For Verizon customers, BestBuy contract at checkout says $32.75/mo for 24 mos ($786) PLUS $150 down. $936 TOTAL = NO SAVINGS. Shouldn't $150 down be deducted with monthly charge being $26.50/mo for total of $636? Am I missing something? Where's discount? null

Question

Gam3rgirl94 · Accepted Answer

Your required to pay taxes on the full price of the phone + any activation fees when picking up the phone. Even at verizon you would have to pay these charges so yes, you are saving $150.

Answer

From what I understand, you don't actually pay the $150.00 "down payment" it just shows that way on your receipt from Best Buy, the $150.00 that shows as a down payment is the Best Buy offer. You just pay the monthly payments of $32.75 plus tax, the tax is probably on the full amount of the phone including the down payment, that I am not sure of.

Answered by Anonymous 8 years ago

Answer

The price of the phone is $960, which is $40 a month. With the $150 savings from Best Buy the month price goes to $32.75

RPrice · Answer

It's normally $39.00 monthly.

TonyG · Answer

To Anonymous: 

Thanks for your answer to my posed question, but... 

At checkout, Best-Buy's contract states that you will amass, over 24 months, not only charges of $786 (i.e., the $32.75/mo for $24 months), but also Best Buy requires a $150 down payment up front in addition to the monthly charge. Requiring a $150 deposit in addition to what one pays for the monthly charge, in effect, nullifies the $150 one seems to save via the monthly charge. 

In essence, Best-Buy is charging the 32.75/month for $24 months PLUS the $150 down. Therefore, the total cost of the phone is $936. That does not amount to a $150 savings, but a $14 savings. 

For there to be a $150 total savings, the amount paid after making all 24 monthly payments along with the $150 deposit required should equal $800 dollars. In other words, the total monthly charge paid at the end of the contract (after paying for 24 months) should equal $650. $650 divided by 24 months, means each monthly charge should be about $27.

“For Verizon customers, BestBuy contract at checkout says $32.75/mo for 24 mos ($786) PLUS $150 down. $936 TOTAL = NO SAVINGS. Shouldn't $150 down be deducted with monthly charge being $26.50/mo for total of $636? Am I missing something? Where's discount?”

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