Upgrading to Note 8 - What happens to my contract

I have been with Verizon for six years and have always had a 2 year contract. I am thinking about upgrading to the new Note 8, as my Note 4 is really showing its age. I was looking at the phone on Best Buy and it is $32.75 for 24 months. I get the feeling that this is not a contract price. If I go with this deal, will I still be able to keep my 2 year contract? Is it even possible to get this phone on a 2 year contract?

Thanks

Accepted answers

tikibar1

The option for two-year phone contracts ended in January 2017; devices purchased through VzW are now either via the Device Payment Plan or at full retail.

All comments

tikibar1

The option for two-year phone contracts ended in January 2017; devices purchased through VzW are now either via the Device Payment Plan or at full retail.

usmaak

Verizon doesn't have contracts anymore? And if there aren't new contracts any longer, does that mean that they're not grandfathering those with long standing contracts?

tikibar1

There weren't any "long-standing contracts". Contracts were for two years; if you chose to upgrade at the contract price, a new contract of two years was entered into for the phone (in other words, contracts weren't renewed, they were started anew). Once a contract was completed, you went 'month to month'.

usmaak

Thank you for the information.

Ann154

Also the two year cost of ownership (phone price plus line access fees) usually works out that the device payment agreement is less money over the two years then the two year contract price option.

usmaak

So being very new to non-contract phone service, I have one more question. Can I pay off the balance at any time, if I want to get a different device?

Ann154

Yes you can pay off the entire remaining balance in order to complete the purchase agreement early.