They're already implementing this stupid structure. If they are going to eventually force us to use this instead of 2 year contracts, they should let me pay off my phone however I want. If I want to put $300 down and pay the rest off monthly, or if I want to put $0 down and pay it off, it shouldn't matter.
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AT&T Announces 'Next 24' Payment Plan, Allowing 30 Months to Pay Off Devices
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They're already implementing this stupid structure. If they are going to eventually force us to use this instead of 2 year contracts, they should let me pay off my phone however I want. If I want to put $300 down and pay the rest off monthly, or if I want to put $0 down and pay it off, it shouldn't matter.
This!! I priced out doing the 15GB (would be 30GB with the current double-your-data promotion) mobile share plan both with AT&T next and without it, which would be committing to a 2-year contract. They are essentially the same price either way. Not to mention if I switched to this plan my bill would go up $60 from what it is now. The only time you actually save money is if you pay off the phone and decide not to upgrade.
Remember - phone companies are in the business to make money. So the AT&T commercials advertising their "best-ever pricing" is BS... at least for me and my family (4 total lines).
You. Can.
It just won't retroactively lower your monthly payment. You will just have to make less monthly payments.
If it doesn't lower your payments then it's pointless.
Like I've said, the program needs more work before it's ready to be the only option.
Some cash-back might be seasonal. For Discover, the 10% cash-back is only for Oct-Dec 2014 (5% for any online shopping + additional 5% from Apple official website).
Well of course it does. It's currently not the only option, and I'm sure we'll see more changes over the years.
It isn't pointless if you're planning on paying for your phone in full but just can't afford it yet. I do the same thing on T-Mobile, and if I have extra money here and there, I put it towards my phone. I do this because I plan on owning the phone myself, but being able to resell it or keep as a backup if I get a new iPhone.
There's a difference between pointless and not suitable for you. It's possible to think about real-life applications of things without necessarily applying it to your own personal livelihood. Sort of like math class!
I earn a decent income and never carry any balance. I use credit cards mainly for the security reason, and its cashback from time to time to save some money. Credit cards are not for loaning money. If you know you could not avoid carrying balance, then do not spend the $750 on a smart phone at first place.
... or use programs like Next to set up interest-free financing.
Dude, you're still thinking solely based on your own needs, rather than considering the different scenarios other people might be in. Yes, I agree it is very responsible to buy only what you can pay for. But what programs like Next do is provide an option for those who can't immediately afford $750 because they don't have a decent income, by letting them pay for the whole phone over long term - as well as giving a leasing alternative in case they want to upgrade.
But that doesn't matter, of course, because you apparently believe those with lesser income don't deserve smartphones.
They tried hard to get me to move from my current unlimited data plan to a Next 18 plan. It was tempting but 1gb of data was a deal breaker. This Next 24 would be tempting also but 1gb of data is still a deal breaker.
My original statement is to point out that what AT&T is advertising as if you can save money by using the Next plan is incorrect. I gave an example merely to show why purchasing the phone just off contract could be cheaper than the Next plan (not to mention the advantage of being able to switch providers at any time). I am not saying such approach is suitable/necessary for everyone. Just don't expect you can save more money by using the Next plan (which is how AT&T advertises on their website).
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You can make payments anytime toward the phone balance at any ATT store. Why dont you just get the device and then make a 300 dollar payment??? I know this is possible because I had to pay off 2 payments worth prior to getting my 6 Plus on launch day.
ATT is offering an interest free loan at their terms. If you are disciplined you are free make your own payment schedule.
A $750 phone is going to be $25 a month for 30 months. ($750 divided by 30). Don't put the $300 down but draw off of it to decrease your monthly payments to what you want. You want $20 for 24 months? At the end of 24 months you would have drawn $120 out of your $300 ($5 X 24) and have a balance due on the phone of $150 ($25 X 24). You balance remaining of your original $300 is $180 ($300 - $120) Which you use to pay off the phone.
Because it doesn't adjust your monthly payments. I'd like to have my monthly payment adjusted if I make a down payment.
I highly doubt AT&T is going to do that, based on the amount of customers that they have. Much easier for them to simply calculate what you have left to pay, based on the overall price left, which is the same for everyone, based on the overall price of the phone and the length of time you choose to pay.
Except.. it's not. There is no contract. You can pay off the device anytime you wish, so it's just an interest free loan.
So you'd like to continue making the exact same amount of monthly payments, but just pay less? It's $20-$25 a month, as somebody else said. Pay it off sooner.
The reason you normally see adjustment on payments of OTHER items is because there is interest. If you pay more, there should be less interest you're paying moving forward. There is no interest on Next, so you pay what you agreed to pay, and if you want to pay more, you can pay more and get it over with sooner.
I'd also like a lot of things that involve reality distorting itself around my every whim, but that doesn't mean it needs to happen.
Not true if you decide to upgrade you would turn in the phone and that pays off what you owe left and then you start new with the new phone.
But why would they since it's so easy for you to do it. We are talking $5 a month here. What if I want to save $1 or even just a penny a month? Why ask them to accommodate that?
No, it really isn't. You're not paying interest. You're agreeing to payment terms defined by whether it's Next 18 or 24 or whatever, and you're free to get out of those terms as soon as you'd like by paying in full.
As you are not being charged interest, there is no need for an automatic adjustment. You want to put $300 down and make smaller payments over the remainder of the term? Why? So it's more affordable every month? We're talking about paying part of the cost up front, so clearly this scenario has a bit more disposable income than what I'd expect from somebody who can't afford a few extra dollars a month.
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Well there's your problem: You're paying for four phones a month by yourself. If you can afford putting $300 down on four phones each, I have a feeling that $50 a month won't set you back that far.
Sorry, I'm not following what you're saying. You have 4 phones and $1200 to put down?
This is a great point and I'm honestly ashamed I didn't think of it already.
Carriers may provide alternatives to contracts now, but they still want you as a customer. They're providing us flexibility, but not to the point where it would potentially detract from their customer base. They're selling a service. Phones are just an extra source of revenue to the carriers, and are nowadays just a means of keeping current with the competition. And yes, sadly, that means keeping some customers who aren't pleased with their service around for a bit longer.
Even T-Mobile doesn't adjust the monthly installment if I pay more up front.
Or, if you put down $300, that takes off x amount of months that you have to pay on it. They are already doing the math for you. You just want them to do it differently then they already are.
If you want to put $300 down at the start, why not simply pay the subsidized price on a 2 year contract? Then, your monthly cost will be $25 extra per line? (Next/off contract $15/month - 2 year contract $40/month)