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Verizon’s new financing plan gives iPad & Android tablet buyers more options

by David Needle

October 18 2012

Not quite ready to pony up the full amount to buy a new tablet? Verizon Wireless has quietly launched a new financing plan that gives potential buyers more purchasing flexibility.

Verizon offers the financing to “postpaid customers” (i.e. those who are billed on a monthly basis) and applies to any tablet costing $349.99 or more, include Apple’s iPad and Android tablets from Samsung and Google's Motorola Mobility.

FierceWireless spotted news of Verizon's tablet financing plan in a report from Current Analysis titled "Shh! Verizon Wireless Has a Monthly Installment Plan for Tablets, but Don't Tell Anyone.”

In the report, authors, Jamie Huff and Avi Greengart wrote that customers must pay a $35 activation fee and a $30 finance charge (and pass a credit check) to get the financing, which can break up the cost of a tablet over the course of 12 months. Greengart and Huff noted the financing plan "offers customers tablets for as low as $31.67 per month, taking the sting out of a $349 - $729 purchase."

"While financing is only offered if data service is added, there is no service contract," he added. "Consumers can comfortably buy a connected tablet today, turn off cellular data, and use it in Wi-Fi-only mode down the road, which may encourage them to buy the connected version just in case."

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