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Thread: Contract?

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    Contract?

    I'm looking into verizon postpaid and noticed they no longer have contracts is this true?

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    Verizon wireless and no longer does contracts. But you can get your mobile devices on a payment plan


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    Do beware that the way they do most of their promos/discounts is to apply it as credits over 24 months, so if you pay off your device and leave before the 24 credits are applied you won't actually receive the full discount. IMHO just a contract by another name, but now instead of a ETF you have to pay, you just lose a portion of a discount. Best Buy and other retailers often have instant discounts that are applied at purchase, even with VZW's payment plan.

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    Quote Originally Posted by David19 View Post
    I'm looking into verizon postpaid and noticed they no longer have contracts is this true?
    Contracts on phones went away in January 2017

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    Yep, instead of paying $199 or $299 at purchase with a contract you just owe them the entire $1100 paid over 24 months.

    And you can’t get out of it until the $1100 is paid. But your phone’s trade-in or resale value offsets this when you go to buy another device.


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    They replaced contracts with DPP (Device Payment Plan). Business accounts can still purchase devices with traditional contacts

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    Quote Originally Posted by techfranz View Post
    Yep, instead of paying $199 or $299 at purchase with a contract you just owe them the entire $1100 paid over 24 months.

    And you can’t get out of it until the $1100 is paid. But your phone’s trade-in or resale value offsets this when you go to buy another device.


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    You're laving put the part where that $299 phone also meant your line access fee was $20 more per month for 2 years. And it was $299 on a $750 phone. If they still did 2 year contracts today a $1100 phone would be $650. The discount was pretty much $450 while the extra line access fee was $480 over 2 years. And you had to pay a ETF if you left before 2 years.

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    Contract?

    Quote Originally Posted by Jack Hagar View Post
    You're laving put the part where that $299 phone also meant your line access fee was $20 more per month for 2 years. And it was $299 on a $750 phone. If they still did 2 year contracts today a $1100 phone would be $650. The discount was pretty much $450 while the extra line access fee was $480 over 2 years. And you had to pay a ETF if you left before 2 years.
    One other point is when Device Payment Plans first were being rolled out, the carriers dropped the cellular plan price to help folks afford the new Device Payments so your $200 a month bill would not jump directly to $320

    Guess I should look at some old plan brochures but I am fairly certain adding a line was $10-$20 in the old days.

    Here found one. Missing is data plan and the etf is only $175 and adding a line is $9.99. But I think it supports the idea access charges were not historically $40 without a DPP.

    On the ETF remember when they said Smartphone ETF’s will no longer be $175 but $325 and there was a customer outcry?


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    Last edited by techfranz; 10-16-2019 at 10:42 AM.

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    Those are some super old plans. More/Share Everything started in 2012 and was repealed by the Verizon Plan in 2014 which was replaced by the similar New Verizon plan in 2016 and still exists today. Under Verizon and New Verizon line access was $20 if you had device payments or were out of contract and $40 if you had a 2 year contract. Typical flagships were $650 back then which could be had for $200 under 2 year contract. So...

    Device Payment - $650 plus $480 line access fee( $20 X 24 months )=$1130
    2 Year Contract - $200 plus $960 line access fee( $40 X 24 months )=$1160

    and I believe the upgrade fee was $10 more for 2 year contracts. So people who think they were getting a deal for 2 year contracts were certainly not.

    Some people will argue that losing discount credits for leaving before 24 months on device payments is akin to an ETF. Not really. If you see that a new Pixel 4 is $450 off with trade in even on phones that aren't even worth $25 under the condition you stay for 24 months you know that going in. You are free to pay full price and forgo the credits and leave whenever you want without penalty. And even if you leave after a year you still got $225 in credits on a device that is not even worth anywhere near that. Seriously I've got a G4 in drawer that I can get $450 from Verizon. I couldn't sell that for $25 even if it was unopened in the box.

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    Kind of unrelated, but it's also worth noting that many of their promos on phones require you to get an unlimited plan. If you use tons of data, that may be fine, but the cost of those plans really adds up, especially when you have multiple lines. If you can get by with the data you get from a New Verizon Plan, those are still available, but they top out at 8 GB, whereas they used to go up to 16 GB. So it's pretty obvious that Verizon is trying to push unlimited. Finally, if your employer offers a corporate discount, keep in mind that those likely don't apply to unlimited plans, which could make them even more expensive. We're on the 12 GB New Verizon Plan, which you can't get anymore, and I get a 20% corporate discount, so, for us, going unlimited would really sting. But, by staying where we are, we're likely going to be forced to pay full price when we want to get new phones.

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    Quote Originally Posted by ALCingularUser View Post
    Kind of unrelated, but it's also worth noting that many of their promos on phones require you to get an unlimited plan. If you use tons of data, that may be fine, but the cost of those plans really adds up, especially when you have multiple lines. If you can get by with the data you get from a New Verizon Plan, those are still available, but they top out at 8 GB, whereas they used to go up to 16 GB. So it's pretty obvious that Verizon is trying to push unlimited. Finally, if your employer offers a corporate discount, keep in mind that those likely don't apply to unlimited plans, which could make them even more expensive. We're on the 12 GB New Verizon Plan, which you can't get anymore, and I get a 20% corporate discount, so, for us, going unlimited would really sting. But, by staying where we are, we're likely going to be forced to pay full price when we want to get new phones.

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    Yep, I'm on the 5 gb plan and carry over at least 2 gb per month. Unless you have to be one of the sheep and get stung for an iPhone or Samsung, there are several offerings out there for $250 or less. I've been using Moto's for several years now and they do everything I need or want in a cell phone. May not have every single band or NFC, etc., but are well performing phones with outstanding battery life.

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    Oddly enough I bought a jetpack (add-on line to my family plan) and I got a big one-time discount with a ETF for disconnecting before two years. Basically a contract. But I've only seen these "contracts" on Gizmo watches and JetPacks.
    Last edited by RF9; 10-17-2019 at 03:47 PM.

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    Quote Originally Posted by techfranz View Post
    Yep, instead of paying $199 or $299 at purchase with a contract you just owe them the entire $1100 paid over 24 months.

    And you can’t get out of it until the $1100 is paid. But your phone’s trade-in or resale value offsets this when you go to buy another device.


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    The trade in amount is a deep discount from what you paid for the phone. I personally would not count the trade in as a benefit or bonus.

    You pay $1,300 for a phone and a year later they are selling for $450 on swappa. I think phones are a higher expense to consumers then cars are sometimes. If carriers took the payment program away I think phone sales probably would fall like a rock. It's amazing how many people I hear complain how high their cell bill is only to find out over half of it is device payments. I then have to explain to them the cell bill isn't high at all, it's your loan payment for your phones.

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    Quote Originally Posted by techfranz View Post
    One other point is when Device Payment Plans first were being rolled out, the carriers dropped the cellular plan price to help folks afford the new Device Payments so your $200 a month bill would not jump directly to $320

    Guess I should look at some old plan brochures but I am fairly certain adding a line was $10-$20 in the old days.

    Here found one. Missing is data plan and the etf is only $175 and adding a line is $9.99. But I think it supports the idea access charges were not historically $40 without a DPP.

    On the ETF remember when they said Smartphone ETF’s will no longer be $175 but $325 and there was a customer outcry?


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    (In agreement) I remember a brief time there as contracts were starting to phase out that you could pay $40 per line access fee on-contract "subside" device or $20 per line if you paid in full, brought your own (difficult to do on Verizon unless it was someone's hand-me-down), or financed a phone. Essentially they took out that $20 that was built into the service plan to get back that $450 discount they gave you. Really just unrolled the full cost of the phone so that it's a separate charge.

    When 2-year contracts weren't an option and were mandatory, you were leaving money on the table if you didn't upgrade every two years because the cost of the phone was built into the service fee because even when your contract ended, your rate didn't drop by $20.

    But when Verizon was phasing out contracts, I remember your line access fee would in-fact drop by $20 (or maybe it was $15?) once your two year contract ended unless you re-upped with a new discounted device (new contract.)
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    Quote Originally Posted by RF9 View Post
    Oddly enough I bought a jetpack (add-on line to my family plan) and I got a big one-time discount with a ETF for disconnecting before two years. Basically a contract. But I've only seen these "contracts" on Gizmo watches and JetPacks.
    Yes Verizon still does contracts on non-phones so there is nothing odds about that. I rather just pay full price an not be locked in for 2 years.

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