36 months sucks, but you if you trade in your new iPhone 14 after 2 years you will still do better than buying the phone for full price. My wife has a standard iPhone 12 that we did a 24 month payment with Verizon that basically got us the phone for free. Verizon will pay me $800 over 3 years if we trade that phone in for a new iPhone 14. $800 x 36 months is $22.22 per month, so if we decide to trade it in 2 years from now I forfeit $266 in trade in credits, meaning they gave me $533 for a $800 2 year old phone.
If I buy the iphone 14 from Apple now they will give me $320 for the iphone 12 trade. $533 is pretty damn good, and if she’s not into the iPhone 16 then she can hold out and get full trade in credit for the iPhone 17 when it is shipping (after the full 36 month term). Basically if you want to upgrade every year just trade it in to Apple. But for people like me that have no plans of leaving Verizon due to coverage/service than not trading in an old phone is leaving money on the table.