Canceling iPhone 4 Contract

[vegeto2k2222]

I will be opening up a few lines on my account and thus will be able to purchase the iPhone 4 for the upgrade price ($199 and $299). I am already purchasing a phone for myself that I will be keeping.

What are costs associated with purchasing another iPhone and canceling the contract so I can sell it on eBay.

I ran across the early termination fee policy from the AT&T Site. It's $325 minus $10 for each full month of your Service Commitment that you complete
http://www.wireless.att.com/learn/ar...-term-fees.jsp

So the total costs would be $300 (for 32gb phone) + $325 (termination fee) + $18 (activation fee) + $55? (one month of service- $40 + $15 data plan)? About $700?
Is this correct, is there any other way to do this?

I ran across an auction going on right now. With 7 hours left it is at $830 (this is w/o it being jailbroken or unlocked). Not sure what it will end at, but it's already above my estimate of total costs. Why wouldn't people just go out and do this themselves instead of paying that much?
http://cgi.ebay.com/Pre-order-Apple-...#ht_906wt_1053

From what I've read on other forums, if you have your phone for less than 30 days you have to return it? I think this is old info, but can someone confirm?

[ianbroste]

Your math seems correct to me. People will pay more to have it as soon as possible since iPhones pre-orders are being pushed further and further back. I don't see how they could make you return your phone and either way you will have it for 30 days (one month of service).

[vegeto2k2222]

Guess I'll also lose about 10% of the final sales price to eBay and PayPal fees.

I'll be checking more auctions out, but it should end above $1,000 for it to be even worth it.

[mardogg44]

I'm not 100% sure of this, but.. I think if you cancel before a certain time, you will end up being charged the RETAIL price of the phone. I know that they will do that, I just don't know what the time frame is. Good Luck

[vegeto2k2222]

Really full retail price? So $700 for a 32GB?

[vegassteven]

Many of these people have planned on buying it off contract to sell. They don't have to factor in ETF and when they can cancel.

[Lord Ceo]

Maybe you should open lines for people to buy them through you then you have them pay some of the termination fee.