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AT&T Announces 'Next 24' Payment Plan, Allowing 30 Months to Pay Off Devices

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Apr 12, 2001
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Announced today at the AT&T Consumer Industry Analyst Conference, customers of AT&T will soon have another payment option for their wireless phone bills called AT&T Next 24. The plan focuses on lower monthly payments on select phones in the AT&T lineup and a longer grace period to pay them off.

AT&T Next 24 is the newest addition to the company's Next program that allows customers to purchase qualifying smartphones for $0 down, paying the device off interest-free with monthly payment plans. AT&T Next 24 is a 30-month installment plan and joins the ranks of AT&T Next 12 (a 20-month installment plan) and AT&T Next 18 (a 24-month installment plan).

The new Next 24 plan is available for any current smartphone in AT&T's selection of devices, and the monthly installments can range anywhere from $10 to $50 depending on the phone selected. If in good condition at the 24-month mark, a device on AT&T Next 24 can be traded in for a qualifying brand-new phone.

For all plans included in the AT&T Next lineup, customers can save $15 each month on that smartphone's monthly access charge for plans less than 10GB, and $25 per month for plans 10GB or higher.

Beginning today, any customer who switches to AT&T and activates a new smartphone on AT&T Next will also receive a $150 bill credit.

The new AT&T Next 24 service launches November 9.

Article Link: AT&T Announces 'Next 24' Payment Plan, Allowing 30 Months to Pay Off Devices
 
Article Link
https://www.macrumors.com/2014/11/04/att-next-24/
Obviously luring in those who cannot afford these phones. Only to trap them with an agreement that binds them for a longer period of time. And just in time for the Holidays.
 
Sounds pretty cool actually. Lowers the monthly payment on a 0% interest financing loan. Want to upgrade early? Pay off the balance early. Easy peasy.

And that $150 bill credit per line will be nice.
 
The "next plan" is a joke. Anyone with elementary mathematics skill would find out after the 30-month period, it costs as much as if you purchase the phone directly off contract. Plus if you purchase the phone off contract, 1. you can get cash-back from major credit card companies so it is actually cheaper; 2. it is off contract which means you can switch to different wireless providers whenever you want, particularly useful if you travel a lot across continents.
 
AT&T Announces 'Next 24' Payment Plan, Allowing 30 Months to Pay Off Devices

I would jump on this if I could put money down on the device. I want to pay $300 down and then pay monthly installments until it's paid off.

Why this isn't possible is stupid. I want to pay up front. Not pay 6 months of payments later when I want to sell my phone after 24 months.

Let the customer determine when they want to be done with payments. It shouldn't be any different than a Car loan. I want to pay whatever I want, whenever I want. Just tell me when I need to be done by.

Next has a few more kinks to work out before they can fully ditch two year contracts.
 
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hkenneth said:
The "next plan" is a joke. Anyone with elementary mathematics skill would find out it costs as much as if you purchase the phone directly off contrast. Plus if you purchase the phone off contrast, 1. you can get cash-back from major credit card companies so it is actually cheaper; 2. it is off contrast which means you can switch to different wireless providers whenever you want, particularly useful if you travel a lot across continents.
Click to expand...

So, off contract works best, provided you fit within those two spots? Amazing.
The Next plan works great for me, since I can then upgrade my phone anytime after 12 months, which works out great because new phone every year. Or, if I don't want to upgrade, I pay off the phone and it's mine at the end of the term.
 
hkenneth said:
The "next plan" is a joke. Anyone with elementary mathematics skill would find out it costs as much as if you purchase the phone directly off contrast. Plus if you purchase the phone off contrast, 1. you can get cash-back from major credit card companies so it is actually cheaper; 2. it is off contrast which means you can switch to different wireless providers whenever you want, particularly useful if you travel a lot across continents.
Click to expand...


It's not 2012 anymore. The "Next is a joke" myth has been shot down hundreds of times on this board.
 
mercuryjones said:
So, off contract works best, provided you fit within those two spots? Amazing.
The Next plan works great for me, since I can then upgrade my phone anytime after 12 months, which works out great because new phone every year. Or, if I don't want to upgrade, I pay off the phone and it's mine at the end of the term.
Click to expand...

For me, I travel a lot to different countries. If I am in contract, my phone will be totally useless when I am out of the US. And if you add up how much you have paid in total at the end of the term, you would find you paid more than what you would have paid off contract.
 
hkenneth said:
The "next plan" is a joke. Anyone with elementary mathematics skill would find out after the 30-month period, it costs as much as if you purchase the phone directly off contract. Plus if you purchase the phone off contract, 1. you can get cash-back from major credit card companies so it is actually cheaper; 2. it is off contract which means you can switch to different wireless providers whenever you want, particularly useful if you travel a lot across continents.
Click to expand...

As a teacher my comment is that you only get 50% credit when you don't show your work. However if you had shown your work you would have realized that your statement is 100% incorrect, so no credit for this.
 
Terrific, now I can get a 30 month interest free loan from AT&T :D

It's not like I'd be going anywhere anyways, AT&T has the best service and rate plan combination for me. Verizon's EDGE only gives you the EDGE discount when you're actively financing a phone, AT&T's gives you the NEXT discount as long as you're not on a contract price phone.

Calculating the time value of money, a 30 month interest free loan would be cheaper than paying all that up front, so why not? And anytime I decide that I need to go international and need the phone unlocked, I'll just pay off the balance at that moment and then be done with financing that phone.
 
hkenneth said:
For me, I travel a lot to different countries. If I am in contract, my phone will be totally useless when I am out of the US. And if you add up how much you have paid in total at the end of the term, you would find you paid more than what you would have paid off contract.
Click to expand...
iPhone off contract cost - $749 (16GB)
iPhone on Next 12 - 37.50 X 20 months = $750.

Tell me, where am I paying more for the hardware?
 
bniu said:
Terrific, now I can get a 30 month interest free loan from AT&T :D

It's not like I'd be going anywhere anyways, AT&T has the best service and rate plan combination for me. Verizon's EDGE only gives you the EDGE discount when you're actively financing a phone, AT&T's gives you the NEXT discount as long as you're not on a contract price phone.

Calculating the time value of money, a 30 month interest free loan would be cheaper than paying all that up front, so why not? And anytime I decide that I need to go international and need the phone unlocked, I'll just pay off the balance at that moment and then be done with financing that phone.
Click to expand...

But I can get 10% cashback using my Discover card if I purchase the phone directly from Apple. If I get into the Next plan, I lose the 10% cashback. For a iPhone 6 64gb, it would be $75 in cashback.

----------
mercuryjones said:
iPhone off contract cost - $749 (16GB)
iPhone on Next 12 - 37.50 X 20 months = $750.

Tell me, where am I paying more for the hardware?
Click to expand...

Discover currently has 10% cashback if you purchase iPhone directly from Apple OFF CONTRACT.
 
Has anyone upgraded on this program after the first round (after 12 months) ? I assume they will roll the unpaid balance of phone #1 (the final 6 months of the 18 month payment period) onto the cost of the second phone purchased.

Seems like year #2 the amortized cost would start growing. If you do this again year 3 then it will get even higher.

If AT&T is not rolling the unpaid balance into the next year then that means consumes are getting the phones doe 33% off. Or maybe you have to pay off the balance at the time of upgrade??

Anyone know?
 
crunch the numbers...see what is best for you.

If I was on a higher data plan, the NEXT plans would be better but I (currently) don't use enough data to make the NEXT financially beneficial.

when doing the math, many of the 2-year contract, NEXT and Pay-all-upfront plans are almost identical.

and I am not a Carrier-Jumper, always looking to jump ship.
 
hkenneth said:
But I can get 10% cashback using my Discover card if I purchase the phone directly from Apple. If I get into the Next plan, I lose the 10% cashback. For a iPhone 6 64gb, it would be $75 in cashback.
Click to expand...

So, I can take the money that I would have paid for the phone and invest it in Apple stock for 30 months. I think I could get more than $75.

----------
jmcrutch said:
Has anyone upgraded on this program after the first round (after 12 months) ? I assume they will roll the unpaid balance of phone #1 (the final 6 months of the 18 month payment period) onto the cost of the second phone purchased.

Seems like year #2 the amortized cost would start growing. If you do this again year 3 then it will get even higher.

If AT&T is not rolling the unpaid balance into the next year then that means consumes are getting the phones doe 33% off. Or maybe you have to pay off the balance at the time of upgrade??

Anyone know?
Click to expand...

Actually you have two options. You can keep paying until it is paid for and keep the phone, or you just turn it in and they forgive the rest. I think it's pretty sweet.
 
Nunyabinez said:
So, I can take the money that I would have paid for the phone and invest it in Apple stock for 30 months. I think I could get more than $75.
Click to expand...

Yeah, theoretically you can, but only if you actually do so, you could then justify to use the Next plan. However usual person would not invest all the money they have saved to the stock market would they? And it is just $750 bucks for god's sake.
 
hkenneth said:
Yeah, theoretically you can, but only if you actually do so, you could then justify to use the Next plan. However usual person would not invest all the money they have saved to the stock market would they? And it is just $750 bucks for god's sake.
Click to expand...

I simply posted that to show that your statement that next is a joke because of some external deal that you have is really lacking in credibility. The next plan is financially equivalent to purchasing outright and whether it is better or worse for you depends on what you do with your money. Hardly making it a joke.
 
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