So I do not understand the payment plan for whatever reason, I just cannot understand it in my own research. Basically, I am due for an upgrade from iPhone 5S to 6S (was on 2 yr plans). Online says I am due the 22nd but Verizon in store tells me I am ready now? Regardless, how do I upgrade on saturday for the new iPhone?
Also, people are saying that the new iPhone will be about 27/month for the 64gb but paid for 24 months? That equals the retail price of a phone... do I no longer get to pay 299 for a 64GB new iPhone at the end of my contract?
I can only imagine I am not understanding all of this, otherwise I will have to continue thinking this is all a ripoff!
As far as the device payment plan (or the payment plan option Apple is offering) yes, you would be agreeing to pay full retail. You can choose to upgrade with another contract and receive a subsidized phone but you wouldn't be able to do a payment plan. You would have to pay the full amount at purchase (meaning the full 2 year subsidized amount). Hope that makes sense.
The reason it is not the big rip off it seems at first glance is you are not considering 2 important facts. First is there is no $40 upgrade fee. And most importantly, instead of paying $40/month line access fee with contracts, you will pay only $20 line access fee, savings $20 per month. $20 per month saved for 24 months plus the $40 upgrade fee saved is $520 saved over 24 months. No add in the $299 you would have paid up front and you are at $819 paid for the phone on contract --- right about where you are on payment plans. In most cases you will save a bit with the payment plan over 24 months actually.
What you didn't realize is you were always paying the full cost of the phone, one way or another. It was just hidden in higher access fees, rather than upfront like it is now.
Honestly, I have been on a family plan for so long that I don't even know what is being paid anymore, which is probably not good but this does make sense so thank you for your help.