3 Replies Latest reply: Sep 21, 2012 8:08 AM by Spiral RSS

    How to get a new iPhone 5 16GB for $200 without a Contract

    clintster442

      I upgraded to the Droid Razr Maxx about 2 months ago.  I have decided that I want to switch to the iPhone 5 and was set on paying the $650 price then just selling my Razr Maxx on eBay to make up some of the cost.  I went to the Verizon store and told the guy there what I was doing and he suggested I do something else.  He suggested I add a line to my existing plan and get the iPhone 5 on it.  Then I can immediately 'suspend' the line for up to 90 days at no cost.

       

      Total cost: $199 + $30 upgrade fee plus tax, about $248

       

      Within the first 30 days, call and cancel the new line.  You will have a $350 early termination fee but you will not have any service costs since the line was suspended.

       

      Total cost: $248 + $350 = $598

       

      Then sell your old phone on eBay/Craigslist to cover the difference.  Of course, this will be a different amount for everyone.  SGSIII's and Razr Maxx's are going for about $400 - $450 used.

       

      Total cost: $598 - $400* (old phone) = $198

       

      New iPhone 5 without contract: $649 + tax, about $702 - $400* (old phone) = $302

       

      profit????

        • 1. Re: How to get a new iPhone 5 16GB for $200 without a Contract
          Tennis_pr0

          I did something similar.  I have the htc rezound, but not very happy with it and want the iphone 5.  My contract isn't up for about a year, so I was thinking of just paying retail and then selling my rezound on ebay.  The difference would probably be around 40 dollars or so. 

           

          So I went to the veruzon store and the rep said I could add another line.  I said I didn't want to pay for a line I'm not using, basically I just don't want my premium going up every month.  He then said I was not using that much data and I had an unlimited data plan, so he said I could reduce the plan size on the new "shared plan" to make up for the difference the extra line would cost.  The number came out to about 120 before tax, which is exactly how much I'm paying now.

           

          So that left me with the same monthly payment, but less data, which is fine because at my home and work I'm always on wifi anyway.  That now left me with just the 200 two year contract price, and that's about how much the rezound is going for on ebay, so I will sell that on ebay and that will cover the 200 dollars for the iphone 5.  So basically, same monthly premium and iphone 5 for free at the end

          • 2. Re: How to get a new iPhone 5 16GB for $200 without a Contract
            silver6056

            clintster442 wrote:

             

            I upgraded to the Droid Razr Maxx about 2 months ago.  I have decided that I want to switch to the iPhone 5 and was set on paying the $650 price then just selling my Razr Maxx on eBay to make up some of the cost.  I went to the Verizon store and told the guy there what I was doing and he suggested I do something else.  He suggested I add a line to my existing plan and get the iPhone 5 on it.  Then I can immediately 'suspend' the line for up to 90 days at no cost.

             

            Total cost: $199 + $30 upgrade fee plus tax, about $248

             

            Within the first 30 days, call and cancel the new line.  You will have a $350 early termination fee but you will not have any service costs since the line was suspended.

             

            Total cost: $248 + $350 = $598

             

            Then sell your old phone on eBay/Craigslist to cover the difference.  Of course, this will be a different amount for everyone.  SGSIII's and Razr Maxx's are going for about $400 - $450 used.

             

            Total cost: $598 - $400* (old phone) = $198

             

            New iPhone 5 without contract: $649 + tax, about $702 - $400* (old phone) = $302

             

            profit????

            What type of plan are you on?  If you are on an non-Share Everything, and have an old basic phone, it is even cheaper to add a new line, at $9.99 per month (+ tax), use that to get the subsidized iPhone (with a 2GB data plan), move the phone to the other line, activate the dumb phone, cancelling the data plan.   Even if taxes make it $12 per month, 12*24 is less than the $350 ETF.

            • 3. Re: How to get a new iPhone 5 16GB for $200 without a Contract
              Spiral

              clintster442 wrote:

               

              I upgraded to the Droid Razr Maxx about 2 months ago.  I have decided that I want to switch to the iPhone 5 and was set on paying the $650 price then just selling my Razr Maxx on eBay to make up some of the cost.  I went to the Verizon store and told the guy there what I was doing and he suggested I do something else.  He suggested I add a line to my existing plan and get the iPhone 5 on it.  Then I can immediately 'suspend' the line for up to 90 days at no cost.

               

              Total cost: $199 + $30 upgrade fee plus tax, about $248

               

              Within the first 30 days, call and cancel the new line.  You will have a $350 early termination fee but you will not have any service costs since the line was suspended.

               

              Total cost: $248 + $350 = $598

               

              Then sell your old phone on eBay/Craigslist to cover the difference.  Of course, this will be a different amount for everyone.  SGSIII's and Razr Maxx's are going for about $400 - $450 used.

               

              Total cost: $598 - $400* (old phone) = $198

               

              New iPhone 5 without contract: $649 + tax, about $702 - $400* (old phone) = $302

               

              profit????

               

              All that assumes you paid $0 for the Razr Maxx (current upgrade price $199.99).  Was this true?  That cost needs to be added into the equation. 

              Also you state you upgraded a few months ago, did you not enter into a contract then?  All you have done is swap phones on an existing contract that still probably has 18+ months to go.  Congrats on your $100 savings though.