Mobile phone users are being urged to upgrade their handsets or change their deals at the end of their contract or risk wasting money on fully-paid for phones.
Phone contracts are designed to include the cost of paying off the handset, which means staying on the same contract on a month-by-month basis after the initial fixed-term period has expired can be costly.
According to deals website VoucherCodesPro, a quarter (25%) of mobile users failed to upgrade or change deal at the end of their contract. More than half (52%) of those who did not immediately upgrade said they had simply forgotten to do so, while nearly three-quarters (74%) did not realise they were still paying off a phone that they now fully owned.
Those who didn’t upgrade during the initial early-upgrade period or at the end of their contract waited on average seven months to change their mobile deal.
With the average phone contract in the UK costing £43 per month, according to VoucherCodesPro, this means mobile users could be losing out on hundreds of pounds.
George Charles, spokesperson for VoucherCodesPro comments: “It’s shocking to see that some customers are going over their contracts by seven months and still being charged the same monthly cost they were paying during their contract.
“Once the contract has ended, yes it should go onto a rolling contract, but it shouldn’t include the cost of the handset as that’s already been paid off in the eyes of the contract companies. That £301 over the seven months should be a lot less to factor in that the handset cost has been paid off.”
If your contract is coming to an end, use a mobile price comparison website to check the best deals for your use. You could consider upgrading to the latest handset and getting a new contract with your existing provider, alternatively, with the phone paid for in full, you could get a cheaper deal by keeping your handset and getting a cheap Sim-only deal. You could also haggle for a better contract deal with your existing provider if you like your handset and the provider’s service.