Verizon Announces New "Device Payment Plan"
A lot of people were mad about Verizon’s new contract policy. The press release said that customers have to wait 24 months rather than 20 months to get a new phone. After that new policy was announced, they told The Verge that a new “Device Payment Plan” would come into action that same day.
The “Device Payment Plan” lets you get a new phone every year rather than waiting 24 months. You have to pay the fee up front for a new phone and the full price of the phone will be fixed into your monthly bill. By the end of the 12 months your phone will be fully paid off. An additional $2 a month ($24 a year) will be added to your bill as a finance charge. If you want to do the same for tablets you can, but only on ones costing more than $349.99.