this post was submitted on 28 Mar 2024
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So Verizon gave you a phone for no upfront cost, and they're shitty for making you pay for it if you decide to dash away early?
Fascinating threshold for shitty behavior you have.
I can't believe people still do that. You aren't saving money and you're locked in 2 years. I guess if that's that only kind of financing you can get.
If the phone costs $500, they simply increase your monthly bill by $500 / 24 months = $20 a month.
It's a bit more complicated than this, and they'll likely have some interest built in as well, but functionally, it's no different than being given a loan to buy the phone and then paying the loan off over the two years. That's why carriers often require a credit check before doing this.