As a Verizon customer, you’re likely no stranger to the world of contracts and agreements. When you sign up for a new phone or plan, you’re typically locked into a multi-year commitment with the carrier. But what happens when that contract finally comes to an end? Do you find yourself wandering into uncharted territory, wondering what your options are and what the future holds for your phone service?
In this article, we’ll delve into the world of Verizon contracts and explore what happens when they come to an end. We’ll cover the ins and outs of your options, from upgrading your phone to switching carriers, and provide you with the knowledge you need to make an informed decision about your phone service.
What Happens When Your Verizon Contract Ends?
When your Verizon contract ends, you’re no longer locked into a commitment with the carrier. This can be a liberating feeling, as you’re free to explore new options and make changes to your phone service as you see fit. However, it’s essential to understand that your contract ending doesn’t necessarily mean your service will be terminated.
In most cases, your service will continue uninterrupted, and you’ll still have access to your phone and data plan. However, you may notice a few changes:
- You’ll no longer be eligible for the promotional pricing or discounts that came with your original contract.
- You may see an increase in your monthly bill, as you’ll be moved to a month-to-month agreement.
- You’ll have the freedom to upgrade your phone or switch carriers at any time, without incurring early termination fees.
Understanding Your Options
When your contract ends, you’ll have several options to consider:
Upgrade Your Phone
If you’re due for an upgrade, now is the perfect time to explore new devices. Verizon offers a range of phones and devices, from budget-friendly options to high-end flagships. You can visit a Verizon store or shop online to browse their selection and find a new phone that meets your needs.
As an upgrade, you may be eligible for promotional pricing or discounts on your new device. Be sure to ask about any available deals when you visit a store or chat with a representative online.
Switch Carriers
If you’re unhappy with Verizon’s service or pricing, you may consider switching to a different carrier. With the rise of 5G networks and increasing competition, there are now more options than ever before. Popular alternatives include:
- AT&T
- T-Mobile
- Sprint
- Google Fi
When switching carriers, be sure to research and compare plans, pricing, and coverage in your area. You’ll also want to consider any potential fees associated with switching, such as early termination fees or device costs.
Stay with Verizon
If you’re happy with your current service and don’t feel the need to make a change, you can simply continue with Verizon on a month-to-month basis. This option provides the most flexibility, as you can cancel or modify your plan at any time without penalty.
Early Termination Fees: What You Need to Know
When you sign a contract with Verizon, you agree to a specific term, typically 12 or 24 months. If you choose to cancel your service before the end of that term, you’ll be subject to an early termination fee (ETF).
ETFs are designed to compensate Verizon for the cost of providing service and the loss of revenue associated with terminating your contract early. The amount of the ETF varies depending on the type of plan and device you have, but it can range from $350 to $700 or more.
If you’re still under contract and want to switch carriers, be prepared for an ETF. However, if you’ve reached the end of your contract term, you’re free to cancel or modify your service without incurring any additional fees.
What to Do When Your Contract Ends
Now that you understand your options, it’s essential to take action when your contract ends. Here are a few steps to take:
Review Your Bill
Take a close look at your bill to ensure you’re not being charged for any unnecessary features or services. This is a great opportunity to optimize your plan and remove any unwanted extras.
Explore New Options
Research and compare plans, pricing, and coverage from Verizon and other carriers. Consider your needs and preferences, from data speeds to international roaming, and find the best fit for your lifestyle.
Negotiate with Verizon
If you’re happy with your current service but want to stay with Verizon, consider negotiating a better deal. Reach out to their customer retention department and ask about any available promotions or discounts. You may be able to secure a better price or additional features at no extra cost.
The Benefits of Staying with Verizon
While switching carriers can be tempting, there are several benefits to staying with Verizon:
- Seamless transition: You won’t need to worry about transferring your number or setting up a new account.
- Familiarity: You’re already familiar with Verizon’s network, plans, and features, making it an easy choice.
- Loyalty rewards: As an existing customer, you may be eligible for loyalty rewards or exclusive deals.
- Device selection: Verizon offers a wide range of devices, including exclusive models not available from other carriers.
Conclusion
When your Verizon contract ends, you’re presented with a world of possibilities. Whether you choose to upgrade your phone, switch carriers, or stay with Verizon, it’s essential to understand your options and take action. By reviewing your bill, exploring new options, and negotiating with Verizon, you can find the best fit for your needs and budget.
Remember, your contract ending is an opportunity, not a limitation. Take control of your phone service and make informed decisions about your future with Verizon.
What happens when my Verizon contract ends?
When your Verizon contract ends, you are no longer bound by the terms of the agreement. This means you are free to explore other carrier options, switch to a different plan, or change your phone. You also won’t be charged an early termination fee if you decide to cancel your service.
However, if you don’t take any action, your contract will likely roll over into a month-to-month agreement. This means you’ll continue to receive service, but you’ll no longer have a fixed contract term. You can still cancel at any time, but you’ll need to provide notice according to the terms of your new agreement.
Can I upgrade my phone when my contract ends?
Yes, when your contract ends, you are eligible to upgrade your phone. In fact, Verizon often offers promotions and discounts to customers who are coming off a contract. You can visit a Verizon store or website to explore your upgrade options. You may be able to get a new phone at a discounted rate or take advantage of a buy-one-get-one-free deal.
Keep in mind that if you upgrade your phone, you may be committing to a new contract. Be sure to review the terms of your new agreement carefully before signing. You may want to consider switching to a month-to-month plan instead, which will give you more flexibility if you need to change your phone or service in the future.
Will I be charged an early termination fee if I cancel my service?
No, you will not be charged an early termination fee if you cancel your service after your contract ends. Early termination fees are typically applied when you cancel your service before the end of your contract term. Since your contract has ended, you are free to cancel at any time without incurring a fee.
However, if you have a device payment plan or other financing agreement, you may still be responsible for paying off the balance owed on your phone. Be sure to review your contract and financing agreements carefully before canceling your service.
Can I change my plan when my contract ends?
Yes, you can change your plan when your contract ends. In fact, this is a great opportunity to re-evaluate your needs and switch to a plan that better fits your budget or usage habits. You can visit a Verizon store or website to explore your plan options and make changes.
Keep in mind that if you change your plan, you may be committing to a new contract term. Be sure to review the terms of your new agreement carefully before signing. You may want to consider switching to a month-to-month plan instead, which will give you more flexibility if you need to change your plan in the future.
Will I lose my phone number if I cancel my service?
No, you will not lose your phone number if you cancel your service. According to the Federal Communications Commission, you have the right to keep your phone number even if you switch carriers. This is known as “number portability.” You can take your phone number with you to a new carrier, or you can park it with Verizon for a small fee.
To keep your phone number, you’ll need to initiate the process with your new carrier. They will work with Verizon to transfer the number to your new account. Be sure to follow the instructions carefully to ensure a smooth transition.
Can I sell my phone when my contract ends?
Yes, you can sell your phone when your contract ends. In fact, many people sell their old phones to offset the cost of a new device. You can sell your phone to a third-party buyer or trade it in with Verizon.
Before selling your phone, be sure to wipe it clean and remove any personal data. You should also review your contract and financing agreements to ensure you’re not still responsible for any outstanding balances.
What happens to my device payment plan when my contract ends?
When your contract ends, your device payment plan will continue until you’ve paid off the balance owed on your phone. You’ll need to continue making monthly payments until the phone is paid in full. Once you’ve paid off the balance, you can cancel your device payment plan and use your phone without making further payments.
Keep in mind that if you cancel your service before paying off your device, you may be responsible for paying off the balance immediately. Be sure to review your contract and financing agreements carefully before canceling your service. You may want to consider waiting until you’ve paid off your device before canceling your service.