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Contract is over, phone is paid for but price is not reduced

I understand that all carriers break the price of the phone down and charge it to the account in 24 installments but when the 24 installment payments are up the price of the plan stays the same. Why do I have to keep paying for equipment that I can keep without penalty by quitting my plan? Has there ever been a class action suit filed on this or will I be the first?

Comments

Xyvis

You can attempt to go through with a class action suit, but you will not get far. The customer agreement which you agreed to has an arbitration only clause.

Unlike other carriers Verizon doesn't break apart its pricing plans for those under contract and not under contract, the prices you see are the ones you pay.

Good luck

ttipgem

You won't "be the first" because you cannot file a class action suit against a cell phone company.

Read about the Supreme Court decision.

http://news.cnet.com/8301-30686_3-57403475-266/why-you-cant-sue-your-wireless-carrier-in-a-class-action/

Verizon_Support

Hello scrib132x!

I'd love to clarify the Edge program, which I assume you are speaking of, since you mentioned paying for the device over the course of 24 months. It's true, once the phone is paid for, the plan cost stays the same. You do own the device once paying it off, and would not have to trade it in. The Edge program is geared mainly towards people who want to have the latest and greatest equipment releases, but once 50% of the cost is paid, the device can be Edged up. This means that you trade in the device and are able to get a new one. However, if you've paid off the full amount of the phone, it's yours to keep and does not have to be traded in. I hope this helps!

ChristinaB_VZW

VZW Support

Follow us on Twitter @VZWSupport

SuzyQ

scrib132x wrote:
I understand that all carriers break the price of the phone down and charge it to the account in 24 installments but when the 24 installment payments are up the price of the plan stays the same.

This is where your "understanding" is flawed. Verizon gives you a substantial discount on the price of a phone (several hundred dollars) in return for you signing a contract agreeing to keep service for 2 years (2-yr contract pricing). Your monthly cost is for the service, not the phone. Technically, once you pay the 2-yr contract price, you "own" the phone and can sell it, keep it, swap it - it's yours. That's how it's worked in the past. And your service cost does not change - it's the same for contract and non-contract accounts.

With the newer EDGE agreements, you are paying a separate device cost in addition to the service cost, and you do no "own" the device until it is fully paid for, or you trade it in once 50% is paid and you "edge up" to a new device - it's a lease program and you may never own the phone.

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