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Iphones and Galaxy Notes are just getting way too expensive. Now the phones are leased and finances because people cant afford to buy them.
Just like cars...buy a slightly used phone for the various sites out there. The newer phones these days are simply not worth the upgrade cost. Save the money and don't sign any contracts.
The bad thing and good thing about the iPhone is that is does not depreciate as quickly as some of the other phones.
Keep in mind that it isn't the type of lease some of you are thinking of. It isn't like a car where after the payments are done, you turn the phone it. It is just a 0% interest payment plan and nothing more. Why pay 700 up front when you can spread it out over 30 months. After the phone is paid off, (from what I understand with ATT), they actually give a discount on the month service if you are no longer under contract.
If you want to upgrade a year or so later, you can get a new phone and the payment plan starts over. This could be determined as a lease since you do have to hand over your old phone, but you are not being forced to upgrade. They do waive the remainder of the monthly payments owed on the 'old' phone if you do upgrade.
The bottom line is the phone is not yours. Previously we used to pay $0-299 to upgrade and when I did it again in 2 years I kept the old phone. Now I have to give back a phone that is probably worth $200-$300 in order to upgrade.
I just seen it on my local news channel, couldn't find a legit link about it, but really? Why does someone elect to finance a dang CELL PHONE? If you can't afford to buy something like that outright, then you dont need it. Its like buying tires or rims on credit. The gotta have it now mentality is out of control. what really cracks me up is seeing people in the supermarket holding an iPhone 6 or any other newer smart phone and then paying for groceries with a food stamp card... some of those same people wearing name brand clothes and their kids wearing work out sneakers and crummy clothes....Hmmmm priorities mixed up much? I just dont understand this
Because Verizon and some other carriers are dropping monthly contracts that include a subsidy of the initial price, but a bloated series of payments that makes up for it. In effect the financing costs are being shifted from the carriers such as Verizon to direct financing payments. Old wine in new bottles.
The bottom line is the phone is not yours. Previously we used to pay $0-299 to upgrade and when I did it again in 2 years I kept the old phone. Now I have to give back a phone that is probably worth $200-$300 in order to upgrade.
I hate being locked into anything.
In my case my ATT bill dropped $70 a month when I switched from the previous subsidized plan to a mobile share plan. So over 2 years I save over $1500. That's enough to buy a phone cash every year.
I used to pay $89.99 for the phone plan. $30 for unlimited data on 3 lines, and $30 for unlimited text on the 3 lines. Now I pay $145 for the mobile share plan.
Im still using my Iphone 4s LOL works perfectly fine so why bother upgrading! I bought the phone 2 years ago for only $150.. No plans on upgrading anytime soon because I cant fathom spending over $200 on a phone that gets dropped on the ground all the time haha
I find it mind-boggling that people who fancy themselves financially savvy are up in arms about this.
This is something you could already do on the major carriers. And even before it become popular to separate the device from the service, you were still effectively financing the device - it was just rolled into the service cost and high early termination fees and you got no break on your bill after paying for two years.
Quote:
Originally Posted by jms493
The bottom line is the phone is not yours. Previously we used to pay $0-299 to upgrade and when I did it again in 2 years I kept the old phone. Now I have to give back a phone that is probably worth $200-$300 in order to upgrade.
Well, no, you don't have to give it back. You can pay for two years and keep it. Or you can pay for one year and hand it back in and get a new one.
I personally think the move to no-contract phones is great! I've been doing that for 4 or 5 years, and it's saved me $600-800/year. As an example, buying a $600 phone outright with a $30/mo T-Mobile prepaid plan over 2 years is $600+$720=$1320. Compare that to a contract plan with a phone at $200 and $80/mo with Verizon's cheapest plan, including corporate discounts. $200+$1920=$2120.
Savings = $800. Year 3 additional savings = $1040.
I just hope the carriers don't start creeping up the no contract monthly fees, but they will.
Just like cars...buy a slightly used phone for the various sites out there. The newer phones these days are simply not worth the upgrade cost. Save the money and don't sign any contracts.
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+1
I sold my iphone 5 on ebay for $220 and bought my 6+ used, in excellent condition for $520.
$300 up front for the phone and I get unlimited everything for $40 a month with straighttalk, no contracts.
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what really cracks me up is seeing people in the supermarket holding an iPhone 6 or any other newer smart phone and then paying for groceries with a food stamp card... some of those same people wearing name brand clothes and their kids wearing work out sneakers and crummy clothes....Hmmmm priorities mixed up much? I just dont understand this
