Everybody has felt the frustration of being stuck in a contract that they don’t want or need anymore. Whether it be a cell phone plan, cable package, or other service contract, a lease is always something that we’re working to get rid of. You can go here https://www.sandiahomebuyers.com/sell-your-house-fast-in-las-cruces-nm/ to see more.
Forget the “For Sale by Owner” route
When many people feel that they are stuck in a contract, they immediately think of the “For Sale by Owner” route. They figure if it worked for selling their house, then why not their cell phone plan? The problem is that this is an oversimplification of what actually happens when selling a house. Many people try to sell their houses themselves and end up frustrated for one reason or another. When this method doesn’t work, they’re left with another option.
Asking the landlord to buy out your lease
This is a solution that works when the lease is coming to an end. The buyer has a short-term buyout then renegotiates a new lease agreement because they don’t want to continue the service with the current tenant. This can work when people are switching carriers, or have been unhappy with the cell phone plan and want to switch it up.
Paying the early termination fee
An early termination fee is a monetary fee that carriers charge when you break your contract before the end date. The fee amounts to around $200 dollars per person on the account and is something that many people will choose to pay rather than continuing with their service.
Pay off your phone
You can pay off your phone and return it in exchange for breaking your contract. You may have to do this in store, or you might have an option for mailing the phone back by paying for shipping or handling fees.
Pay the remaining balance to discontinue your service
This option is basically just like an early termination fee, but doesn’t charge you any extra for breaking your service agreement before the end date. The fee still exists, but it’s baked in to the overall cost of your phone plan.
Renewing your contract for a month and canceling afterward
Many providers allow one-month extensions on contracts for $1 or $2 extra per month. This can be a good way of keeping your plan active while you find a new carrier.
If you are already at the point where you can’t renew your contract with no penalty, you might as well look into buying out your lease or paying off your phone to avoid paying an early termination fee.