If you’re looking for an iPhone 5, do you want to pay an extra $450 now, or an extra $1000 over the next two years? Buying an unlocked phone and using a no-contract carrier can give you sticker shock initially, but you can save quite a bit of money in the long run. Our number-crunching colleagues down the hall at Consumer Reports looked into it, and found that if you can pay for your new phone itself out of pocket, going unlocked and contract-free is a much better deal. [More]
