Are you a legal professional? Visit our professional site

Verizon iPhone: Plan to Break Your ATT Wireless Contract?

Article Placeholder Image
By Admin on January 10, 2011 8:47 AM

Could Tuesday be the day? The day when all of the disgruntled AT&T customers can finally ditch the pathetic AT&T network and get a Verizon iPhone? It looks that way. Verizon has scheduled a press conference for Tuesday that has the tech world buzzing.

The Wall Street Journal reports that an unnamed source confirmed that the press conference is about the Verizon iPhone. As if that wasn't enough, All Things Digital claims to have a source that said that that Steve Jobs will make an appearance at the press conference. 

So if you love your iPhone but you're sick of the constant dropped calls and slow network, how do you get out of your AT&T contract and move to Verizon. After all, there is an early termination fee, right? Let's dig into that. From the AT&T website

 "In the event you wish to cancel service before your two-year agreement expires, you agree to pay a prorated early termination fee (ETF) as an alternative way to complete your agreement... For customers who enter into new two-year service agreements in connection with the purchase of our more advanced, higher end devices, including netbooks and smartphones, the ETF will increase to $325, and be reduced by $10 for each month that you remain with us as a customer during the balance of your two-year service agreement. After that, the ETF will no longer apply." 

In other words, if you've already had you iPhone for a year, you're looking at an ETF of about $200. Plus, when you buy your new Verizon iPhone, you're looking at spending about $250 with tax. That's $450, oh no! 

But wait, all is certainly not lost. In fact, the solution is quite simple. A quick browse of eBay reveals that even a used iPhone 4 fetches over $500. That means that it is very likely that you can either break even, or possibly profit by switching over to Verizon. Sweet!

Related Resources: