If your mobile phone contract is up for renewal it can be a great opportunity to reassess your finances. Whether you’re no longer using the amount of data that you used to, or you want to switch to a phone with less storage, you can save money by moving to a contract that meets your needs better.
It also pays to compare your options. Your own mobile phone company might not offer the cheapest monthly instalments so changing to a new one could save you hundreds of pounds over the course of your contract.
Below we explore:
If you’re able to change, we’ve rounded up some of the best deals available:
Vodafone is offering the latest iPhone and unlimited data at £44 a month.
All deals below are provided by our partner, USwitch.
Apple iPhone 15 Plus 128GB
· Data: Unlimited 5G data
Apple iPhone 14 128GB
· Data: Unlimited 5G data
Apple iPhone 13 128GB
· Data: 150 GB a month of 5G data
· Contract length: 24 months
· Monthly cost: £27 a month
· Upfront cost: £35
Refurbished Apple iPhone XR 64GB
· Data: 30 GB of 5G dataVodafone is offering the latest Samsung Galaxy and unlimited data at just £42 a month.
Samsung Galaxy S24 128GB
· Data: Unlimited 5G data
Samsung Galaxy S23 128GB
· Data: Unlimited 5G data
Samsung Galaxy Z Flip5 256GB
· Data: Unlimited 5G data
· Contract length: 24 months
· Monthly cost: £39 a month
· Upfront cost: £19 a month
Vodafone is offering the latest Google Pixel and £100 GB data at just £26 a week. This is just over half the cost of the newest iPhone with the same company.
Google Pixel 8 128GB
· Data: 50 GB a month of 5G data
· Contract length: 24 months
· Monthly cost: £26 a month
· Upfront cost: £25 upfront cost
Google Pixel 7a 128GB
· Data: 30 GB a month of 5G data
Google Pixel Fold 256GB
· Data: Unlimited 5G data
· Contract length: 24 months
· Monthly cost: £44.99 a month
· Upfront cost: £199 a month
*Uses Three’s network
Instead of paying for a phone and its broadband outright, you can spread its cost over a fixed period. This can be anything between one and three years.
Each month you’ll be required to pay back a set amount to your mobile phone company which covers:
Most mobile phone companies will reserve the right to increase these instalments each year in line with inflation. This is either determined by the Consumer Price Index (CPI) or the Retail Price Index (RPI), which is explained in our guide.
If you do opt for a monthly phone contract, it’s vital to ensure that you make your monthly repayments. Failure to do so means your mobile provider has the right to report this to the credit reference agencies. Missed payments could lead to a worsened credit score and therefore more limited borrowing options in the future.
As your mobile contract comes to an end, your phone company will normally get in touch with you to explore your options. These may include:
It’s best to decide what you want to do before your contract ends. Once it’s up, most mobile phone companies won’t switch off your connection, they’ll just continue to charge you the same tariff for using its network.
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It could make sense to switch your phone contract to a new mobile phone company because, just as when switching broadband, competition is rife in this sector. In order to win your custom, rivals often make enticing offers, such as cheaper monthly contracts or throwing in added benefits – such as a streaming service subscription.
Before you do move it’s worth looking at what your current mobile phone company has to offer too. They could offer you a loyalty discount which could save you the hassle of switching.
You can still keep your phone number if you’re changing phone company. To do this you’ll need to request a PAC code from your old phone company, which you can then pass on to your new network partner.
One option you may wish to consider is buying your phone outright and then pairing it with a Sim-only deal. But perhaps surprisingly this isn’t always the cheaper option when you compare it to a pay monthly option.
To illustrate how, we’ve compared the numbers on the newest iPhone:
| Device | Upfront cost from retailer | Monthly cost (24 months via EE) | Total cost over 24 months |
| Apple iPhone 14 128GB | £899 | £33 for 5G unlimited data | £1,691 |
| £30 | £57.57 for 5G unlimited data and device | £1,411.36 |
But if you’re looking for an Android phone on a different provider things suddenly change:
| Device | Upfront cost from retailer | Monthly cost (24 months via O2) | Total cost over 24 months |
| Samsung Galaxy S24 128GB | £799 | £18.99 for 5G 30GB a month data | £1,254.76 |
| £30 | £62.65 for 5G 30GB a month data and device | £1,533.60 |
It’s never guaranteed that you’ll save money by buying your device outright, so always do your homework before committing to a deal if your primary concern is to save money.
It’s also worth noting that the above examples didn’t consider any deals or promotions running at the time. These can make all the difference, so make sure you keep an eye out for bargains. For example, if you’re an existing customer who has a great record of paying your bills on time, you might be in line for a personalised loyalty bonus.
One final thing to note is that the above examples factored in device costs from the retailer itself – so Apple or Samsung. Some mobile providers, such as Vodafone, advertise that you can save money on certain deals by paying for the device upfront through them.
Before committing to a new mobile phone contract, make sure you’ve considered whether the deal is right for you. To find out if it is, you may wish to consider:
If you’re happy with your current device, opting for a Sim contract will probably work out as the cheaper option.
Yes. Mobile phone companies often check your credit score before giving you a contract. If you’re new to the UK and you haven’t built a credit score yet it’s best to evaluate your options by getting in touch with your mobile provider.
This depends on how far you’re into your contract and its terms. Some mobile providers prohibit you from selling the device until you’re more than six months into your repayments, when you’ve technically paid off the device on your contract.
You could sell your device and swap the Sim card over to a new phone, but you’ll still be obliged to make your contractual monthly repayments. Remember, missing these payments means you could be putting your credit score at risk.
Some of the products promoted are from our affiliate partners from whom we receive compensation. While we aim to feature some of the best products available, we cannot review every product on the market.
Although the information provided is believed to be accurate at the date of publication, you should always check with the product provider to ensure that information provided is the most up to date.
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Times Money Mentor shows you how in September with its free four-week newsletter course. Sign up now for a richer retirement. When you subscribe, you will also receive our weekly newsletter.
By entering your details, you agree these will be used according to our privacy policy. You can unsubscribe, although if you do you will stop receiving both newsletters.
Look out for the first email on 3 September. You'll also receive our regular weekly round-up of money matters.
Times Money Mentor shows you how in September with its free four-week newsletter course. Sign up now for a richer retirement. When you subscribe, you will also receive our weekly newsletter.
By entering your details, you agree these will be used according to our privacy policy. You can unsubscribe, although if you do you will stop receiving both newsletters.
Look out for the first email on 3 September. You'll also receive our regular weekly round-up of money matters.
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