Author Topic: Sticking with Virgin Mobile vs switching to Republic?  (Read 1396 times)

katalyn13

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Sticking with Virgin Mobile vs switching to Republic?
« on: June 04, 2014, 11:01:03 AM »
Hi there,

First off, I'm new to this, so thank you all for having me and thanks in advance for any suggestions you have!

I'm trying to figure out what I should do in my current cell phone situation. I currently have Virgin Mobile, which costs me about $38/month ($35 plus a few bucks in fees and taxes that I probably won't be able to get rid of, regardless of company), and I paid about $120 for the smartphone upfront. I switched off of my family's Verizon plan (I'm a college student) last October, which saved them a considerable amount of money but now I'm paying for it entirely myself.

So, I'm trying to figure out if I should stick with Virgin or switch to Republic. Obviously, Republic will save me money in the long run--I'd only need their $25 plan so it would save about $10/month, but the upfront cost of the $150 Moto phone would be sort of a chunk of change for me. It looks like I could sell my current phone for about $40 which would offset the cost of the new phone by not by much. Does it make any sense for me to stick with Virgin Mobile for a while longer or should I just bite the bullet and switch asap?

Thanks again!

SpecAg08

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Re: Sticking with Virgin Mobile vs switching to Republic?
« Reply #1 on: June 04, 2014, 11:51:51 AM »
From a straight up economics perspective, this is pretty easy:

Current
Virgin Mobile: $38/month

New
Phone: $150 (new phone) - $40 (sell old phone) = $110
RW: $28 (assuming similar taxes and fees)

Buyback
(months)*$38 = (months)*28+$110
(months) = 11

So by switching to RW, in 11 months you will break even and from there on out it's all gravy.