Apple iPhone fans were searching vigorously to find a solution to have an iPhone 5 and not have to worry about the data usage, after a shocking rumor that Verizon is dumping their $29.99 unlimited data plan.

Leaked information, according to DroidLife, has said that Verizon will follow the footstep of AT&T, who has discontinued its unlimited data plan last year with the launch of iPhone 4. The new Verizon data plans, expected to start on July 7, will come in four packages: $10/75MB, $30/2GB, $50/5GB, and $80/10GB.

For existing Verizon customers with unlimited data plan, the contract will be “grandfathered in”, which means they are able to keep their current plan even after the July 7 date.

It appeared that those who have been waiting eagerly for the iPhone 5 have fallen into dilemma. Is it better to get an iPhone 4 now with the unlimited data plan? Or is it worth waiting until the launch of iPhone 5 (rumored to be in September) and stuck with limited data plan?

Although there are many who use far less than 2GB of data per month, Nielsen reporting has shown a significant 89 percent growth in data usage in the past 12 months.

Report on Clicker Blog indicated that 2GB will only allow “200 minutes of standard-quality video watching”.

If you wish to have an iPhone 5 and be on the Verizon’s unlimited data plan, here is one leeway - although it will cost you a little.

 - First, you make a contract with Verizon now, say with iPhone 4 ($200), and get on the unlimited data plan.
- IMPORTANT: Keep everything that came with the phone – including the case, manual, etc.
- For the next 2-3 months, be very careful and keep the mint condition of the phone.
- When iPhone 5 comes out, get the iPhone 5 at the full price ($700-800 estimated). You might be able to find a cheaper price at eBay or similar sites, though it is unlikely.
- Your unlimited data plan will be “grandfathered in”. Now you have an iPhone 5 with unlimited data plan.
- Sell your 2-month iPhone 4 immediately. If you are lucky, you may be able to sell yours at around $400.

Would you be willing to pay the price for an iPhone 5 with unlimited plan? Or would you rather find alternative ways?