Originally Posted by khoikn
Okay, so with my Value plan after 24 months, the plan would drop to about $100.
With T-Mobile's financing, we pay an additional $40 ($20+$15+$5) a month for 24 months.
Which totals to $960 plus the down payment on the phones (79.99+149.99+39.99) = $269.97
$960+$269.97 = $1229.97 total paid for all 3 devices.
After that, I assume that the newest Galaxy S device in 24 months will cost $549.99 like it is on T-Mobile right now.
Compared to the unlocked model of the phone which costs around $609.99
In comparing plans, a comparable Classic Plan to the one I am currently using would cost around $165.99
My Value plan is $133.30 so that's a difference of $32.69 monthly with a total of $760.32 savings for 24 months.
So, with those savings, I have to have enough to purchase two new comparable smartphones and a feature phone?
Could someone please explain this to me?
I fail to see how we save money?
Your phones are financed and paid off in 20 months, not 24 months. Meaning your bill will drop after the first 20 months of your contract.
To figure out exactly what you're saving you need to tell us what type of features are on your plan (how many minutes, data, insurance,etc).
General rule of thumb is that pretty much all Classic Plan rate plans are $20 more expensive than their Value Plan counterparts.
For example: Let's say you wanted new lines, 3 Galaxy S3s on Unlimited Everything (including data).
You will pay $329.99 each upfront for all 3 phones $990. Your rate plan would be $229.98 for 24 months. This comes out to $6506.52 over the course of 24 months for the phones and service. You do get $50 mail in rebates for buying the GS3 on the Classic Plan so you can subtract $150 from the total.
You will pay $149.99 each upfront for all three phones ($450). Factoring in the additional $20 for 20 months on the phones, your rate plan would be $249.98 per month ($4,899.60 for the first 20 months). For the last 4 months after the $20 payments drop off your rate plan would be $189.98 per month ($759.92). Coming out to a total of $5,659.52 over the course of the 24 months for the phones and service.
Honestly there is no reason to ever choose the Classic Plan unless you're buying a feature phone because the phones only cost like $9.99.
Also when you set up a Value Plan the money that you're paying per month to pay off the phone goes to a credit line. So technically whenever you have a high enough balance of credit, you can get a new phone rather than waiting the whole 20 months like you have to on Classic. Like if you paid your bill for 12 months with the 3 GS3s and you wanted to get the GS4 next year, by that time you would have $720 of available credit for financing phones. This means you could pay the $199 down payment or whatever T-Mobile requires and get the GS4. It would just add $20 to your bill for the next 20 months of your contract.