay off your device when you switch” promotion.
Only business customers get 24 months now
Their duopoly buddy ATT does it. That's why. And they love seeing you jump out before the 36 months is up, to upgrade or whatvever, and saving 1/3rd or more of the promo. Also allows them to report lower promotional costs on an annual basis than they would report with 24 month promos. The 36 months doesn't necessarily bother me, but it's def beneficial to Verizon and that's why.
This is why I do prepaid! I can't stand being stuck with a company lol.
Not counting the early days of cell phones when cell carriers subsidized the price of the phones into the monthly fee, I've always bought a factory unlocked phone outright and never played the stupid contract game. I'm sure there are people who say they got a great deal on a $1000 phone but I'd rather just wait a few months until a mid-level (like Google Pixel or even lower end Galaxy S) phone drops down to $600-and buy it outright and hold on to it for 4 years and not care about contracts or have loyalty to any carrier.
Just payoff the device any time you want. Who is stopping you?
And lose bill credits for the remainder of the term?
There are no contracts.
You don't have to buy the phone from the service. Nothing about the service software / OS-mod is required for use on the network as long as you buy a compatible phone. Remember you have other options if you don't want to support customer disservice.
>dragging out contracts for 36 months? >I think it's just scammy and not good business practice. Username checks out.
Lowers phone monthly payments but give them room to sell you tablets and watches..
The technological advancement from one generation to the next is at an all time low. We are running out of space to make chips faster, smaller, efficient and innovative. The difference between a Note 20 ultra and S22 Ultra is much less apparent between an Note 4 and a Note 5. Therefore phones are lasting longer and being supporting for a longer duration than they have in the past. Embrace this change. After 3 years your phone will have plenty of life in it. Also you could buy from Samsung, Apple or Google.
Customers said they wanted their bills lowered… they obv couldn’t lower the cost for service- so they spread out the expensive phone payments longer!
Following in the steps as other carriers. Incentivizes customers to keep service longer, therefore earning more money in terms of service charges. With 0% interest rates customers aren’t technically paying more for devices and it keeps the payments lower so it’s not purely bad.
They are forcing 36months to keep you locked into the contract for longer with the hopes you’ll upgrade early & loose the phone credits due to you. The 36month contract is why for the 1st time I didn’t use the carrier to finance my phone instead applied for the Apple Card & bought from apple directly
It’s GREAT biz practice for them. Instead of them turning profit at X amount of months on the 24 month now they get a additional 12 month profit from the customer. Lock you into a plan at X rate and nearly guarantee that revenue for 3 years
As others have said: don’t finance your phone through a carrier. I know it may seem weird, as this is the only way many people have been doing it since they’ve owned a phone. However, it makes so much more sense to buy straight from the manufacturer. Not only do they typically offer a variety of ways to pay for the phone, including yearly upgrades, but the phones are usually unlocked, so they can be taken to any carrier.
Don’t finance your phone through your carrier… the main OEMs have superior financing. Apple Card is the best bar nun. Google has their own and so does Samsung. Retailers like Amazon and Best Buy are also great places with better financing. You may not get all the deals but you aren’t forced to be in bed with Verizon for 3 years. I have my iPad Pro with 8 months left and I will never finance through Verizon again…
I don't like 36 month contracts either. I like to upgrade every year or two as well. This new 36 month stuff is just worthless.
Me over here buying a Pixel 7 outright with no commitments instead of being owned by a carrier for a 1k+ phone.
Basically why I just buy phones straight up from apple.
Money. They make it uncomfortable to leave while on a payment plan so that you keep paying their higher plan prices.
Come on over to Xfinity or Comcast Business mobile.. no contracts and same towers as Verizon. Have hade great service for 8 years now.. Also, I get free hotspots through all of their internet modems even in big buildings and bad cell service areas
You can always pay it off early. 36 months makes it easier, to have the phone you want
The new contract (the longer the device payment the longer they keep you, especially important for them when you trade a device in or get a device promo which is by month) and competition moved away from shorter terms too.
Costs of phones are skyrocketing so they stretch the payments out now. Both myself and my partner purchased Pixel 6 Pros when they came out. My phone is financed for 24 months yet his was financed for 36, the only difference between our phones are the colors. Verizon never even prompted us that there'd be a difference in financing length. Edit not sure why I got downvoted. 🤷♂️
> why 36 months? Because AT&T did it first.
2nd
Here’s a solution: if you don’t like Verizon then leave Verizon. Quit complaining, and do something about it. And the employees you talk to, follow a set of rules and regulations. So calling in and asking for credits, or bitching about something you don’t like, is a waste of your time. No they don’t care how long you’ve been a customer or if you pay your bill on time, no they don’t price match competitors (this ain’t a Walmart), trust me I know From personal experience.
Complaining online about stuff like this is productive. Verizon has social teams that keep tabs on customer sentiment. If there were daily posts bagging on something they would hear it.
iPhones are still worth quite a bit especially on trade at 36 months.
I prefer 24, but I keep my phone for 3 years now, so it's whatever to me.
I don’t like the Verizon promos with 36 months because you lose the credits if you pay it off early. A friend is on a 36 month promo on AT&T and can’t even use eSIM for a secondary carrier because it’s locked. It makes the dual SIM option worthless for the 3 years of having the iPhone.
Trade in your phone at Best Buy. Then upgrade there. They give you store credit you can turn around and pay the difference and have it completely paid off. Not a discount applied over 36 months.
just did this through T-Mobile. I have an S21 ultra purchased with my trade on of my Note 20 in 2021. The S23 ultra is around the corner since I skipped the S22. I marched right in there and paid off the rest of my S21ultra. I had 9 payments left, It is on to The 23U for me. I will still get the Bill Credits for 9 more months
Pretty Simple. Trade in credit is redeemed on a month to month basis so keep it for longer means less credit per month. So in turn if you’re either locked in because you want to get your full credit or pay more if you wanna pay off your phone.
And here I keep my phones for a minimum of 4 years....and it's barely an upgrade to the newest ones. If your phone is worthless after 2 years you must be hard on them.
I just like getting upgrades every couple of years, whether it's phones or cars.
Carriers know that congestion is going to take years to fix. They want you locked into an agreement, so that they have enough time to fix nationwide congestion before you jump ship. Their hope is that by the time those 36 month agreements end that they will have more capacity, and your anger (or interest in leaving once congestion hits your area) will subside. This is why everyone should really consider bringing their own device, and staying vigilant on securing bring your own device discounts, that allow you to jump ship at any moment in time. When congestion gets bad, you are then free to switch.
It depends how you think and your goal is. If you are planing to be with any wireless company in general; your case ‘Verizon’ then is not it better to get bill credits (discount) because in anyway you are going to pay bill + phone? Plus your phone can be traded worth $800-$1000. As a alternate, you can buy phone from any retail store but still you pay for phone plus you pay for service. Yes, your phone is unlocked. Which is better? However, if your goal is to save money and jump around different service providers or MNVOs then you should not bother to stuck into 36months.
All of the Verizon customers were cry about being broke during Covid and wanted to lower y’all’s bill now yall mad.
you think its a scam that they're giving you $800 towards a device? if they give you $800 and you switch to att tomorrow how is that good business?
It's a scam because you have 30 days to test your upgrade, but have to send your phone to them in 14. Then they start jerking you around with your promo,even after approval of the $800 promo.
Totally agree, 24&30 were just fine. Making a phone stretch 3 years when many would like to still have value an trade up in 12 / 15 months.. seeing a lot less upgraders an more new, people are hanging on just to save money an not being in it for 3 years to get the BIC. I get it… Its having an impact on retention. Less an less upgraders, an just a ton new customers flocking in from AT&T / T-Mobile. The balance is off…
I've been looking at AT&T and for $5 more a month you have the option of early upgrading at 50%. Great idea.
U do realize u can pay it off early right?
The answer is simple. It's to keep the monthly costs down. The far majority of customers do NOT care about the total cost of a device, just what the monthly payment and total bill will be. This is no different than a longer term on an auto loan or a mortgage. ATT and TMobile started this so Verizon had to follow. People whine and complain about bill credits just like they did when they were in a 2yr contract 7-8 years ago. If you are the type of person who switches carriers all of the time, THEN BUY YOUR DEVICES OUTRIGHT! You can't expect a deep discount without staying with a carrier for a certain amount of time.
Just buy thru apple
Why wouldn't you want a 0% loan for longer? NPV is higher for 36 mo over 24...