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Presumably, you’ve considered switching wireless providers and found yourself in a predicament. There is likely a contract and getting out of it costs an arm and a leg. So, does Verizon buy out contracts?
As expected, this giant service provider faces stiff competition from its counterparts. Network reliability and performance are not enough to keep customers from seeking other options.
There has to be something that sweetens the deal and makes it even better than the rivals. Well, Verizon now offers potential customers a way out of their contracts with competitors in exchange for signing up with them. Stay put for details on this!
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Will Verizon buy out my contract?
The majority of wireless carriers provide their services on contract. Sometimes you get locked into a 12-month contract. Now if the service isn’t as good as you expected, terminating it and moving on becomes very difficult.
This is because you’ll be required to pay off the remaining months on the contract, which could be a hefty amount. Generally, most customers look for options that include clearing the outstanding payment in the perks. And this is where Verizon comes in.
Verizon is willing to buy out your contract from a previous provider as long as you agree to switch to their network. They will cover the early termination fee on your previous line or device. The deal also includes lease buyouts from the former wireless provider. Verizon ensures you have absolutely no reason to remain locked in with another provider and can switch swiftly to their service.
Keep in mind, the amount given varies depending on the type of promotion that’s being advertised at that moment. New as well as returning customers can get as much as $650 per line if they switch over from another wireless provider. This comes in the form of a prepaid card that you’ll then use to repay the outstanding debt. In addition, eligible customers receive up to $350 to clear any early termination fee associated with the change in operators.
Being Eligible for A Verizon Contract Buy Out
Verizon’s contract buyout offer doesn’t come on a silver platter. On the contrary, there are conditions to adhere to before you qualify for this promotion. It’s not uncommon for people to bounce from one carrier to the next. In fact, it takes time to find the perfect provider for your particular needs.
That said, wireless providers don’t want to just entice customers into switching over to their service. They want them to stay in the hopes of banking more revenue. And this explains the need for fine print. This is what you must know when changing service from an old provider to Verizon;
- Verizon will only buy out your contract after you’ve agreed to transfer your wireless number from a previous service provider.
- You’re required to purchase a brand-new smartphone as well as trade in the old one. The old device should still be in great condition with a value of over $0.
- You have to agree to new device payment activation. You must sign up for this.
- You’ll receive up to $650 on a prepaid card. This should cover pending payments.
- Verizon requires you to sign up and pay for a new line for up to 6 months.
Will Verizon pay off my T-Mobile contract?
T-Mobile is among the carriers that Verizon is willing to buy out their contracts in exchange for you to switch over. In case you have outstanding payments including your phone bill, termination fees and so on, Verizon will give you at least $650 to pay off the amount.
Think about it and ensure it’s a suitable move for you. It’s nice to try out different services until you can find one that works in your favor. However, it might also not be the ideal thing to do in all situations.
How to switch from another provider to Verizon
Pay-to-switch promotions are a big deal among the major carriers. It means they’re able to get new customers and even convince them to stay for longer. Most people don’t see anything wrong in switching from a former operator to the Verizon network because of the perks involved.
Not only will they help you cover pending payments but also offer a reliable network. This is how you can claim this promotion;
- Go to the Verizon website and get a new cellphone with monthly payments.
- Find the trade-in option and select it.
- Type in the wireless number you wish to switch to the Verizon network.
- Within a few days, they’ll send a box so that you can ship to them your old phone.
- Determine the final bill from your previous carrier. Use the emailed promo code to claim your offer.
Final Thoughts
Oftentimes, customers are trapped in a long binding contract and when they want to terminate it, they’re slapped with hefty termination fees. Things have changed now and the fact that carriers such as Verizon offer a way out is remarkable. You don’t have to feel stuck in a contract when there are options that offer better solutions.
FAQs
What company will pay off my phone if I switch?
Verizon has decided to pay customers to switch to their service. It’s a good deal especially since it’s one of the most reliable networks in the country.
How much will Verizon pay me to switch?
In most instances, they’ll pay you up to $650 if you opt to switch from a rival network to their service.
