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Just curious, are most people on the device payment plan or are people still doing a 2 year contract? I'm still on a 2yr contract (which is up in May) and want to know if device payment is worth it. What's everyone's experience?
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Here's the rub: On contract you pay $20 more a month in line access fees. On a device payment plan, you pay $20 plus the monthly cost (total price divided by 24 months) of the device.
In this way, a $200 phone won't cost as much as a $700 phone. A $200 phone would cost $8.33 a month and the $700 would cost $29.10.
So, a contract customer might pay $40 for either phone a month while the DPP customer would pay $28.33 or $49.10.
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Here's the rub: On contract you pay $20 more a month in line access fees. On a device payment plan, you pay $20 plus the monthly cost (total price divided by 24 months) of the device.
In this way, a $200 phone won't cost as much as a $700 phone. A $200 phone would cost $8.33 a month and the $700 would cost $29.10.
So, a contract customer might pay $40 for either phone a month while the DPP customer would pay $28.33 or $49.10.
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You must calculate each case as the example above by Snn5 shows it could be better for contract sometimes and at other times device payment plan.
A Quick check is to add $480 to the contract phone price ($20 X 24). If that is more than device payment retail price, go with device payment plan. If it is less, consider contract.