Yes except you are paying a high retail price for the phone. I paid $100 for a top-of-the-line phone and the rest was subsidized in my contract price, I didn't

Yes except you are paying a high retail price for the phone. I paid $100 for a top-of-the-line phone and the rest was subsidized in my contract price, I didn't have to pay an installment plan. Yeah, if the phone lasted more than two years it would be an okay deal but how often does a smartphone ever last that long without being lost, broken, or obsolete? You are better off buying it somewhere else--even on a credit card--and staying on the old $15/mo contract.