Terminating and starting new Verizon wireless contract?

My family got a Verizon wireless family plan in August of 2010 with 4 lines. We all chose to get basic phones instead of smart phones to save money. Now nearly 3 years later, my family has decided that we would all like to upgrade to iPhones, but we aren't due to upgrade for another year. In order to not pay the expensive price of 4iPhones with no upgrades, we decided it might be better to terminate our current contract and start a new plan, in order to get the reduced price on the phones and to be able to add data to our plan (we were told that this second contract would have to be in a different name than the original one however). We were wondering if this seems like a better idea since it would likely save us money, and also, would we be able to keep our existing cell phone numbers if we decided to go through with this?

After 3 years your contract should be over a year ago, so you should have had upgrades avail for about a year too.

On did you waste upgrades to get new basic phones a year ago? Early termination fees for 4 phone plans will be over $1, 000 (maybe $1, 2000 )

It will save you money, since as best as I can figure, your total early termination penalty would be about $460 ($175 per line for basic phones, with $5 credit for each month each phone has already been under contract).

So you would spend that plus the discount/free price for new iPhones ($200 for iPhone 5, $100 for 4s, free for 4), which is cheaper than just buying a bunch of iPhones now at the full retail price ($650 for iPhone 5, $550 for 4s, $450 for 4).

But if you wait a year, you could spend nothing at all - if at that point Verizon is still offering iPhones as free upgrades (the way they are now with iPhone 4).

Another idea to upgrade now without canceling and without losing money would be to get used Verizon iPhones on eBay… But buying 4 of those could be a hassle unless you can find one place that sells in bulk.

One last idea - go to a Verizon store and explain that it seems like it's cheaper for you to cancel and then renew, and if they agree, ask if instead wouldn't it be easier to simply get your upgrades early since that would probably be less hassle for them (and you) and they wouldn't really be out any more money. That would also remove the risk you could lose your numbers.

As far as being able to keep your numbers if you cancel then renew, I'm not sure. It's not mentioned in their online agreement for this situation. Unless you can find it in writing somewhere, it's a risk that they would say yes to get you to sign up, but then they might not do it, and you won't have any recourse.

Your contract was up August 2012. Go to Verizon online and check your account, it should tell you if an update is available and to make sure your contract is not in effect. Did someone reup the contract? You do not have to terminate the contract-you just change your calling plan. Why is Verizon saying a different name has to be on the new contract? Sounds like Verizon is trying to bully you. You do not have to do everything Verizon tells you, be polite but firm in you want or don't want. You would be surprised what a couple of veiled threats can get you. I would check on ebay and see what iphones are there, it could be a whole lot cheaper and you would not have to renew your contract. Enabling the iphones should be free seeing you are the customer. I would check all the other phone companies before commiting to a new contract. I had Verizon for years without a contract but it got too spendy for me. I was able to keep my phone number even though I'm with a local cell phone company and I'm using a Verizon Smartphone.