Have to pay off phone if contract is cancelled?

skymack
Member

So right now I'm on my girlfriend's family plan as an added line without a contract because I added a phone I already had. I believe if you add a line without having a phone, you'll have to begin a contract and get a new phone through Verizon (correct?). If I decide to start a contract under the family line so I can get a new phone and I cancel the contract (and pay the termination fee) before the 2 years is up, do I have to pay for the entire phone also?

Three more questions:

  • Does Verizon offer 1 year contracts?
  • Can I trade in my S4 that I already own that's on the line towards credit?
  • If I decide to cancel my contract, will the fee be lowered/waived if I switch the phone straight to Verizon Prepaid?

Thanks in advance

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Re: Have to pay off phone if contract is cancelled?

Weth
Sr. Leader

If you get a phone under contract and cancel early, you pay the ETF. That ends your obligation. You do not have to pay off the phone, and you do not need to return the phone. If you get a phone under the Device Payment Plan, you must pay off the phone when you cancel and there is no additional termination fees. You get to keep the phone. There is no option to give the phone and leave.

There is no 1 year contract.

You can trade in your previous phone, but it is a separate transaction, you do not get an immediate credit toward a new phone, but rather will get a Verizon gift card to use at Verizon.

The fee will not be waived, since you did not meet your contractual obligations for that contract, which requires keeping the phone on that post paid account.

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Re: Have to pay off phone if contract is cancelled?

Weth
Sr. Leader

If you get a phone under contract and cancel early, you pay the ETF. That ends your obligation. You do not have to pay off the phone, and you do not need to return the phone. If you get a phone under the Device Payment Plan, you must pay off the phone when you cancel and there is no additional termination fees. You get to keep the phone. There is no option to give the phone and leave.

There is no 1 year contract.

You can trade in your previous phone, but it is a separate transaction, you do not get an immediate credit toward a new phone, but rather will get a Verizon gift card to use at Verizon.

The fee will not be waived, since you did not meet your contractual obligations for that contract, which requires keeping the phone on that post paid account.

View solution in original post

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Re: Have to pay off phone if contract is cancelled?

Snn5
Sr. Leader

To add to Weth's response,

I understand you are not under contract.  I would keep it that way and buy a phone outright and full price if you needed and upgraded phone.  But, here's some more info nonetheless.

Speaking to the future:

This might mean nothing or it might be important to you, but when you cancel the line then you lose your number.  Also, trade-in value for the S4 with Verizon is nill and you still have to wait for them to receive and evaluate the phone before sending you the gift card or applying a credit to your account, whichever they are doing at the time.  Selling the phone on Swappa would make more money.  You would be without a phone either way. 

Talking money...canceling a contract and the amount of the ETF VS the cost of a replacement phone for Prepaid is a personal preference I guess.  If you decide to cancel contract services and go to Prepaid, you'll need a phone before starting service.  You'll have a new number as well.  If you go Prepaid, you might as well stick to the S4, unless you have money enough to buy a Verizon Prepaid phone, which won't be near what the S4 is, or buy from a reseller online or elsewhere.  You still have buying, bidding, and shipping time to consider when buying elsewhere.  Hard to really win when there are ETFs involved. (depending on amount)

Contract or postpaid plans versus Prepaid plans is a preference as to the features and support you want.  I am happy with Prepaid, but I don't require all the features in the postpaid More Everything plans.  But, don't forget the out of contract discounts on More Everything plans including BYOD.

So, in the end some might say stick with what you have and if you like the plan just buy phones compatible with Verizon from wherever.  If one day you want your own line and account, you can cancel that line with no ETF and start new with your own, or if you want to keep your number and take over the line, an Assumption of Liability can be done.

It wouldn't be you starting the contract under the family plan, that would be up to the current account owner.  If they started a separate contract for you under their account, they would be liable for whatever choices you made.

The present:

Some might say stick to what you are doing with no contract, buy a phone full cost if you need an upgrade, or have the account owner cancel your line while out of contract and let you start your own line, or, if you just have to keep your number, perform an AOL.

(that got lengthy)