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How Much Does It Cost to Get Out of a Verizon Contract Early?

Learn about Verizon's early termination fee and how much it costs to leave your contract before it ends.

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Video transcript

To get out of a Verizon contract, customers may need to pay an early termination fee (ETF), which could be up to $350 for smartphones, decreasing by $15 for each month of the contract that has been completed.

Questions and answers

  1. What is the early termination fee for Verizon contracts?

    The early termination fee for Verizon smartphone contracts can be up to $350 and decreases by $15 for each month completed in the contract.

  2. How is the Verizon early termination fee calculated?

    Verizon reduces the early termination fee by $15 for every full month you have completed on your smartphone contract until it reaches zero.

  3. Can I avoid paying an early termination fee with Verizon?

    Generally, the early termination fee applies if you cancel before your contract ends, but you may avoid it under special circumstances such as device upgrades or contract expiration.

  4. How long are Verizon smartphone contracts typically?

    Verizon smartphone contracts typically last 24 months, but the early termination fee decreases monthly as you approach the contract end.

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For more details on managing wireless contracts and minimizing fees, check out our related videos on negotiating with carriers and understanding mobile plan terms. Stay informed to make the best decisions for your mobile service needs.