Because, I may or may not have $1000 available right now, but will overtime. Plus, I hold onto more of my money, versus spending it all at once. What happens if I needed $300 for a emergency car repair? Oh darn, I bought this phone off contract, so I could save $100.
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AT&T Announces 'Next 24' Payment Plan, Allowing 30 Months to Pay Off Devices
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Because, I may or may not have $1000 available right now, but will overtime. Plus, I hold onto more of my money, versus spending it all at once. What happens if I needed $300 for a emergency car repair? Oh darn, I bought this phone off contract, so I could save $100.
I'm confused by your comment. NEXT is 0% interest, but not $25 extra per month...it's $15/mo just like buying outright. And, you're not on contract with NEXT. You can quit before you pay the phone off, you just have to keep making your NEXT payments.
The cost of the phone is the same for NEXT vs buying outright.
There is NO DIFFERENCE between buying it outright vs. NEXT, except one empties your wallet all at once and NEXT makes it affordable for those that don't want to drop $1000 on a top of the line 6+, for instance and paying over time costs nothing.
Under the Next program, you trade-in your current financed device and purchase a new one. The residual value of the trade-in device forgives your remaining installment payments for that device. In other words, once you trade-in and upgrade, you are free and clear from that device.
Well Moneybags (I mean, Rafterman), why not use someone else's money for FREE? I'd rather use someone else's money than my own. I'd rather pay for a car in payments instead of outright, and my house...payments again!
For some, it allows them to buy an expensive phone, interest free. WHY NOT? Most people will keep the phone and service long enough to trade it in and get the next, newest thinner, faster, lighter iPhone.
I didn't think that MacRumors turned into financial advise services nowadays. I work in investment services, so I know what I'm doing with my money. Good for you that you didn't put a penny down on your car loan. I, however, like to put a down payment on a car regardless of the interest rate I get.
But hey, I'm glad you assume that I don't trust myself with my own money.
I didn't assume anything, I asked. Thus the question mark at the end of that sentence. Many people can't trust themselves with money, and if you're in investment services you probably know that.
Well, you could always put the money you don't spend into a savings account and earn interest.
I've read through just about every post so far, and I still don't fully understand how NEXT works.
My wife is on a legacy plan on AT&T. She has 450 minutes, unlimited text and 3GB data. We feel like we're overpaying but we don't know the best way to go. Her bill breaks down like this:
Nation 450 w/ Rollover = $40
DataPro 3GB = $30
Messaging Unlimited = $20
Corporate Discount = -$6
Total after fees & taxes = ~$92
Her actual usage is typically about 400 min, 2GB data (she's gone over 2 twice in the last 5 months), and 350 texts.
She is OK with upgrading her phone every 2 years. She has the 64GB iPhone 5S right now. She would like to upgrade her phone when the 6S (or whatever) comes out or she'd be willing to upgrade now if it made sense.
Any recommendations? She's been on AT&T for 12-13 years so she's prefer not to switch but we're considering it, just don't know what the reception/data quality is like on other providers where we are.
My wife is on a legacy plan on AT&T. She has 450 minutes, unlimited text and 3GB data. We feel like we're overpaying but we don't know the best way to go. Her bill breaks down like this:
Nation 450 w/ Rollover = $40
DataPro 3GB = $30
Messaging Unlimited = $20
Corporate Discount = -$6
Total after fees & taxes = ~$92
Her actual usage is typically about 400 min, 2GB data (she's gone over 2 twice in the last 5 months), and 350 texts.
She is OK with upgrading her phone every 2 years. She has the 64GB iPhone 5S right now. She would like to upgrade her phone when the 6S (or whatever) comes out or she'd be willing to upgrade now if it made sense.
Any recommendations? She's been on AT&T for 12-13 years so she's prefer not to switch but we're considering it, just don't know what the reception/data quality is like on other providers where we are.
People here can and will tell you the "best" plan for her to be on, but it might be the better route to go into an AT&T store and actually talk to a customer representative there. Let them know the situation, and they'll be able to work out what the best options are for her.
Ugh. I just worry that they're going to sell me something for the sake of commission. I haven't looked into the NEXT plans since they were announced and read about how much of a scam they were. But, the AT&T reps have a vested interest in getting me on one of those plans.
If she is just going to stay on the individual plan it is probably best to move to the newer plans. At $65 you get unlimited text/min and 3GB of data. This is with the Next plan (default $25 charge for a single line), so if you wanted to get a new phone you would just pay w/e the monthly installment price would be for the phone. So if I am not mistaken you could get a new phone now using Next and end up paying relatively the same amount as your paying now.
Unlimited Talk/Text and 3GB of Data: $40
Smartphone device line charge: $25
Corporate Discount: -$8
BYOD/Out of Contract: $57
New phone using Next: +~$30 monthly installment.
New cost with new phone: ~$87.
Go in knowing what you'd like to have and then work the plan around that. If she's gone over twice in the last few months, always go for the next plan up, if the cost works out.
Also, if you both are on AT&T and have phones, look into a Mobile Share plan. Might work out, depending on your circumstances.
AT&T is going to push your towards the Next plan, regardless, since it works out best for them, and you to a certain extent.
I have 2 iphone 6's on the next plan, it is cheaper than going the 2 yr contract route since I get the monthly discount on my AT&T service. I always have the option to pay it off in full with a credit card if I really want the cash back. However, 1300 dollar loan interest free for 2 years, I can invest that money and make more than the 10% back that discover would give me.
Hmmm. Maybe it is worth it. Here are my yearly estimates with a new device ($299 w/ contract; $750 NEXT):
Current Plant: $1158
NEXT 12: $1139 (37.50/month for device)
NEXT 18: $1064 (31.25/month)
NEXT 24: $989 (25/month)
Non-NEXT: $1038
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With all these things extremely finite lifespans & payment subsidies being so well engineered out, I don't know why they don't just call it a lease and get it over with already.
Do you have elementary mathematics skill?
I just paid off my NEXT plan and paid $849 for my 64GB 6 Plus.
How is it a joke again?
Do you have elementary mathematics skill?
I just paid off my NEXT plan and paid $849 for my 64GB 6 Plus.
How is it a joke again?
Agreed. HKenneth may be a self-proclaimed mathmetician, but doesn't have much sense. AT&T now gives $150 bill credit when you add a NEXT line to your plan. I doubt his CC company is giving him $150.
Somehow, he thinks NEXT is supposed to be cheaper than buying outright, but that is not what NEXT is. It's the same price as buying outright, plus you can trade in early and get a new phone. At no time are you paying more than buying outright. It's just a zero interest payment plan. (and now, with $150 bill credit).
Also, NEXT is NO CONTRACT, also. He's just completely wrong on all counts.
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Another question. Everyone knows that iPhones retain a fairly high resale value. The last two times I have upgraded, I have sold my 2-year old iphone for nearly half the cost of the upgraded phone (with the contract, not full price).
So let me know if I understand it correctly. If I have the Next 18, I can exchange my current phone for a new phone at 18 months. Or, at 24 months when it is paid off, the phone is mine. At that time, I could upgrade to the latest phone and continue on Next making payments and I could also sell my old iPhone myself.
So let me know if I understand it correctly. If I have the Next 18, I can exchange my current phone for a new phone at 18 months. Or, at 24 months when it is paid off, the phone is mine. At that time, I could upgrade to the latest phone and continue on Next making payments and I could also sell my old iPhone myself.
Yes. After you have completed your obligation, the phone is paid off and is yours.
Next plans are for people who don't want to sell their phone via Craigslist or eBay. But hey, if you don't want the hassle, Next it!
But I find it to be a *horrible* idea for me. So I pay like $30/month for my iphone for a year, $360 total, then give it back to AT&T? Ummm, its only depreciated about $150. So in effect, I lose $200. Yeah, I don't so. Not for me. I like being in control even if that means meeting someone at a Starbucks to sell my pretty new and valuable iPhone that's 1 or 2 years old.
Plus I'm on the old Unlimited Data Plan and paying $90 a month (with corp/FAN disc) for TWO unlimited lines (~105 with tax). Until a mobile share plan comes even close to that, I'll stay put. My guess is that within 10 years unlimited's 5GB throttle free offering will be paltry - unless 5G gives you more throttle-free gigs, or the FTC sues the throttle off of AT&T's unlimited plans
But I find it to be a *horrible* idea for me. So I pay like $30/month for my iphone for a year, $360 total, then give it back to AT&T? Ummm, its only depreciated about $150. So in effect, I lose $200. Yeah, I don't so. Not for me. I like being in control even if that means meeting someone at a Starbucks to sell my pretty new and valuable iPhone that's 1 or 2 years old.
Plus I'm on the old Unlimited Data Plan and paying $90 a month (with corp/FAN disc) for TWO unlimited lines (~105 with tax). Until a mobile share plan comes even close to that, I'll stay put. My guess is that within 10 years unlimited's 5GB throttle free offering will be paltry - unless 5G gives you more throttle-free gigs, or the FTC sues the throttle off of AT&T's unlimited plans
It works out the same, pretty much. So, if you subsidize your phone, you are paying $25 extra a month per line. Now, you have to sell the phone after a year in order to upgrade. So, you make what? $400-500 on the phone? But now, you have to pay full retail price for your upgrade, since AT&T is no longer doing early upgrades on 2 year contracts.
With Next, I pay $360, and then turn it in and get a brand new phone, without having to pay a thing (no tax either).
If you are one of the kinds of people that likes a new phone every year, Next is the way to go.
Because you want to sell your iPhone on CL after 1 year of ownership doesn't make the NEXT plan a bad deal. It's only a very small percentage of people would want to switch to a different phone after a year.
For those who want to pay for their phone in small payments, zero interest, and get a $150 bill credit, the NEXT plan is a win-win.