Verizon is going all-in on 3-year contracts
When it comes to buying a phone from a carrier, you can either buy the phone outright or sign up for a contract. With the contract, you’ll pay off the price bit by bit every month. This is great for people who can’t afford to pay the full price but can shell out a little extra money each month. Carriers usually give you the option to get a 2-year plan that gives you 24-months to pay off your phone. This is something that Verizon did, but according to the report, that’s no longer the case. Looking at a Verizon page, we see the option to pay full price for an iPhone and the option to get a 3-year plan.
What if you already have a contract?
This is a very weird move, as most people don’t even like being tied to a phone for two years. Locking a person to a 3-year plan seems to be pushing it. Fortunately, if you already have a 24 or 30-month plan, you won’t see any changes in your plan. If you get a 3-year plan with Verizon, there’s no way to upgrade your phone early. You will need to pay off your current plan in full, and there are no exceptions. You can do this by finishing off the full term or by paying off the rest of the phone’s worth.
Should you get a 3-year contract?
That’s a hard question to answer. A lot of techies have to stay at the bleeding edge of the latest trends, so a contract might not be the best thing for them. However, there if you’re a person who doesn’t really care about always getting the latest and greatest phones, you might consider it. The contract takes place over a longer timespan and that should shrink the monthly price just a bit. If can stay with the same phone for a while and want to save some money, it might not be a bad thing. The only issue is that if you want to get another phone, you will need to pay off the phone in full before getting another one.
