AT&T to Revamp Phone Purchasing Options
May 23, 2016, 10:38 AM by Eric M. Zeman
AT&T today said it intends to reduce the number of handset financing options from four down to two. Beginning June 9, AT&T will offer new and existing customers the AT&T Next Every Year plan and the AT&T Next plan. The first will allow customers to upgrade to a new device every year, as long as 50% of the phone is paid off at the time of upgrade. Device payments are broken up over 24 months, but customers trade in the device at 12 months for a new phone. The second option, AT&T Next, lets customers upgrade every two years as long as 80% of the device is paid off at the time of upgrade. Device payments are broken up over 30 months. AT&T said customers can always choose to trade in old phones for credit toward new devices, and may also choose to make a down payment on new phones to help reduce monthly payment amounts. Customers who cancel service will need to make the balance of device payments. Customers with low credit may need to leave a deposit.
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