Does Verizon buy out contracts?

Are you tired of dealing with terrible customer service and crazy expenses associated with your phone usage? Well, you may want to switch to Verizon to improve the quality of your service and reduce your wireless bill.

There are multiple factors that determine the cost of switching phone carriers, including your plan type and device payoff. However much so, switching carriers may be a great decision as it has the potential to help you improve service and may be a great way to save a ton. Before deciding on your new cell phone provider, you may want to review their terms so that you can thoroughly evaluate your decision.

Now that you have decided to switch carriers, you may be wondering whether Verizon buys out contracts. Well, guess what? Now is the best time to switch from your previous mobile carrier to Verizon because you are able to receive up to $650 per line to end your old contract. All in all, Verizon will buy out your contract and cover all the early termination fees and device payout or lease buyouts from you old wireless provider.

What should you consider when switching mobile carriers?

There are four things that you would need to consider when making the switch from your previous cell provider to Verizon;

Early termination fees

Generally, a great number of carriers have tried their best to eliminate the 2-year contract for their customer so you may not really need to worry about early termination fees. However much so, where you got your phone may be the problem because it may still subject you to an early termination fee when you want to switch network providers. Always ensure to check with your service provider about this.

Device payoff

As long as you have not brought your own phone to your service provider, you are most likely going to pay it off. Any outstanding balances that you may have on your device must be paid in full before switching from your previous service provider to Verizon. To find out how much you have left, you would need to directly contact your service provider so that you can clear your remaining device balance.

Phone Validity

Just like most wireless carriers, Verizon offers you Bring Your Own Device programs. For you to successfully participate in this, you would need to ensure that your phone is unlocked and that it is Verizon-compatible. If you are purchasing a new phone from Verizon, you would need to ask them about the all-in cost of the specific device that you want including the respective taxes. More often than not, you can get a credit for trading in your device if you do not have to give it up when you unsubscribe from your previous contract.

Miscellaneous switching fees

There are a few common fees that you may encounter when you want to switch to Verizon, either an activation fee that allows you to create a new account and configure your device for their network or a one-time fee for providing and programming your new SIM card.

A summary table

Making the switch to Verizon

Well, Verizon is renowned for its top notch network quality and performance. What happens is that, when you port your phone number to Verizon from your previous mobile carrier, trade-in your existing device from your previous cell phone provider and purchase a 4G LTE mobile smartphone with new device payment activation; you will get $650 on a prepaid card for the balance left on your installment plan less the trade-in value of the device. For this to happen, your trade-in must be with more than $0 and in pretty good working condition and you should also have kept your new line active for at last 6 months. Visit the nearest Verizon store so that a trade-in appraisal is performed on your device and its value applied with immediate effect.

In addition to that, Verizon also gives you 2GB bonus data every month for as long as you are on their network. The only difference is that you need to have selected either the XXL orXL Verizon plan so that you can enjoy this bonus. 2 GB of data is literally enough data to last you through the longest road trips or holidays.

Conclusion

Ensure to always understand all the specific requirements needed by any service provider during termination of service so that you can avoid any challenges along the way.

FAQs

1. How can I get out of a phone contract?

If you want to get out of a phone contract early, you may want to pay an early termination fee.

2. Do I have to pay off my phone before switching carriers?

Yes.