Cancelling phone contract the next day

soupmaster666 wrote: ↑ Carriers have early termination fees for subsidized phones. The penalty is usually a set amount, multiplied by the number of months remaining. It used to be that you would pay more than if you just bought the phone, but recent CTRC laws made this illegal. Now it will be the highest possible phone price, divided by the total months remaining on the contract.

You can call carriers or check their websites for the fine print to get the actual numbers.

The easy-to-read law is here: https://crtc.gc.ca/eng/phone/mobile/codesimpl.htm

Some rough details are here: https://www.cellphones.ca/cell-plans/p/ ... ntract-10/


You will see people advocating for this here on the forums, but only when the cell phone contract is accompanied by a cash-equivalent benefit like a $200 or $250 gift card. You do pay full price for the phone, but the effective price is reduced by the value of the gift card.

john5170 wrote: ↑ Thanks for the explnation.

So for example, with Koodo $360 tab, and a $500 phone. How much would I need to pay if I were to cancel the contract right away?

john5170 wrote: ↑ What is the fineprint there, what do I need to know...?

vkizzle wrote: ↑ Koodo's tab system works different than its parent company and the other carries.
You obviously took advantage of this deal from reading the mega Essential Koodo thread, so not sure why you decided to create a thread?

ALLCAPS wrote: ↑ If you want to know what the fine print is, the solution is simple. Read your contract and theT&C for the promotions you may have taken advantage of. You can only get general information in online forums, and only the terms of the contract/s are relevant.

john5170 wrote: ↑ I did not yet take advantage of this deal. I have a good plan with another company, and will most likely cancel the plan with Koodo. I only want the phone.

So I want to know if there is a "catch" before I sign anything. Because otherwise, $360 tab, with a $300 gift card, is just too good to be true... Can anyone please explain??

vkizzle wrote: ↑ The deal is the phone!

john5170 wrote: ↑ I do not have a contract yet. Can you post a link to the T&C? because I don't think it is available online...

So there are many deals now where you sign up for a 2 year contract to get a cheap phone.