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Carrier Verizon Edge (merged)
- Thread starter iDominic
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That's as bad as renting to own a $500 TV from rent-a-center for $26 a week for 3 years
It's worse as you never own in this case. You pay enough to own, but you don't.
Why would you want to own last year's phone? *troll smirk* (shh! We'll see if they take the bait)
You do realize that you will still be paying more for the phone than it's worth right? The $20 subsidy is built into the contract pricing. So for every month of service after buying the phone for $650, you are paying $20 more for every month. So if you keep the phone for a year, you'll be paying $890 for a $650 phone. With Edge, you'll pay about $27.09 per month, + $20 per month for the subsidy built into the contract. If you work out the math that equals about $565 for 1 year. So in your case, Edge is the better deal. But ONLY if you keep the phone for exactly 12 months and NO more. I've tried pointing this out multiple times but nobody seems to understand it. You can obviously sell the phone if you buy it at full retail, but you aren't going to get back your $890 that you've spent. You'll be lucky to get half of that back.
I was going to sign up for Edge, it sounds like a good deal for someone like me who likes to upgrade every year. BUT, I just found out they don't allow it for unlimited data plans. Looks like I'll have to buy the phone straight out.
Yep they take away unlimited data which is a bummer. I would love to keep my unlimited just in case but I don't ever use over 2 gb of data because I'm on wifi nearly everywhere I go so it doesn't effect me as much. It is a good deal if you upgrade every year. All of these "Comparing" articles are based on a 2 year cycle, which is why they make these plans look like a complete rip off. But if you use the upgrade every year (or even every 6 months) you benefit, not Verizon.
I don't understand this logic. The built in subsidy is standard (you pay no matter what) so there is no need to bring that into the equation. Just look at the phone itself. You pay 650 for iPhone full price and afterwards, you can sell it for 400 easily. That way, for one year use, you only spent 250. You get Edge, you pay 650/2=325. 75 dollars more. How is this a deal? Now if you get Android, then the difference might be smaller or better but not for an iPhone.
Verizon benefits because they get that phone of yours and resells it as refurbished for 450. Now they made 125 on it. I say it is a deal for the carrier and not you.
Now, why even bother doing this program when you sign a two year contract you get the phone for 200 and then you can buy a new one for 650 for a total of 850 spent in two years. Sell the first phone for 400 and you only spent 450 for the two phones for two years. Edge would be 650 for two years. Still not a deal by any means or makes financial sense.
Yeah I only use 1GB per month but switching to a Share Everything plan would be worse for me. Currently for unlimited I pay $90. If I switched to a 2GB plan it would be $100 per month for 2GB or $110 per month for 4GB. Looks like I'll have to buy the phone for retail price. It's fine I guess but 1) it's difficult to put up $650 at once; and 2) it's annoying to find a seller to buy the phone a year from now (VZ Edge solved this problem).
May I make a suggestion? Start putting away 27.09 per month from now for two years. That way you will have money to buy a new phone retail. But you need to keep putting away 27.09 for life to get new phone every year. This way, you come out ahead and also earn interest while holding that money in a savings account.
The subsidy adds to the total cost (over the course of 2 years) which is why I mentioned it. People are acting as if buying the phone outright costs them ONLY $650, which is not true after you add in the subsidy. Some people don't feel comfortable selling their phones online. So for those people, in my opinion, Edge makes sense. They wouldn't be getting the difference back anyway if they don't sell. Regardless of how the math works out, some people are going to like these payment options, and some people won't. For people who don't want to spend $650 all at once, like me, it makes sense.
And that is exactly why this is a lousy deal. Because you pay full price for a phone and pay subsidy. That's paying twice for the same phone. But if you think this makes sense for you, who am I to say its a bad deal. Good luck.
Currently I have unlimited data, but wouldn't be to upset if I switched to 2GB. I want to switch my line and the other line on my plan to share everything with 4GB.
Just so you know, you have the option of keeping unlimited and signing up for Verizon's "Device Payment Plan." The plan splits the cost of the phone over 12 months and you get to keep unlimited data. This works well if you don't want to throw down a large amount of money at once to by the phone at retail price.
If you keep the phone for a year it's cheaper. And do it every year.
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I really don't mind paying the $20 subsidy every month. Verizon for me is excellent. I don't know what a dropped call is, I always have data and talking with customer service has always been pleasant. I don't even think of it as a subsidy fee anymore. You get what you pay for.
To me, the Edge program would only appeal to folks who buy yearly and don't sell their old iPhones. They pay the most.
Current Verizon method
(if you don't sell your old iPhone each year)
$199 - buy iPhone year 1, sign contract, get subsidized iPhone price
$649 - buy iPhone year 2
$199 - buy iPhone year 3, sign contract, get subsidized iPhone price
$649 - buy iPhone year 4
-------------
$1696 total
Current Verizon method
(if you do sell your old iPhone each year)
$199 - buy iPhone year 1, get subsidized iPhone price
$649 - buy iPhone year 2
-$300 - sell iPhone year 1
$199 - buy iPhone year 3, get subsidized iPhone price
-$300 - sell iPhone year 2
$649 - buy iPhone year 4
-$300 - sell iPhone year 3
-------------
$796 total
Verizon Edge program, where you pay $27/month for an iPhone
(assuming you upgrade after month 12 each year)
$324 - use iPhone year 1, return to Verizon when you upgrade
$324 - use iPhone year 2, return to Verizon when you upgrade
$324 - use iPhone year 3, return to Verizon when you upgrade
$324 - use iPhone year 4
-----------------
$1296 total
Verizon Edge Plan Questions ?
So basically I've been thinking of getting this new plan to be able to upgrade every year on verizon to the new iphone instead of being locked in with the 2 year contract. So after doing my research I believe i got it down of what it actually is. - You're gonna end up paying full retail of any phone you get with the plan, you have to have half the phone paid off and have good 6 months payment and when you want to edge up (get a new phone) every 6 months and whenever you do you have to trade your phone in to get the new one. So if what i read is correct your basically still paying off a phone then after you don't even have it still? Meaning you cant go out and sell it even if do want to pay it off fully so you can sell it yourself and get some money back to pay for your next phone. So my question is does Verizon allow you to buy Unlocked iPhones from Apple and just stick your sim card in and get it to work for your current 2 year contract? Since you basically are already paying the same price and you own the phone so you can sell it later on and just repeat the process every year and keep your same plan. If anybody could help with this it would be very much appreciated. Thanks!
So basically I've been thinking of getting this new plan to be able to upgrade every year on verizon to the new iphone instead of being locked in with the 2 year contract. So after doing my research I believe i got it down of what it actually is. - You're gonna end up paying full retail of any phone you get with the plan, you have to have half the phone paid off and have good 6 months payment and when you want to edge up (get a new phone) every 6 months and whenever you do you have to trade your phone in to get the new one. So if what i read is correct your basically still paying off a phone then after you don't even have it still? Meaning you cant go out and sell it even if do want to pay it off fully so you can sell it yourself and get some money back to pay for your next phone. So my question is does Verizon allow you to buy Unlocked iPhones from Apple and just stick your sim card in and get it to work for your current 2 year contract? Since you basically are already paying the same price and you own the phone so you can sell it later on and just repeat the process every year and keep your same plan. If anybody could help with this it would be very much appreciated. Thanks!
This is a complete rip-off. You can still buy the phone outright for full price from verizon without signing up for this.
http://mobile.theverge.com/2013/7/1...hone-upgrade-plan-same-bad-ripoff-as-att-next
http://mobile.theverge.com/2013/7/1...hone-upgrade-plan-same-bad-ripoff-as-att-next
That's exactly what I was thinking! Now I've been reading up that you can't buy CDMA unlocked iphones from apple? Why is that? But you can get a GSM one that doesnt make any sense to me. Would i be able to order it online then for full price when I am able to or? Really dont want to get this plan but do want to get this new phone even though my contract expires next year.
Yeah don't bother with that Edge stuff. The big 2 carriers just want to create the illusion that you're saving money by going with their yearly upgrade plans.
You can still buy an off contract Verizon phone from Apple. I bought my 4S and my 5 from Apple at full price in order to keep unlimited data. Apparently they already come unlocked also. When you go to order your phone it will see that you aren't eligible for upgrade pricing and charge you the full unsubsidized price.
You can still buy an off contract Verizon phone from Apple. I bought my 4S and my 5 from Apple at full price in order to keep unlimited data. Apparently they already come unlocked also. When you go to order your phone it will see that you aren't eligible for upgrade pricing and charge you the full unsubsidized price.
The edge plan is a total ripoff. When you buy a new phone and new contract, most of the cost of the phone is pro-rated through your monthly fee. However, when your contract ends, you continue to pay the same fee, which logically should go down since you have paid off your phone.
You can still buy the phone unsubsidized with no contract extension even though it can only be used on Verizon.
Why only on Verizon? It would be unlocked, so could be used anywhere essentially.
Just buy it in full unsubsidized from Apple with your credit card. Edge is a complete waste and a ripoff.