AT&T Adds 'Next 24' Installment Plan For Lower Monthly Payments

Cutthroat competition in the wireless space has the big four -- AT&T, Verizon, Sprint, and T-Mobile -- all trying to one-up each other with what seems like a constant roll out of new plans. You can be forgiven for not keeping up with them all -- that's our job, and in case you missed it, AT&T this week announced a new Next 24 tier that spreads out smartphone payments over 30 months.

The new option joins two other Next plans -- Next 12 and Next 18, which spread out payments over 20 months and 24 months, respectively. Confused by the number scheme? Take note that the number in the "Next" designation refers to how many months you have to wait to be eligible for an upgrade, in which case the payments start anew. If you choose not to upgrade, you can continue making payments for the full term to own the device outright. To make it simple:

• Next 12: 20 monthly payments to pay off device; eligible to upgrade after 12 months
• Next 18: 24 monthly payments to pay off device; eligible to upgrade after 18 months
• Next 24: 30 monthly payments to pay off device; eligible to upgrade after 30 months

"Customer response to AT&T Next has been great. With a variety of payment options, they can choose the device and plan that fits their budget," said David Christopher, chief marketing officer, AT&T Mobility. "AT&T Next gives customers flexible pricing options at an incredible value on a reliable network that keeps them connected."

AT&T Next plans are available for any current smartphone AT&T offers. There's no interest, with installments ranging from $10 to $50 per month, depending on the device. As an added incentive, customers who switch to AT&T and activate a new line of service with a smartphone on AT&T Next will receive a $150 bill credit.