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They would have to sign another contract for another 24 months to get it, nobody was getting an upgrade on the existing contract because it's just a bundle of Google services (One, YT Premium etc.) and financing on the phone. And if you don't care about the services, Google's two year financing is cheaper than this bundle.
Fair point. It'd could've been contingent on the financing model, but looks like the phone is evenly financed over the entire 2 year period.
It's confusing because they make it sound like a privilege. "Eligible for a new phone" = "You can finance the purchase of a new phone at full price just like everyone else, and you have to give back the old phone you already paid for".
You don't have to give back the old phone if you financed the full cost.
You're right, I was confusing it with the Apple plan.