It wasn’t long ago that carriers in the United States tied device purchases to service contracts, forcing many customers to use a phone or a network that they might not have otherwise chosen. After some time, the devices and cell service were separated, but the carriers retained the prolonged instalment plans for phones and other products. Verizon is now scaling up its efforts in this area.
According to Droid Life (via Android Authority), Verizon has quietly cancelled its 24-month and 30-month contract choices for paying off devices, leaving only the 36-month contract option as the only remaining payment option. In other words, if you want to purchase a phone, tablet, mobile hotspot, or any other type of electronic device from Verizon, your only options are to pay the whole amount up front or spread the payment over three years. Furthermore, you still have the opportunity to pay down the remaining sum through an instalment agreement.
This adjustment comes after AT&T made the similar change last year, however T-Mobile appears to be selling the majority of their phones on 24-month contracts for the time being. It looks that T-Mobile is the only choice left if you want to purchase a phone from a major carrier with the intention of paying it off in less than three years and do so without using third-party financing.
“Your particular terms and payment amounts are provided in your initial statement and your equipment payment instalment agreement,” according to Verizon’s official FAQ. Before 2/3/22, if you had a 24-month or 30-month device payment plan, your conditions will remain the same.
AT&T and Verizon both launched their C-Band 5G networks in January, giving both carriers an answer to T-mid-band Mobile’s 5G network, which was launched in December. International air traffic was briefly disrupted due to fears about plane equipment interference during the rollout, which was a result of the initial issues.