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cost of buying a phone out right vs. payment plan?

Member

I am in a plan that I make monthly payments of $27.08 for my Iphone 5 for 2 years which comes to $650.  If I had bought this phone outright how much would it have cost me?  Did I get screwed?

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Re: cost of buying a phone out right vs. payment plan?

Sr. Leader

Buying outright vs over 2 years is the same cost.  The costs are higher if you had renewed a 2 year contract with a $40 upgrade fee and a higher line access charge of $40 vs a More Everything plan using Edge (now device payment plan) payments.

So, in the end, Paying $650 now vs $650 over 2 years is the same.

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Re: cost of buying a phone out right vs. payment plan?

Member

I have 1 phone on my plan getting the $25 off edge smartphone access.  The other phone on my plan is the flat $40 line access charge.  Can I get that $40 reduced?

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Re: cost of buying a phone out right vs. payment plan?

Sr. Leader

No.  You must finish the contract on the 2 year subsidized phone first.  If that line is out of contract, you can change that plan to a new plan tomorrow or after, and it will be reduced to $20.

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Re: cost of buying a phone out right vs. payment plan?

Community Manager
Community Manager

We are dedicated to ofering you the best value at all times, vermonstor. When the iPhone 5 came out the 2 year contract pricing was $199.99 with a $40 upgrade processing fee for the 16GB model. Consider you would not be receiving the monthly access discount of up to $25.00 a month while on the device payment plan if you purchased at the 2 year price. This amounts to $600 credit over the course of 24 months while on the device payment plan. Looking at both rates it would be $239.99 on 2 year contract or $50 on device payment plan.


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