Verizon no longer subsidizes the price for tablets, but the carrier does offer a rarely mentioned payment plan for tablets, including the iPad.
The Verizon tablet installment plan matches up nicely with the cheap $10 a month cost to add a tablet to the Verizon Share Everything plans, which share a pool of data between all devices on the account.
Verizon’s tablet installment plan is available on any Verizon tablet $349 and up, which means it would likely cover the iPad Mini if it arrives with 4G LTE options later this month.
For now, the plan is valid on the following tablets.
- iPad 3rd Gen
- iPad 2
- Samsung Galaxy Tab 2.0
- Samsung Galaxy Tab 7.7
- Samsung Galaxy Tab 10.1
- Droid Xyboard 8.2
- Droid Xyboard 10.1
The plan is tempting for users looking to cut down on the up front cost of buying a 4G LTE tablet. The connected tablets cost $129 ot so more than WiFi versions of the same device, which is a deciding purchase factor for many. Many of these tablets can also double as a hotspot to connect portable game devices and laptops.
The plan isn’t free. Verizon charges a $30 service charge, spread out over the monthly payments. Verizon puts the tablet installment plan on a user’s monthly bill so it’s easy to pay for the tablet. Users must pay the first payment, including the $2.50 finance charge when buying the tablet.
A sample payment for a New iPad 16GB WiFi + Cellular is $54.91 plus tax. The monthly cost to add to a Share Everything plan is $10 plus tax.
The balance can be paid in full at any time without penalty. There are a maximum of two installment plans active on any one Verizon account at once and a $1,000 combined limit on the installment plan balance. Users must pass credit approval to use this plan.
The Verizon tablet payment looks like a good deal for users that want to avoid putting an iPad or other tablet on credit. Sure, a credit card finance charge would be lower if paid off in a few months, but its easy to leave purchases on a credit card accruing interest. With the Verizon plan, users pay monthly with a set end date in sight.
The plan is not available online, but users can see details about the offer on Verizon and head in to a local store to check eligibility.
Consumers may want to hold off to see what new tablets are coming in the next few weeks. In addition to a rumored iPad Mini, that may or may not offer 4G LTE, there are rumors of a Nexus 7 tablet with cellular connectivity. We expect to see details about both of these devices by the end of the month.