I want to purchase an EC2 Reserved Instance for the pricing benefit, but I'm not sure I will use a particular instance type all the time. Will Convertible Reserved Instances work for me?

Convertible Reserved Instances work the same way as Standard Reserved Instances, but you can exchange them for other Convertible Reserved Instances later.

When you purchase a Convertible Reserved Instance, the capacity and Reserved Instance pricing are allocated to your account. If your computing needs change, you can exchange the Reserved Instance for comparable Reserved Instances depending on their value. Exchanging Convertible Reserved Instances is free, but you might need to pay a true-up cost if the value is lower than the value of the Reserved Instances you're exchanging for.

Exchanging a Convertible Reserved Instance is different from modifying a Standard Reserved Instance; for more information, see Modifying Your Standard Reserved Instances.

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Published: 2017-05-31