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36-Month Contracts Will Be the New Norm for Verizon

Pay all fees in one lump sum or spread over three years

It’s official: Verizon is replacing the shorter 24-month and 30-month contract options with a 36-month contract that applies to all programs that offer a Device Payment Plan (DPP).

As originally reported by droidlife, Verizon appears to be extending the duration of its DPP contract to 36 months (three years) and will remove options for 24-month and 30-month contracts. Verizon has since confirmed the news in an email to Lifewire, saying “a 36-month device payment plan will be the only contract option going forward.”

Chris Hondros/Staff/Getty Images

When asked why Verizon decided to drop the 24-month and 30-month contract options and only offer a 36-month subscription, Lifewire replied: “Verizon’s 36-month device payment plan makes it easier than ever for customers Get the latest and greatest. 0% APR on smartphones and tablets.”

Since the first two contract options also offer an APR of 0% (annual interest rate), it’s unclear how this change will make it easier for customers who have to pay for their device within 36 months to upgrade or upgrade. pay. Pass the full 36 month contract.

man sitting at desk and showing pen and contract

Westend61/Getty Images

According to Verizon, the upgraded 36-month contract doesn’t affect currently ongoing contracts, but applies to new contracts (ie, if you upgrade, buy new equipment, etc.). Subscribers also only have the option to pay for the device once, instead of paying extra on the device each month.

All new contractual agreements entered into after February 3, 2022 fall under the new three-year contract term.

According to Verizon, iPhone users can still upgrade to a new device before their 36-month contract expires if they pay 50% of their outstanding balance within the first 30 days. As before, Android customers must pay for the device in full before upgrading.

Corrected 2/7/22: Added last paragraph to reflect Verizon’s update policy when information is received after initial release.

Content

36-Month Contracts Will Be the New Norm for Verizon

Either pay all at once or spread it out over three years

It’s official: Verizon is replacing its shorter 24 and 30-month contract options with a single 36-month contract, which will apply to all items that offer a Device Payment Plan (DPP).

As initially reported by droidlife, Verizon looks to be extending the duration of its DPP contract to 36 months (three years) and is removing the option for 24 and 30-month contracts. Verizon has since confirmed this news to Lifewire in an email, stating that “36-months device payment plans will be the only contract option going forward.”

Chris Hondros / Staff / Getty Images

When asked why Verizon decided to eliminate the 24 and 30-month contract options and offer only a 36-month plan, Lifewire was told that “Verizon’s 36-month device payment plan makes it easier than ever for customers to get their hands on the latest and greatest smartphones and tablets with 0% APR.”

As both previous contract options also offered a 0% APR (annual percentage rate), it’s still unclear how this change makes anything easier for customers, as they’ll need to pay their device off early to upgrade sooner than 36 months or carry the payment through the full 36-month contract.

Westend61 / Getty Images

According to Verizon, the updated 36-month contract won’t affect any contracts that are currently in progress, but it will apply to new contracts (i.e. if you upgrade, buy a new device, etc). Subscribers also will only have the option to pay the device off early as a single payment, not by paying an additional amount on the device each month.

Any new contract agreements made after February 3rd, 2022, will be subject to the new three-year contract timeframe.

According to Verizon, iPhone users will still be able to upgrade to a new device before the 36-month contract is up if they pay off 50-percent of their outstanding balance within the first 30 days. As before, Android customers will have to pay off their devices in full before they can upgrade.

Correction 2/7/22: Added the final paragraph to reflect Verizon’s upgrade policy as the information came in after initial publication.

#36Month #Contracts #Norm #Verizon

Tài Chính Kinh Doanh

Business Finance - Synthesize economic and financial news, market price news, insurance news.... Start-up investment opportunities, business cooperation and loan guidance. #taichinhbusiness #taichinh #tintuctaichinh #tintucbaohiem Contact Info: Website: https://taichinhquangdoanh.info/ Mail: Address: 63-47 To Hien Thanh Ward, Le Dai Hanh, Hai Ba Trung, Hanoi, Vietnam

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