Today the smaller carriers Virgin Mobile, Ting, Boost Mobile and Metro PCS are offering the iPhone 8 and 8 Plus for preorder.
So why is this news when it's coming a week after the major carriers offered the preordering option and the very same day the buy guys are selling the iPhone 8 in their shops?
Because the MVNO customer who can now pay upfront for the latest and greatest iPhone is likely getting the better deal in the long run.
Why Pay Upfont?
Because MVNOs are prepaid carriers meaning that whether its a phone or cell phone service, you pay before you receive. Your reward? Super low plan pricing, so low that the money you save each month with an MVNO could easily finance your next device purchase.
Pros of Paying for Your Phone Upfront
- you own your phone right away
- lower monthly cellphone bills because you’re paying only for your service data plan, not your device
- because you own your phone, you'll have an easier time switching carriers and take advantage of the competitive deals
Choosing MVNO vs Major Carrier = Major Savings
Example: Let's say you purchase a new iPhone from Verizon that costs $699. You pay each month $29.12 for your device (on a 24-month installment plan) and $75 for an Unlimited data plan.
However, if you paid for that phone upfront and then went to a MVNO like ROK Mobile that uses Verizon's network but charges only $50 a month, you would save on your plan $25/month or $600 over two years.
- Verizon: 2 years of payment plan for device ($699) + 2 years on unlimited data plan (24 x $75 = $1800)= $2499
- ROK Mobile: paid for phone upfront ($699) + 2 years on unlimited data plan (24 x $50 = $1200)= $1,899