Just found out I cannot get iPhone unless I pay full price...very upset

My wife and I just went to the Verizon Wireless store and were told that we could not get the iPhone without paying a ridiculous amount of money.  I had just assumed that current customers, who had displayed loyalty to their company, would be able to sign up for a new 2 year term to get the device.  Have others had this issue?  Is there any recourse for this decision? 
In my opinion, this is a completely unacceptable decision by Verizon.  Basically, I am valued less than someone else who is coming to Verizon new.  Had I known when I completed my last upgrade that the iPhone was coming, I would have simply waited.  I think Verizon needs to answer for this...

WRLeGrand wrote:
So you are telling me that the iphone costs Verizon $650 or $800?  I highly doubt that.....It would not be losing money if they allowed you to extend to a new 2 year contract now.  They would still get the price of the phone and the additional months of service....
Ahhhhhhhhhhh but they would....All of us would want a new phone every six months at a discount and say, "Hey just extend the contract". We would have contracts that are 80 years long.
You need to show your loyalty by completing the contract you signed.  When did you update your phones... One of you may be able to get one at two year pricing.

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