Cooling off vs 30 day notice - O2 mobile contracts

myrealusernameunavailable

Hello everyone

I have recently taken an O2 contract (3 days ago) and i plan to buy-out the entire contract and pay off the remaining fees due. I dont want to cancel it but buy the contract out. When i called yesterday, the O2 cancellations team rep told me that they will need a 30 day notice for this. When i said i am still under 7 days cooling off period, she said that i can go and return the phone and they will cancel the contract. But if i want to buy out of a contract i will have to give a 30 day notice regardless of the cooling off period.

Is this right? Can someone please help me understand this? And do i really need 30 day notice in the cooling off period to buy out of a contract.

thanks in advance

Cycrow

why exactly do you want to buy out the contract ?
it just seems pointless taking out a contract then paying alot to buy it out.

if you dont want the contract, then just take the phone back under the 7 days.

and yes, if you cancel a contract, you need to give 30 days notice

grumbler

myrealusernameunavailable wrote: »

Can someone please help me understand this?

Don't try understanding something that makes no sense whatsoever. 30 days notice within the minimum term is nonsense as you pay for all the remaining months regardless, including the next 30 days.

What do they actually want? If paying for all minimum term in one go is really what you want, just pay them what is due and vote with your feet.

mobilejunkie

Er... use the 7 day cooling off period and there's nothing to pay. Give 30 days' notice and it'll cost almost as much as the full term.

myrealusernameunavailable

Cycrow wrote: »

why exactly do you want to buy out the contract ?
it just seems pointless taking out a contract then paying alot to buy it out.

for the simple reason that it will cost me less to pay in one go than to stick with the contract for 24 months. and NO it is not pointless

Cycrow wrote: »

if you dont want the contract, then just take the phone back under the 7 days.

this is what i was told by the customer care rep as well. as i said in the main post, i DO WANT the contract. i dont want to return it.

Cycrow

if you want the contract, then why do you want to pay it off ?

you do relise that if you pay the full amount off, it will cancel the contract, you wont be able to keep using it.

so all you will get out of it would be the phone, which is cheaper to buy outright than the cost.

its cheaper to than paying each month because you dont have to pay VAT because you wont be using the service

chanz4

you want the less vat rate, op your cant do that. you pay monthly amount x24 .

Jon_01

It maybe that the acc has to live through one billing cycle before before the system can generate the buy out?
Opening and buying out in a few days, I'd think, isn't one of the options the system programmed for. Its not the kind of action that's usually done. (maybe??)...

chanz4

He doesn't want to buy out, just paid in advance

Buzby

Cycrow wrote: »

its cheaper to than paying each month because you dont have to pay VAT because you wont be using the service

An urban myth. You pay vat at 20% on the full invoiced amount. The only time you 'save' on vat is if the network rebate an amount because of non use of the bundle of service purchased. If they don't rebate there's no discount.

I believe 02 have offered 10% of the amount owed as a settlement, but any Vat discount will be 20% of that modest 10% - nothing to get excited about.

grumbler

It's not a myth. It's a fact proved by many reports, actual bills for Orange and Vodafone and also by web reps for the latter.

Also, in terms of 'discount', VAT is 16.67% of the total amount, not 20%.