Full-price phone: monthly installments or pay in full?

[ergalthema]

I'm planning to purchase a S5 at full price in order to keep my unlimited plan. The Verizon rep acted like I could split the cost into monthly additions to my bill and still keep my plan. I'm curious if you would recommend that for any reason, instead of paying full price upfront. I have saved up enough money to pay in full, but spreading the payments out might be nice. I'm wondering if there are any advantages or disadvantages that I'm not aware of. (I'm not sure if there is any interest on the monthly installments - If so, I will definitely pay in full.)

 

[svensett]

I think they do tack on some interest or a convenience fee of some sort if you do the installments. I would confirm this with VZN, but pretty sure that is the case.

 

[Clementine_3]

They actually have 2 installment plans, did they say which they were offering?

Edge or a credit type plan? The true credit plan tacks a $2 fee on per month but you don't have to change plans.

 

[ergalthema]

They actually have 2 installment plans, did they say which they were offering?

Edge or a credit type plan? The true credit plan tacks a $2 fee on per month but you don't have to change plans.

I was thinking I would lose my plan if it was Edge, so I'm guessing the credit plan. It's looking like I'll just pay in full. Thanks for the info.

 

[Clementine_3]

You will lose unlimited on Edge but that doesn't mean that's not what they are steering you towards. Yeah, I'm cynical but I don't trust them

I'd think it would make sense to pay in full if you are able.

 

[gloriousnumber1]

Since you already have the $ saved out, I suggest buying it out right and being done with it. That way there is no chance of any interest, fees, or losing unlimited. I can speak for experience, the added $45+ per month really stings.

 

[trophynuts]

different question here. How much data do you use a month? Do you really need unlimited? So people don't realize how little data they use. I would look at your last 6 months usage and get an average. If you could get away with a data plan and have a little cushion (4gb plan) then just buy it on contract.

 

[ergalthema]

different question here. How much data do you use a month? Do you really need unlimited? So people don't realize how little data they use. I would look at your last 6 months usage and get an average. If you could get away with a data plan and have a little cushion (4gb plan) then just buy it on contract.

Someone told me about a promo where Verizon gives people a 6GB plan to upgrade from an unlimited data plan. I considered it, because I usually use around 3GB. However, I like the idea of not worrying about my usage, and I might end up traveling a lot or something where I would like more data. I also found out that some people really want an unlimited plan and I can probably sell mind for 100s of dollars if I decide to. I payed full price for the phone today.

 

[trophynuts]

problem solved lol

 

[ezflip]

Can one get the credit type installment plan online?