Upgrading to Note 8 - What happens to my contract
usmaak
Enthusiast - Level 3

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

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Re: Upgrading to Note 8 - What happens to my contract
tikibar1
Community Leader
Community Leader

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. 

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Re: Upgrading to Note 8 - What happens to my contract
tikibar1
Community Leader
Community Leader

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. 

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Re: Upgrading to Note 8 - What happens to my contract
usmaak
Enthusiast - Level 3

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?

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Re: Upgrading to Note 8 - What happens to my contract
tikibar1
Community Leader
Community Leader

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'.

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Re: Upgrading to Note 8 - What happens to my contract
usmaak
Enthusiast - Level 3

Thank you for the information.

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Re: Upgrading to Note 8 - What happens to my contract
Ann154
Community Leader
Community Leader

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.

I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.

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Re: Upgrading to Note 8 - What happens to my contract
usmaak
Enthusiast - Level 3

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?

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Re: Upgrading to Note 8 - What happens to my contract
Ann154
Community Leader
Community Leader

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

I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.