24 month contracts

tigertail49_2

Why in a recession are people still signing to 24 month contracts? It does not make sense as anything can happen and 24 months is a long time. What do you think?

KierNet

I have signed up for a 24 month contact, might have been a risk, but my job is safe, unless I go and get myself sacked xD.

Humphrey10

I wouldn't even sign up for a 12 month one. I've got a 1 month rolling one. If you sign up for a 12 month one then move somewhere with no signal, your paying out for nothing for the rest of the contract. Too much of a risk IMO.

mobilejunkie

I make a profit on my 24 month contract. Gimmeee gimmmeee....

Orrin

I have 24 month contracts and expect to renew my next one for another 24 months so I don't have a problem with it. What I won't do now though is pay more than £15/month so I don't feel it's too great a commitment and not much more than I'd have to pay on PAYG or SIM only anyway.

Wintermute

Despite already having an 18 month contract, I signed up for a 24 month contract in December, it worked out cheaper than buying the handset I wanted outright. I was willing to spend the money anyway, but this way I pretty much pay it off on an interest free instalment plan. I could easily pay the entire thing off at any point so it's not really an issue.

The_Boss

I get a 20% company discount on my personal phonebill, so more than happy to sign for 24 months. However, when my contract is up for renewal, I will push for an 18 month one

snowy128

Usually the longer the contract, the cheaper the monthly cost. Easier to entice people with 15ppm for 24 than 25 ppm for 12 I'd imagine...

Guys_Dad

I agree with OP.

There are numerous threads from people here who have

• lost their jobs
• decided to move abroad
• had handset problems
• moved house and lost signal
• seen a better deal a couple of months later

and all wish they hadn't signed up to a millstone contract.

Now that won't apply to everybody - not even the majority - and there are people who can reduce their costs by going Topcash/Quidco > Cashback reseller to get significantly reduced monthly costs.

But there is no doubt that for some people, they wish they had never entered into a 2 year commitment and regret it afterwards. 2011 is not going to be financially better for most people.

macman

If people insist on having £500+ smartphones on relatively low monthly contracts, then it's inevitable that minimum term contracts will all move to 24 months-and probably longer. I suspect that the majority of users have no idea of the true cost of the phone, and the levels to which the networks subsidise the purchase cost.

tbourner

I wish I hadn't, my one runs out in August and I'll be buying a phone and going onto sim only contracts from then! My £500 smart phone broke, they fixed it, then it broke again and it's outside warranty (and they won't even get back to me - great) so I'm stuck with my old rubbish phone on an expensive contract.