T-mobile iphone 5 no annual contract payment?

Ok so my service at the moment is verizon wireless. Lets say i switch to tmobile and i want to buy the iphone 5 16gb (released tomorrow) for $99 down payment but with a monthly payment of $20 a month for the next 24 months ($580 in full). Why is this a better payment plan than verizon's iphone 16 gb price of $199 in a 2 year contract plan? Sorry i'm a noob for buying phones

Check apple's website. An iphone unlocked is 649.So with tmobile whenever you want you can leave and have an unlocked iphone just pay off the phone. You're basically saving 70 bucks. With verizon you have a data plan and throughout those two years you are paying little by little the 649 but you have to stay for those 2 years or else there are nasty cancellation fees.

Tmobile's network sucks. And i think you have the pricing wrong. Maybe the data plan is 20 a month. But you still have to pay for voice, texting taxes fees… If money is an issue go with sprint. Not tmobile you will be better of using a payphone then.