In 2026, most major cell phone companies continue to offer "contract buyout" programs to entice new customers. While traditional two-year service contracts have largely been replaced by monthly device financing, these buyout programs are designed to cover the remaining balance you owe on your current phone or any residual early termination fees (ETFs). Major Carriers with Buyout Programs
Offers switching deals that can provide up to $800 per line to break a contract and pay off phone balances when you join certain plans.
Offers a popular "Keep and Switch" program that reimburses up to $800 per line (for up to 4 lines) for customers switching from eligible postpaid carriers like AT&T or Verizon. They also have "Carrier Freedom" deals that pay off ETFs and phone balances for those who choose to buy a new device from them.
Contract buyouts are rarely automatic; they typically require you to follow specific steps:
Reimurses up to $500 per line (up to 5 lines) via a virtual prepaid card for customers who finance a new smartphone on their Unlimited Max plan. How the Buyout Process Works