Did I get that right?
Not exactly. The ETF payoff is more of a numbers shell game to dupe people into going under contract, spend more money than necessary, and create more electronic waste. If you actually run the numbers, you'll find it's not much of a bargain... but most people only see "free money", are terrible at math, and don't give a crap about being wasteful consumer whores so they will buy another new phone at the drop of a hat whether they need it or not. Run the numbers:
http://www.techmeshugana.com/tools/wirelessroi.htmlIf you want to switch to T-Mobile, you'll have front all the money, buy a
new iPhone at full retail price (with or without two year payment plan contract) with T-Mobile, then sell your old phone to T-Mobile for whatever price they want to pay you for it. You're also going to have to commit to a minimum $50/month plan with them, which only provides 1GB of data for that money (since I know your data habits). Details on the gimmick here:
http://www.t-mobile.com/offer/switch-carriers-no-early-termination-fee.htmlAlso, legally, no carrier can actually buy out your contract with another carrier. Not T-Mobile, not Ting, not anyone. What actually happens is that you have to front the entire cost of the ETF, the new phone and switching, and then you submit copies of your final bill with your previous carrier and get a service credit.
Buying out your own ETF, getting your handset carrier unlocked, and pricing an MVNO is
always going to be cheaper.