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This is a new thing Verizon is doing and I have to say, I have fallen in love with them more now. My wife and I were talking about something like this because TMobile and AT&T have some something similar, but theirs is thin a year. Well, introducing a thing called Verizon Edge.
Basically, if you have a two year contract right now and are in one, you can't do this until you're eligible to upgrade in two years, or you add another line end cancel that one. But it's now contract free. You pay anywhere from $15-about $35 a month extra for any smartphone on your bill. That's financing the phone, but without a contract. You also get to do the same thing with tablets. I did this last year for my wife's iPad 4th gen, before Verizon Edge became possible, but they were allowing you to do a finance option with it, adding $60 extra a month on your phone bill. I paid $120 down, and got her the LTE 32 GB one. Anyways, now you don't have to pay anything down except for sales tax
Want the even better news?!
In six months, you're bored with your phone, well you've already paid for half of the devices value, so they let you trade up to whatever other device you want. No kicks, no gimmicks, just swap and start paying for that one.
I don't work for Verizon, but I've paid these fuckers over 3 grand in one year so yeah. I might have to call and cuss them out a lot, but they always manage to get me where I need to be. Especially with my wife's Samsung Galaxy S3 which has jacked up three times now in one year.
So if you're all curious which carrier to go with, I'd jump on ship with these guys.