Voyager
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3 Messages
What is different from installment plan and contract?
When i unlock iphone on https://www.att.com/deviceunlock/.
It shows in contract,my brother shows "pay off your installment plan".
What different bettwen "in contract" and "pay off your installment plan"?
formerlyknownas
ACE - Sage
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117.2K Messages
4 years ago
Not really a difference as you have to pay off or complete a contract before you can unlock a device.
Contract is a discounted purchase and the remainder of the purchase price is recouped in your monthly service fee for 24 months. If you cancel early an ETF is charged. You cannot “pay off” a contract.
Installment is like a loan to purchase. You only pay sales tax up front if your credit allows. Then the retail price is divided equally over 24 or 30 months. You can pay off your phone pretty much any time.
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