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

[mnsportsgeek]

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

Sorry, I'm not following what you're saying. You have 4 phones and $1200 to put down?

I'm speaking in hypotheticals. Just saying that we're not talking about $5 a month.

If a college kid get $300 for Christmas and wants to put that down on his phone to lower his monthly payment from $31.25 to $18.75, then that should be possible. It's not a ridiculous request.

It's a much easier selling point too. I would think AT&T would want to explain it like this. The early upgrade angle is the wrong angle to take. Only the tech nerds want a new phone every year. Give them the $25 line discount and tell them they can get their phone payment under $25 a month and people would jumping off the walls to "save" money. Most people wouldn't take the time to realize that they're not really saving money.

 

[mercuryjones]

I'm speaking in hypotheticals. Just saying that we're not talking about $5 a month.

If a college kid get $300 for Christmas and wants to put that down on his phone to lower his monthly payment from $31.25 to $18.75, then that should be possible. It's not a ridiculous request.

Or, he could pocket $100 and pay the $199 for the phone. He's still going to need to pay monthly data/voice charges regardless.

 

[mnsportsgeek]

Or, he could pocket $100 and pay the $199 for the phone. He's still going to need to pay monthly data/voice charges regardless.

Not if he's on his parents family plan and he's just on the hook for the phone cost.

Which is the large majority of college kids.

 

[joshdammit]

I'm speaking in hypotheticals. Just saying that we're not talking about $5 a month.

Oh, you're speaking in hypotheticals? So you just made that scenario up? Maybe stick to your own experience in this one case, since as you just found out, your made-up examples can easily be debunked. I'll show you right now:

If a college kid get $300 for Christmas and wants to put that down on his phone to lower his monthly payment from $31.25 to $18.75, then that should be possible. It's not a ridiculous request.

It is a ridiculous request, because if he's already affording the phone on a monthly basis, and has extra money to spend on it, he will still be paying less for that phone. I know you're trying to pull at heartstrings with the "college kid" (implied he's on a tight budget) routine, but if the college kid can afford $31.25 already, he can afford it whether he puts another $300 down or not. That $300 is still a boon to him because if he puts it down, that's less months he's paying $31.25.

To recap: He will be spending the same amount of money, either way and has already determined he can afford this expense.

Any other hypotheticals you want to waste our time with?

 

[mercuryjones]

Not if he's on his parents family plan and he's just on the hook for the phone cost.

Which is the large majority of college kids.

I meant, that the voice/data charge was not a factor, since it's needed regardless of contract/NEXT plans.
That said, your hypothetical situation tends to still mean that paying the $199 subsidized price would be best for him. Because with Next, he's still paying the tax on the phone and then putting what's left as a "down payment". Still cheaper for him to simply buy subsidized.

 

[kaielement]

Allegedly, Sprint is considering going "uncarrier" next year. Granted, it's lipstick on a pig, but it's a sign that T-Mobile is at least starting to change the market.

I have heard he same thing about att and verizon might go the same route and get rid of two year contracts all together. I would love to see this and love to see the reaction on customers faces when they are told they can't sign a new two year contract lol.

 

[topmounter]

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.

In other words we need more debt slaves to bolster our share price.

 

[joshdammit]

I have heard he same thing about att and verizon might go the same route and get rid of two year contracts all together. I would love to see this and love to see the reaction on customers faces when they are told they can't sign a new two year contract lol.

I would love it because it would teach people in general to appreciate their smartphones better. If more consumers are aware that the selfie machine they absentmindedly drop on the ground and shatter actually costs $500+ maybe they'd be a bit more careful.

Or they'd turn into the "FOR WHAT I SPENT ON THIS PHONE I SHOULDN'T HAVE TO DEAL WITH (trivial software issue)" type.

 

[MacTCE]

Great! More ways to keep us locked in a contract.

I think you really need to read and understand what the program is before you post.

 

[nburwell]

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.

I agree completely. I would have loved to put down $2-300 on my 6 when I purchased it this past weekend to lower the overall monthly payment I have to make. I will probably pay off my 6 completely within the next 6 months or so, but I would love to see AT&T make an option to put some money down rather than nothing.

 

[brentsg]

I agree completely. I would have loved to put down $2-300 on my 6 when I purchased it this past weekend to lower the overall monthly payment I have to make. I will probably pay off my 6 completely within the next 6 months or so, but I would love to see AT&T make an option to put some money down rather than nothing.

What difference does it make when there's no interest? The last car I bought was like 0.9% interest. I didn't put a penny down. Why would I, when the factory incentives were providing a nearly free loan? The longer I control my money, the more that I can do with it.

Is this just a situation where you have the money now, but don't trust yourself with it? Honestly this sounds like a different angle on what the auto dealers love, which is "payment buyers".

 

[ugahairydawgs]

This is where we are in the world now? People are financing cell phones?

 

[soheilk]

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.

Wow I guess the economy has really improved, I didn't know everyone can now afford to pay $700 for a phone!

As mentioned HUNDRED thousand times on the forums, everyone's situation is different. What might work for you might not be the best for others. Next is absolutely not a joke! It's exactly like financing a car (with 0% APR). But I guess you don't need to do this cause you buy everything in cash.

(Ironically, I am buying 2 iPhone 6s for my wife and myself using my Discover card to get 11% cashback and 1 year extended warranty )

 

[gaximus]

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?

16GB Off-Contract phone is $649

 

[brentsg]

Wow I guess the economy has really improved, I didn't know everyone can now afford to pay $700 for a phone!

As mentioned HUNDRED thousand times on the forums, everyone's situation is different. What might work for you might not be the best for others. Next is absolutely not a joke! It's exactly like financing a car (with 0% APR). But I guess you don't need to do this cause you buy everything in cash.

(Ironically, I am buying 2 iPhone 6s for my wife and myself using my Discover card to get 11% cashback and 1 year extended warranty )

Not to mention that a lot of people don't even know about the Discover cashback, nor does everyone have a Discover card. I do have one, but knew nothing about it.

 

[mercuryjones]

16GB Off-Contract phone is $649

Weird. Showed up as $749 for me.
Still, it's $649 vs $650. Is $1 the extra cost?

 

[jasonbogen]

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.

----------



Discover currently has 10% cashback if you purchase iPhone directly from Apple OFF CONTRACT.

It's an interest free loan and you can pay your bill with any card that gives you cash back. If you have $750 in cash to buy the phone, go for it. Otherwise it is a way many people can afford new phones now with a no interest loan. Don't get why this is so hard to understand.

 

[koa]

I'm speaking in hypotheticals. Just saying that we're not talking about $5 a month.

If a college kid get $300 for Christmas and wants to put that down on his phone to lower his monthly payment from $31.25 to $18.75, then that should be possible. It's not a ridiculous request.

It's a much easier selling point too. I would think AT&T would want to explain it like this. The early upgrade angle is the wrong angle to take. Only the tech nerds want a new phone every year. Give them the $25 line discount and tell them they can get their phone payment under $25 a month and people would jumping off the walls to "save" money. Most people wouldn't take the time to realize that they're not really saving money.

So hypothetically, the college kid is buying a $937.50 phone? You are jumping around with different figures and I assume timeframes. I get that you want ATT to cater to your desires or the desires of a college kid without his own plan who is on his PARENTS plan, but I don't see any advantage for ATT to do that.

Like you said, there are ways to "easily" do the same thing by personally managing your resources.

 

[gaximus]

Weird. Showed up as $749 for me.
Still, it's $649 vs $650. Is $1 the extra cost?

I'm not sure, I wasn't sure if the monthly payment changed with it being only $649 vs $749.

 

[JodyK]

Who came up with the name next 24 for a "30" month payment plan? Genius needs a raise!

 

[mercuryjones]

Who came up with the name next 24 for a "30" month payment plan? Genius needs a raise!

Pay attention to the way they do the plan.
Next 12 - 20 month payment plan, can upgrade 12 months into the plan
Next 18 - 24 month payment plan, can upgrade 18 months into the plan
Next 24 - 30 month payment plan, can upgrade 24 month into the plan.

So, stupid naming scheme now, or you just not paying attention?

 

[yg17]

This is where we are in the world now? People are financing cell phones?

People have always been financing cell phones. It just wasn't called financing.

When you paid $200 for a $700 iPhone and signed a contract, you were financing it by paying an inflated monthly price for service - you didn't think the carrier just ate the $500 difference, did you? The difference is, with the old model, the cost of the phone and service wasn't broken out on your bill, and worse, when you fulfilled the contract, your bill didn't go down.

With the new mobile share plans, monthly service is generally cheaper if you pay for your phone outright, bring your own, or are off contract. Finance the phone through Next and your bill will be more similar to what it was in the age of contracts. Next is just more transparent.

----------

BTW, people who actually have to use the Next plan to afford their new phone probably aren't going to be traveling "a lot across continents." But I suppose those dregs of society probably don't "deserve" an iPhone 6, do they?

A week after purchasing my iPhone 6 with Next I was in Europe with it, and I have 2 more trips planned in the next few months. It's not that I couldn't afford to buy outright, I could if it was the only option. But it's an interest free loan, why not use it?

But by all means, go ahead with your generalizations that everyone who uses Next must be poor.

 

[egeek84]

anyone know if those currently on a ATT next 18 plan can upgrade to the newer plan and have lower monthly payments but more months added on?

 

[koa]

People have always been financing cell phones. It just wasn't called financing.



With the new mobile share plans, monthly service is generally cheaper if you pay for your phone outright, bring your own, or are off contract. Finance the phone through Next and your bill will be more similar to what it was in the age of contracts. Next is just more transparent.

----------

Whether I finance through Next, bring my own or pay outright for my phone, my plan remains the same price.

Next has no activation fee. I don't know about bringing my own phone. It's getting harder to get ATT to waive that fee.

 

[DynaFXD]

Whether I finance through Next, bring my own or pay outright for my phone, my plan remains the same price.

I guess it depends on what plan you are on. On the family plans, it is $15 per device for bring your own or Next. Subsidized phones are $40 per month. So they are $25 more per month.

Next has no activation fee. I don't know about bringing my own phone. It's getting harder to get ATT to waive that fee.

I thought they did for Next. But maybe I remember incorrectly. I just added a 'bring your own' phone to our family plan over the weekend. There was no mention of an activation fee that old phone. Perhaps they just add it to my monthly bill. If so, I should have asked, I would have preferred to just pay the $40 there and then.