- Mostly cloudy
So you love all things Apple, and you were among the first people to buy the iPhone 4S when it came out last fall.
Now, you can't wait to upgrade to the new iPhone 5.
But guess what? It's going to cost you a LOT of money. As much as $650 for a shiny new iPhone next week.
Under Contract? Be Prepared to Pay
The problem is that everyone with an iPhone 4S on the AT&T, Verizon or Sprint networks is currently under contract, unless you bought the phone at full price, which hardly anyone did.
To get that 4S for $199, you had to sign a two-year contract.
Now, if you own an iPhone 4S that is just one year into a two-year contract:
-You will have to pay a whopping $649 to upgrade to the iPhone 5 at Verizon or Sprint (full price).
-You will have to pay $449 to upgrade to the iPhone 5 at AT&T (AT&T is offering a $200 subsidy).
To get the fully subsidized $199 iPhone 5, you will have to wait until May 8 of next year at Verizon, or Aug. 14 of next year at AT&T, according to the blogs.
One option: Change Carriers
There is a way around this, according to several blogs.
By paying an early termination fee (they vary, but can be $150 or even less), you can leave AT&T or Verizon and switch to the opposite carrier, and thereby be eligible for a subsidized $199 iPhone 5.
As always, don't waste your money.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
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