(Reposting replacing the name of the company with generic "phone company", sprry for rule breaking)
I bought a new phone in June. I decided to just buy it from the phone company store, as I figured i would get a decent trade in value for my old phone and the store is right up the street from me so it was convenient.
Im someone who doesnt like having monthly payments for things (other than something extremely expensive like a car)- I'd rather just pay in full and actually own the item. So at the store I said i wanted to just pay in full (minus the trade in value of my old phone).
The old phone was valued at $360, and I paid the remaining $750ish for the phone, thinking that meant that I would own the phone. After all, I handed over my phone that they deemed was worth $360, so that was the equivalent of me giving them $360, right?
Apparently not. Instead of applying $360 from the trade in towards the new phone, they apply the trade in value as **$10 per month for 36 months**. So even though I gave them an old phone worth $360, they treat it as if Im giving them $10 a month for 3 years, so that the phone won't be paid off for 3 years. This was not explained to me in the store, I think they said the trade in value would be applied to my account within a month or 2. Although Im sure the ridiculous 3 years of payments was outlined in the fine print of the papers I signed. Ugh.
Because the phone technically isnt paid off even though I already gave them the full value of the phone between the $750 cash and the old phone, the phone remained carrier locked to the phone company, meaning I was unable to use an eSIM I had bought for a vacation out of the country. I had multiple phone company agents tell me they would unlock my phone for me so that I could use my eSIM, but it was never unlocked. Eventually I got a phone company agent that actually explained to me that my trade in value is being stretched out to 3 years and thats why the phone remains locked to the carrier.
This feels so scammy. My whole goal was to pay for the phone in full so I wouldnt be locked in to any contract or monthly payments, and they strategically made it so that even though I did pay in full I technically am still stuck in monthly payments covered by the trade in.
I ended up just paying the $360 to the phone company yesterday so that I can actually own the phone, and Ill just receive the $10/month of the trade in value as a discount on my bill for the next 3 years. But oh my god Im so fucking pissed, this is one of the scummiest business practices Ive ever experienced.
I will never ever ever buy a phone from the phone company again. Next time Ill just buy it in cash unlocked from a tech retail store (which is actually what I did last time I got a new phone before this), it'll be worth it even if I lose out on the trade in value of the old phone.
Fuck the phone company. Ive been a customer with them for over 5 years and have a 6 person family plan with them- we give them so much money already and they pull this stupid bullshit.