Signing a new contract

Question

I cannot seem to get a straight answer on when you are eligible to sign a new contract.  I have found conflicting responses on both this forum (for other questions), through online customer service, and in in a store.
My husband and I are currently 17 and 10 months into our contracts, respectively, and would like to get iPhones.  We certainly cannot afford the full retail price for them, and they are not available "Certified Used," so that is not an option.  We both currently have regular phones (not even a data plan - just the basic family voice plan and text messaging - about $108/month). 
I had the impression that our "upgrade dates" (of July 2011 and February 2012) were the dates we could get new phones WITHOUT signing a new contract (month-to-month).  Or are those the earliest dates we can sign a new 2-year contract and purchase iPhones at the discounted pricing?  In other words, someone please help me understand what exactly the "upgrade date" means and how it is related to signing a new 2-year contract.
If we can sign new contracts with Verizon, we'd do that -- otherwise, we'd probably take the hit of the early termination fee and switch carriers.

Answer 1

erinnjh wrote:
I cannot seem to get a straight answer on when you are eligible to sign a new contract.  I have found conflicting responses on both this forum (for other questions), through online customer service, and in in a store.
My husband and I are currently 17 and 10 months into our contracts, respectively, and would like to get iPhones.  We certainly cannot afford the full retail price for them, and they are not available "Certified Used," so that is not an option.  We both currently have regular phones (not even a data plan - just the basic family voice plan and text messaging - about $108/month). 
I had the impression that our "upgrade dates" (of July 2011 and February 2012) were the dates we could get new phones WITHOUT signing a new contract (month-to-month).  NO, upgrade dates are when you have reached month 20 of your 24 month contract that you signed when you bought the phone(s).  You are then able to buy a new phone at the "2-yr contract price", and sign a new contract for 2 years from that point.  Your contract goes month to month only when it reaches the FULL term (24 months) and you do NOT purchase a new phone.  At that point, you can terminate service without paying an ETF.  You cancontinue your service indefinitely, or cancel and move to another carrier.
Or are those the earliest dates we can sign a new 2-year contract and purchase iPhones at the discounted pricing? Yes, that's it exactly. In other words, someone please help me understand what exactly the "upgrade date" means and how it is related to signing a new 2-year contract.
If we can sign new contracts with Verizon, we'd do that -- otherwise, we'd probably take the hit of the early termination fee and switch carriers.  You can each sign a new contract when you reach the upgrade date listed on your account - when Verizon considers your current contract completed enough to give you the option to upgrade and remain with them for another two year term.
The previous poster mentioned the "annual" upgrade - if you are planning on getting the iPhone, then it's a moot point since you can't use it for the iPhone.
It is a benefit offered to the primary line only at 12 months of a 2 year contract signed before Jan 16 or 18 (I can't remember the exact date) 2011.  Contracts signed now do not include this option, and it can't be used for the iPhone.
I hope this has cleared some of the confusion.  I'm not surprised you got differing answers as many store reps and CSR's don't understand the upgrading ins and outs fully either, and just want to SELL, SELL, SELL.