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I've decided to switch providers, and my Verizon contract will be ending in mid-March. My current phone is kind of broken and I'm eager to switch plans and get a new phone... however, I don't want to incur a heavy Early Termination Fee. Should I wait until the day that my contract expires, or would the Early Termination Fee be minimal at this point?
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Wait until the day your contract ends.
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I would wait til the day AFTER, just to be safe
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Yes, as the others have said, you should wait if at all possible. The reason is that the ETF isn't ever minimal.
For smartphones, it is $350 - $10*(number of months completed). Now your contract is done after 24 months, so there wouldn't be an ETF then, but you can see if it is just under the full contract period, the ETF would be near $350- $10*(24) = $110! (and in fact it would really be $10 more because they would only count 23 completed months.)
It would be much fairer if the ETF was calculated so it went linearly to 0 at 24 months, but there's not too much profit in being fair!
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Actually the first month doesn't count at all. It's because 14-30 days return period. I see where they are coming from you contract doesn't actually start until after the "grace" period.
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+ 1
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Hello mdiamond,
I'm very sorry to learn that you wish to parts ways upon termination of your wireless contract. We strive to provide the best options and support in the wireless industry. I would be happy to review alternative options with you. To further assist you please follow me MatthewS_VZW and then DM me with your contact information so I can spek with you directly, thanks!
MatthewS_VZW
VZW Support
Follow us on Twitter @VZWSUPPORT