Terminating Verizon Contract?

I have to wait until september 2013 for my contract to expire, but contacted Verizon and was told that it would cost me $100 to terminate my contract.

I was looking at getting the Iphone 5 and my best bet seemed to be terminating my contract, and paying 199 for the new phone and a new 2 year contract. That would cost me 299 (199 for iphone + 100 for termination), instead of the 650 to get the iphone without terminating the contract.

Is there something I'm missing, or does this make the most sense for me. (I'm aware that my number will be lost in the process)

Aside from missing the upgrade fee ($35), you have got it dead on.

You should not lose your number, as paying the ETF is not the same as cancelling out your line. Just make sure that when you pay your ETF that you let Verizon know what your plan is, they should allow you to keep you number with no issue.

It's doable, but two things might change- you'd have a data plan each month if you didn't before, and if you were grandfathered in an old plan with unlimited data, you might lose that.

Tmobile gives you unlimited talk, text and web for $50 a month with NO contract and walmart sells some of the better samsung smartphones for less than anyone else.
Both AT&T and verizon charge twice as much for less service.

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