I purchased a phone outright from a third party after my iPhone died one year in to my contract. After transferring my SIM from the Iphone to the Nexus, Verizon has extended my upgrade date out an additional year. Isn't the whole point of waiting two years for a phone upgrade based on the idea that you are paying off the phone as you go? The price is just mysteriously wrapped up in your monthly payment...
Based on Verizon's policy that I can upgrade my phone at any time, transfer to a payment plan for the phone and simply pay an additional $20 a month until the original contract is up, I would end up paying a total of $820 for a 16g iPhone 5, that at the time of purchase (iPhone 6 had already been released) retailed for $450. Someone please tell me this is a joke.