Any way to get out of a Verizon cell phone contract?

[The Money Monk]

I am currently in a verizon contract and am looking to switch to another service. Verizon's service has been good, but at about $150 for a 2-person shared plan, It is just way too expensive with all the other options out there.

However, I still have about 11 months on my contract with them that has about a $250 cancellation fee. Any way to get out of this?

[gimp]

Have someone like T-mobile buy you out is one method. Another is just to pay the fee and move on - you can go from $150 for two people, to much less, and break even in only a few months. (Examples: If you can use your phone with Ting, you might save a hundred a month. T-mobile, you might save $70 a month. In either case, you win very fast.)

[frugalnacho]

Just do the math and see where your break even point is.

Ditch the phones and go with republic wireless.  Upfront cost will be $150/phone  and $250 cancellation fee with verizon = $400/phone.   So for 2 phones it would be $800 up front, but you immediately will save $130/mo.  Just a little over 6 months and you will have broken even, be free from verizon's contract, and you will have lowered your monthly phone bills from $150 to $20/mo for the future.

[FiguringItOut]

I paid my Tmobile $200 cancelation fee and moved fro, $147/mo Tmobile plan to $44(taxes included) /mo plan with MyFamilyMobile unlimited talk/text/data plan.  They also use Tmob network so I didn't have to change my phone.  Just picked up a $25 sim card for the new plan.

I would suggest to just to the math and figure out how long it will take you to break even after paying the cancelation fee.  If you plan on keeping your phones for longer then the breakeven period, then you are golden.

BTW, I was on the Tmobile contracts for about 10 years.  And been wanting to get out of it forever, but never did, just kept renewing.  Only after starting to read this forum and MMM I finally did it.  Couldn't have been happier.

[Mrs. PoP]

Don't forget to consider Ting, too.   They have a program right now to reimburse you for any $ lost when you use Glyde to swap out your existing devices for Ting compatible devices of the same make/model.  (We just got our credit today!) 
They also have another program where they pay part of your ETF if you leave a contract... not sure if you can use both programs, but it's worth a shot to at least ask. Their customer service is great and online chat is too easy.