Buy Phone Outright Vs Contract Verizon 2017 -

: Since you own the device immediately, you are not tied to a 24-month repayment schedule and can switch carriers more easily.

: Many of Verizon’s best deals (e.g., trade-in credits or "buy one, get one") are only available if you choose the DPP. These credits are typically applied to your bill over the 24-month term. buy phone outright vs contract verizon 2017

Today, your primary options at Verizon are buying a phone outright or using their financing program, known as the . Buying Outright Cost : You pay the full retail price of the phone upfront. : Since you own the device immediately, you

: Some third-party retailers or specific store policies may discourage or even block outright purchases because they prefer customers to use financing plans. Device Payment Plan (DPP) Today, your primary options at Verizon are buying

: It requires a large one-time cash outlay, but your monthly bill will be lower because it won't include a device installment charge.

: On many plans, using a DPP or owning your phone outright results in a lower monthly line access fee (often $20) compared to the higher fees ($40) associated with old two-year contracts. Summary Comparison Buying Outright Device Payment Plan (DPP) Upfront Cost Full retail price + taxes Taxes on full price + activation fee Interest Rate Monthly Bill Lower (Service only) Higher (Service + Installment) Ownership After 24 months (or when paid off) Promotions Common (Trade-in credits, BOGO) Carrier Tie-in None (can leave anytime) 24-month commitment for full credits

: You can pay off the remaining balance at any time to own the phone early. However, if you have promotional bill credits, paying off the device early or leaving Verizon will usually cause you to forfeit any remaining credits .