Is it cheaper to buy out a phone contract with Verizon or buy the new iPhone outright

metzy25

macrumors 65816
Original poster
May 7, 2011
1,018
38
I just want to see if anyone on here has experience of either buying out a contract and starting a new one and paying the $200 or if it would be cheaper buying the new phone out right, I have until December on this contract as well if that matters. Anyone?
 

mattopotamus

macrumors G5
Jun 12, 2012
13,285
3,432
if you plan on going with a different carrier like straight talk, it will save you money to outright by the phone b.c you will only pay $45 a month for unlimited everything.

someone in another thread posted that if you try to cancel and sign a new contract to save money, they make you wait 30 or 60 days before you can re-sign up.
 

Diseal3

macrumors 65816
Jun 29, 2008
1,061
46
You can't buy out a contract sort of speak. If you port your number (effectively terminating your contract and being charged ETF) Verizon will not consider you a new customer for 90 days (correct me if time is wrong) not giving you a subsidy on a new device.
 

metzy25

macrumors 65816
Original poster
May 7, 2011
1,018
38
I have two lines on my plan, I would pre order the new iPhone starting a 2 year contract, and then a few days after go in a buy out the phone Im using. I would only be be buying out this number. How wouldn't they let me buy out the number I'm using now after I sign a two year?
 

mattopotamus

macrumors G5
Jun 12, 2012
13,285
3,432
I have two lines on my plan, I would pre order the new iPhone starting a 2 year contract, and then a few days after go in a buy out the phone Im using. I would only be be buying out this number. How wouldn't they let me buy out the number I'm using now after I sign a two year?
that actually is a really good idea, and kind of a way around the system. Do they let you open multiple accounts with the same name and information though?
 

Diseal3

macrumors 65816
Jun 29, 2008
1,061
46
I have two lines on my plan, I would pre order the new iPhone starting a 2 year contract, and then a few days after go in a buy out the phone Im using. I would only be be buying out this number. How wouldn't they let me buy out the number I'm using now after I sign a two year?
Ok if you plan on doing this was a family plan it shoulden't be an issue. Only a problem if it were an individual line.

Price of ETF on Verizon is $350 minus $10 for each month of contract you fulfill.

So assuming the following:

16 GB : $200 + $350 = $550

32 GB : $300 + $350 = $650

64 GB: $400 + $350 = $750

ETF has to be paid otherwise Verizon blacklist's the phone. Also I heard of some policy change with the new share everything plan that is supposed to make this more difficult so hopefully someone can chime in on that.
 

dukebound85

macrumors P6
Jul 17, 2005
18,111
1,319
5045 feet above sea level
Ok if you plan on doing this was a family plan it shoulden't be an issue. Only a problem if it were an individual line.

Price of ETF on Verizon is $350 minus $10 for each month of contract you fulfill.

So assuming the following:

16 GB : $200 + $350 = $550

32 GB : $300 + $350 = $650

64 GB: $400 + $350 = $750
+ the one month of service and activation*

*thanks mattoptmus for reminding me on activation
 

metzy25

macrumors 65816
Original poster
May 7, 2011
1,018
38
Ok if you plan on doing this was a family plan it shoulden't be an issue. Only a problem if it were an individual line.

Price of ETF on Verizon is $350 minus $10 for each month of contract you fulfill.

So assuming the following:

16 GB : $200 + $350 = $550

32 GB : $300 + $350 = $650

64 GB: $400 + $350 = $750

ETF has to be paid otherwise Verizon blacklist's the phone. Also I heard of some policy change with the new share everything plan that is supposed to make this more difficult so hopefully someone can chime in on that.
So I'd be paying around $520 and then $550 with tax since I would only have 3 months left?

----------

You have to fulfill one month of service before able to ETF
I'd be using the new phone line I signed up for and using the etf on my line I'm
Using at the moment.
 

mattopotamus

macrumors G5
Jun 12, 2012
13,285
3,432
So I'd be paying around $520 and then $550 with tax since I would only have 3 months left?
i think he was confused about what plan you were canceling.

you would pay $325 - $210 to cancel, since you fulfilled 21 months of your contract.

I don't think you could sign up with your same info though. Like they would not let you be a new customer with the same information as your old account. Someone would have to do it for you.
 

metzy25

macrumors 65816
Original poster
May 7, 2011
1,018
38
i think he was confused about what plan you were canceling.

you would pay $325 - $210 to cancel, since you fulfilled 21 months of your contract.

I don't think you could sign up with your same info though. Like they would not let you be a new customer with the same information as your old account. Someone would have to do it for you.
You mean +$210?

----------

i think he was confused about what plan you were canceling.

you would pay $325 - $210 to cancel, since you fulfilled 21 months of your contract.

I don't think you could sign up with your same info though. Like they would not let you be a new customer with the same information as your old account. Someone would have to do it for you.
I would just be adding another line
 

mattopotamus

macrumors G5
Jun 12, 2012
13,285
3,432
You mean +$210?

----------



I would just be adding another line
then i guess that would work like i described. You would just have to pay the $325 minus $210 to cancel that old line. Honestly, they may let you upgrade since that is so close to the 24 month mark. The main thing they changed this year with upgrades (or so the rumor is) that they will not let you upgrade for $199 when you are only a year into the contract. In the past they would let you.
 

mattopotamus

macrumors G5
Jun 12, 2012
13,285
3,432
What do you mean by $325 minus $210?
the ETF is $325 and you subtract $10 for each month of the contract you have fulfilled. You said you would only have 3 months left when you plan to cancel, so that would mean you fulfilled 21 months = $210 off the ETF price.

oh well it is $325 with att and $350 with verizon, so $350 - $210.

for your new phone you would pay

$199 for the phone and $140 for ETF on the old line.
 

metzy25

macrumors 65816
Original poster
May 7, 2011
1,018
38
then i guess that would work like i described. You would just have to pay the $325 minus $210 to cancel that old line. Honestly, they may let you upgrade since that is so close to the 24 month mark. The main thing they changed this year with upgrades (or so the rumor is) that they will not let you upgrade for $199 when you are only a year into the contract. In the past they would let you.
Yeah that's what I was hoping for bu I wasn't sure. If not I'll do it the way with buying out my contract.

----------

the ETF is $325 and you subtract $10 for each month of the contract you have fulfilled. You said you would only have 3 months left when you plan to cancel, so that would mean you fulfilled 21 months = $210 off the ETF price.

oh well it is $325 with att and $350 with verizon, so $350 - $210.

for your new phone you would pay

$199 for the phone and $140 for ETF on the old line.
Alright I get it now, man I'm stoked.
 

Arelunde

macrumors 6502a
Jul 6, 2011
980
28
CA Central Coast
If you have an additional line on your account - one without a contract using, say, an old flip phone - you should be able to upgrade by shifting that phone's upgrade to your existing line that's still in contract. This will re-initiate your contract to a full 2 years.

This is what I plan (hope) to do. But Vz changes the rules so often, I'm keeping my fingers crossed that I don't have to keep that flip-phone line afterwards - or that they will even let me upgrade using the flip-phone's eligibility. I'm almost afraid to ask... but will when the iPh 5 is available.
 

metzy25

macrumors 65816
Original poster
May 7, 2011
1,018
38
If you have an additional line on your account - one without a contract using, say, an old flip phone - you should be able to upgrade by shifting that phone's upgrade to your existing line that's still in contract. This will re-initiate your contract to a full 2 years.

This is what I plan (hope) to do. But Vz changes the rules so often, I'm keeping my fingers crossed that I don't have to keep that flip-phone line afterwards - or that they will even let me upgrade using the flip-phone's eligibility. I'm almost afraid to ask... but will when the iPh 5 is available.
I wouldn't be able to buy the new contract out tho.
 
Last edited: