Is there a cost savings buying a contract-free phone with Verizon?

[smirk]

Hi there, a friend of mine recently suggested that I buy my iPhone 5 contract-free and go month-to-month on Verizon, as I would save money over two years. This is compared to the standard two year contract where the phone is subsidized. Is this true? From the research I have done I've never seen this recommendation before.

I just have a dumb phone right now with no plan, so there are no grandfathering issues.

Thanks!

 

[GoCubsGo]

Nope. You're paying the same price for voice and data as those who paid for their phone at the subsidized price. Ask you buddy to explain further. I simply don't see it.

 

[Ivabign]

I haven't heard of a discounted plan (minutes/data) for people who own their phones outright - the benefit is being able to stop your service at any time without penalty.

 

[darster]

Misread original post. No savings unless you choose to go to different provider with your unlocked phone with no contract.

 

[Shorties]

The only thing I know about with Verizon is if you have grandfathered unlimited data plan, you get to keep it if you buy your new phone contract free. But it doesn't sound like you do, so I don't think that will help you.

 

[smirk]

Thanks everyone, I appreciate you taking the time to help me out!