“I am already a Verizon customer, but I don't want to make payments to Verizon. Why can't customers who want to make a one time payment, get the $300 discount from Best Buy? One time payment is $649! That makes no sense at all.”
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Think about it. The reason that Verizon is allowing the reduced purchase price it to insure continued service. And there is no interest. Best Buy makes monthly contributions to your periodic payments and those stop when the 24 months are over OR when the phone is paid off. As long as you don't anticipate leaving Verizon, it is a good deal.
Sorry, there was a problem. Please try again later.This is just my layman's perspective, but here it goes. The way the discount is set-up means you get a few bucks (~$13) knocked off of each payment to Verizon, not as a lump sum. So there are 24 payments in the 2 year contract which means you get a little bit off of each payment that will eventually add up to $300, BUT if you decide to pay it off early or pay for the whole thing outright you will miss out on some or all of the discount. Why do this? My guess is that Verizon wants to guarantee you will be on their service for two years, in exchange for a cheaper phone. Otherwise you will pay the whole price of the phone if you decide to switch or pay it off early.
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