This story is just too good not to share and it is far from unique. A man has been leasing a phone from AT&T since 1952 and has been paying $4.42 per month for it. Now I am not sure if this price has stayed the same over the years and I would imagine there is some additional tax on this figure. But for simplicities sake let’s do the basic math on this keeping the cost constant.
55 years = 660 months
660 months * $4.42 = $2,917.20
This is a pretty staggering amount. The service is now provided by Verizon by the way and according to this story from the Bangor Daily News (Bangor, Maine) if the logo on the phone wasn’t different from the company providing service he may still be paying!
Having said this, to AT&T’s credit, the phone is still working. The replacement phone for $7 will likely break in 18 months.