A lot of the cellular companies have changed in the past year or so to a no contract model. Verizon is one of the latest to do so. Essentially, there is no longer a 2 year commitment from you to maintain their service and, in turn, they no longer subsidize the cost of the phone either fully or partially. Most of them will allow you to "finance" the purchase price f the phone by adding the cost of the phone divided by 24 months to your bill until it is paid off. They have lowered the price of their monthly service with these plans to take into consideration that they are no longer paying anything towards the purchase of your new phone.
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