Carrier Verizon Edge (merged)

[Chris092881]

Verizon Edge

So apparently VZW is following suit and allowing members a chance to upgrade their phones earlier with their new Edge program. I have no idea how it works as I just saw the commercial on television. I'll research it, but before I do, does anyone know how it will affect us iPhone 5 users? I'm not due for an upgrade until the end of June 2014. Has anyone inquired about how this will reflect on the iPhone 5S? If I sign up for this new program do I automatically become iPhone 5S eligible? I swore I wasn't gonna upgrade as my 5 is fine, but now I'm getting anxious with the official 5S announcement later today.

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I just checked it out. It's bogus. Basically you have to be upgrade eligible and instead of paying for your new device all up front you just space the payments out over 24 months, then trade in your old device for a new one, rinse, repeat. VZW can't do any better than that? I wanna upgrade every year and would pay extra monthly to do so. Another fail for VZW customer service.

 

[MrSniffles69]

Verizon Device Payment Plan

Hello All,

Does anyone have any experience with this plan?

I am not talking about the new EDGE plan that verizon offers but the Device Payment Plan,

The plan were you can buy a phone at full retail price but pay it off in 12 months, with a 2 dollar fee monthly.

I am looking into this option to get the 5s but looking for anyone with knowledge.

Supposedly you need to be qualified for this? Was wondering if anyone has tried and been accepted or rejected?

Here is the link to the plan I am talking about:

http://yourguide.vzw.com/devices/device-payment-plan/

THANKS

 

[MrSniffles69]

So apparently VZW is following suit and allowing members a chance to upgrade their phones earlier with their new Edge program. I have no idea how it works as I just saw the commercial on television. I'll research it, but before I do, does anyone know how it will affect us iPhone 5 users? I'm not due for an upgrade until the end of June 2014. Has anyone inquired about how this will reflect on the iPhone 5S? If I sign up for this new program do I automatically become iPhone 5S eligible? I swore I wasn't gonna upgrade as my 5 is fine, but now I'm getting anxious with the official 5S announcement later today.

----------

I just checked it out. It's bogus. Basically you have to be upgrade eligible and instead of paying for your new device all up front you just space the payments out over 24 months, then trade in your old device for a new one, rinse, repeat. VZW can't do any better than that? I wanna upgrade every year and would pay extra monthly to do so. Another fail for VZW customer service.

Please see my post below above. There is another plan that is not the same as edge,

Where you can just pay full retail price but divide the payments into 12 months.

This is only available in story, but you have to qualify for this.

My question is though they dont specify how to qualify.

I am wondering if anyone has tried it

 

[MrSniffles69]

Can anyone confirm if they have used the Device Payment Plan option?

I am NOT speaking about EDGE these are completely different plans.

Supposably the device payment plan is only offered inside the stores not online or by phone and you have to be qualified not really sure if its hard to qualify or not.

And unlike Edge with this plan you have to pay in 12 months.

I tried finding out if I was qualified over the phone but they told them I would have to go find out in store.

They did tell me I was qualified for an Edge plan if I opened up a new line.

Does anyone know the qualifications for an Edge plan?

 

[The Pearl]

New Verizon Edge Program

is anyone using the new Verizon Edge Program?

If I understand it correctly, this is how it works.

You buy phone at retail price and pay for it in 24 monthly payments, one added to your monthly bill each month. After six months or when the phone is 50% paid off you can turn it back in for an upgrade.

Example: iPhone 5s 32 GB wifi + LTE. Cost = $750

$750 divided by 24 = 31.25 per month

After 12 months you invested $375 or half of total cost of $750

You can turn 5s back in and next year this time get iPhone 6 and continue with monthly payments for iPhone 6

Get new phone every year for 1/2 price.

It's only $175 more than paying $200 for subsidized phone where you are locked into a contract.

I kinda like it. Your thoughts and opinions!

https://m.verizonwireless.com/Tablet/Edge

 

[cnotes2019]

If you keep it the full 24 months do you get to keep the phone and get a new one or do you still have to trade it in ?


Sent from my iPhone using Tapatalk 2

 

[Sheldonsmith]

Verizon is still coming out ahead... I had high hopes for it as well but your math makes sense, and most likely, it is just easier to live with your phone for two years... It seems to me that the better upgrades seem to come out with the S revisions... (after the first version has been fully baked and iOS bug fixes addressed).

 

[DollaTwentyFive]

where you are locked into a contract.



https://m.verizonwireless.com/Tablet/Edge

You're still in a "contract." Just a different form of one. If you want to walk away from Verizon after 4 months of service, you can't without paying the balance of your phone, etc... So you are still under a legal obligation to pay them. It's a contract dressed up in a black dress and feather boa.

 

[The Pearl]

If you keep it the full 24 months do you get to keep the phone and get a new one or do you still have to trade it in ?


Sent from my iPhone using Tapatalk 2

Talked to Verizon CS today but didn't ask that question, so I'm not sure. I would assume if you wanted to continue in the program you would trade in.

 

[0007776]

It's only $175 more than paying $200 for subsidized phone where you are locked into a contract.

It seems like you could get more than half of the full price back by selling that subsidized phone, or even one that you bought off contract if you want to avoid a contract. I guess this could be a decent deal if you don't want to go through the hassle of reselling your phone, but you'd probably come out ahead if you just bought the phone and sold it on your own when you want to upgrade instead of renting it.

 

[eyespii]

is anyone using the new Verizon Edge Program?

If I understand it correctly, this is how it works.

You buy phone at retail price and pay for it in 24 monthly payments, one added to your monthly bill each month. After six months or when the phone is 50% paid off you can turn it back in for an upgrade.

Example: iPhone 5s 32 GB wifi + LTE. Cost = $750

$750 divided by 24 = 31.25 per month

After 12 months you invested $375 or half of total cost of $750

You can turn 5s back in and next year this time get iPhone 6 and continue with monthly payments for iPhone 6

Get new phone every year for 1/2 price.

It's only $175 more than paying $200 for subsidized phone where you are locked into a contract.

I kinda like it. Your thoughts and opinions!

https://m.verizonwireless.com/Tablet/Edge

It's a huuuuge scam that obfuscates how hard they're nailing you in the ass.

Look at it this way - with the "old" contract pricing model, verizon is subsidizing the cost of your phone. The 32gb iPhone is actually $750, but you only have to pay $300 with a new contract because VZW is subsidizing $450 of that cost. But they're not paying $450 out of the kindness of their hearts - what they're doing is tacking on an "invisible" fee to your monthly plan, and forcing you to sign a 24-mo contract. If you work out the math, $450 / 24 mo = $18.75/mo. That's why breaking a contract requires you to pay an early termination fee - they have to recoup the cost of that subsidy from you.

The reason VZW edge is such a terrible deal is because you're now being forced to pay for your new phone TWICE. You're paying that invisible fee that's built in to your plan, plus an EXTRA monthly fee which you worked out yourself to $31.75/mo. Over one year, you've paid ($31.75 + $18.75) * 12 = $606. That's $606 to rent a smartphone for a year, almost enough to just buy the thing outright!

Putting aside the built-in "invisible fee" that we can't get out of paying, here's the math breakdown for a yearly iPhone upgrade plan over 5 years:

Subsidized model:
Year 1: $200
Year 2: $650 (full price phone) - $300 (sell old iPhone)
Net so far: $550
Year 3: $200 (subsidized phone) - $300 (sell old iPhone)
Net so far: $450
Year 4: $650 - $300
Net so far: $800
Year 5: $200 - $300
Net so far: $700

VZW edge:
$23/mo * 60 months = $1380 over 5 years

You are not saving money with EDGE. The only people that it is good for are people that don't have the admittedly large amount of money up front to pay for a new device, and also those who are too lazy to trade their phones in on gazelle.

 

[Jimbo47]

I've gave up trying to explain how this program works and how it actually does BENEFIT some people, especially if you plan on upgrading at 12 months or before that.

You are paying for your phone twice when you pay full blown retail! It's the same damn thing!

If you are on unlimited data, verizon has verizon Max which allows you to have 6gb of data per month (NOT SHARED!!!) You must be on Verizon Edge to get the max plan. I will be signing up for Edge when I get the 5S. And in 1 year I will sign up again when I get the iPhone 6, spending roughly the same amount (if not less) than a person who buys each phone at full retail (or pays an ETF fee when the 6 is released). Even after they resell their phone, I will still come out on top.

 

[jason2811]

I've gave up trying to explain how this program works and how it actually does BENEFIT some people, especially if you plan on upgrading at 12 months or before that.

If you are on unlimited data, verizon has verizon Max which allows you to have 6gb of data per month (NOT SHARED!!!) You must be on Verizon Edge to get the max plan. I will be signing up for Edge when I get the 5S. And in 1 year I will sign up again when I get the iPhone 6, spending roughly the same amount (if not less) than a person who buys each phone at full retail (or pays an ETF fee when the 6 is released). Even after they resell their phone, I will still come out on top.

I'm in the same situation as you and considering doing the Verizon Max deal. But can you explain some of the benefits that you mentioned?

 

[617aircav]

is anyone using the new Verizon Edge Program?

If I understand it correctly, this is how it works.

You buy phone at retail price and pay for it in 24 monthly payments, one added to your monthly bill each month. After six months or when the phone is 50% paid off you can turn it back in for an upgrade.

Example: iPhone 5s 32 GB wifi + LTE. Cost = $750

$750 divided by 24 = 31.25 per month

After 12 months you invested $375 or half of total cost of $750

You can turn 5s back in and next year this time get iPhone 6 and continue with monthly payments for iPhone 6

Get new phone every year for 1/2 price.

It's only $175 more than paying $200 for subsidized phone where you are locked into a contract.

I kinda like it. Your thoughts and opinions!

https://m.verizonwireless.com/Tablet/Edge

You did not take into account that you are already paying for the phone in your monthly bill since it's the same on edge as it would have been if you got a subsidy.

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It's a huuuuge scam that obfuscates how hard they're nailing you in the ass.

Look at it this way - with the "old" contract pricing model, verizon is subsidizing the cost of your phone. The 32gb iPhone is actually $750, but you only have to pay $300 with a new contract because VZW is subsidizing $450 of that cost. But they're not paying $450 out of the kindness of their hearts - what they're doing is tacking on an "invisible" fee to your monthly plan, and forcing you to sign a 24-mo contract. If you work out the math, $450 / 24 mo = $18.75/mo. That's why breaking a contract requires you to pay an early termination fee - they have to recoup the cost of that subsidy from you.

The reason VZW edge is such a terrible deal is because you're now being forced to pay for your new phone TWICE. You're paying that invisible fee that's built in to your plan, plus an EXTRA monthly fee which you worked out yourself to $31.75/mo. Over one year, you've paid ($31.75 + $18.75) * 12 = $606. That's $606 to rent a smartphone for a year, almost enough to just buy the thing outright!

Putting aside the built-in "invisible fee" that we can't get out of paying, here's the math breakdown for a yearly iPhone upgrade plan over 5 years:

Subsidized model:
Year 1: $200
Year 2: $650 (full price phone) - $300 (sell old iPhone)
Net so far: $550
Year 3: $200 (subsidized phone) - $300 (sell old iPhone)
Net so far: $450
Year 4: $650 - $300
Net so far: $800
Year 5: $200 - $300
Net so far: $700

VZW edge:
$23/mo * 60 months = $1380 over 5 years

You are not saving money with EDGE. The only people that it is good for are people that don't have the admittedly large amount of money up front to pay for a new device, and also those who are too lazy to trade their phones in on gazelle.

Good post. It's a total scam to catch those who are naive.

 

[Jimbo47]

I'm in the same situation as you and considering doing the Verizon Max deal. But can you explain some of the benefits that you mentioned?

I posted in another thread explaing how with edge if you upgrade within 12 months you will be paying less than you would if you bought a new phone at full retail cost (even after reselling the phone). If you keep the phone for more than 12 months you are now paying more for it than you would if you DID pay full retail.

These #'s don't include the fee hidden in contracts since they are the same regardless of what plan you have.

Say the phone is $650 retail and you buy outright. After 1 year, you sell it for $300. That phone now costs you a total of $350.

Say you "rent" the same phone with Edge. Over 24 months, it would be $27.08/month. You can upgrade after 12 months have been paid. If you do, that is $324.96

You would save ~$25 with Edge. Now my math is most likely wrong, so I'm sure somebody will gladly correct me. I hate selling phones. So even if I lost a few dollars with edge, I still wouldn't care because it saves me the hassle of finding somebody to buy it. I would just eat the difference.

 

[eyespii]

I posted in another thread explaing how with edge if you upgrade within 12 months you will be paying less than you would if you bought a new phone at full retail cost (even after reselling the phone). If you keep the phone for more than 12 months you are now paying more for it than you would if you DID pay full retail.

These #'s don't include the fee hidden in contracts since they are the same regardless of what plan you have.

Say the phone is $650 retail and you buy outright. After 1 year, you sell it for $300. That phone now costs you a total of $350.

Say you "rent" the same phone with Edge. Over 24 months, it would be $27.08/month. You can upgrade after 12 months have been paid. If you do, that is $324.96

You would save ~$25 with Edge. Now my math is most likely wrong, so I'm sure somebody will gladly correct me. I hate selling phones. So even if I lost a few dollars with edge, I still wouldn't care because it saves me the hassle of finding somebody to buy it. I would just eat the difference.

Compared to buying a phone at full retail price every year, edge might come out slightly ahead. However, most of us will get discount pricing every other year, which saves $450 every two years.

 

[The Pearl]

Based on some of the replies, would it be true to say that anyone who pays full retail at Verizon and still has to pay the $40 per month for the line is paying for the phone twice?

 

[alent1234]

I posted in another thread explaing how with edge if you upgrade within 12 months you will be paying less than you would if you bought a new phone at full retail cost (even after reselling the phone). If you keep the phone for more than 12 months you are now paying more for it than you would if you DID pay full retail.

These #'s don't include the fee hidden in contracts since they are the same regardless of what plan you have.

Say the phone is $650 retail and you buy outright. After 1 year, you sell it for $300. That phone now costs you a total of $350.

Say you "rent" the same phone with Edge. Over 24 months, it would be $27.08/month. You can upgrade after 12 months have been paid. If you do, that is $324.96

You would save ~$25 with Edge. Now my math is most likely wrong, so I'm sure somebody will gladly correct me. I hate selling phones. So even if I lost a few dollars with edge, I still wouldn't care because it saves me the hassle of finding somebody to buy it. I would just eat the difference.

with EDGE you have to trade the phone to verizon in good condition. they make money on your bills and by selling your old phone

 

[AuburnApple]

I posted in another thread explaing how with edge if you upgrade within 12 months you will be paying less than you would if you bought a new phone at full retail cost (even after reselling the phone). If you keep the phone for more than 12 months you are now paying more for it than you would if you DID pay full retail.

These #'s don't include the fee hidden in contracts since they are the same regardless of what plan you have.

Say the phone is $650 retail and you buy outright. After 1 year, you sell it for $300. That phone now costs you a total of $350.

Say you "rent" the same phone with Edge. Over 24 months, it would be $27.08/month. You can upgrade after 12 months have been paid. If you do, that is $324.96

You would save ~$25 with Edge. Now my math is most likely wrong, so I'm sure somebody will gladly correct me. I hate selling phones. So even if I lost a few dollars with edge, I still wouldn't care because it saves me the hassle of finding somebody to buy it. I would just eat the difference.

Your math only works if you are paying full price for the phone every year, which you aren't. You are only eligible for Edge Up if you are upgrade eligible. A new phone when you are upgrade eligible would cost you $200, not $650.

 

[Jimbo47]

Compared to buying a phone at full retail price every year, edge might come out slightly ahead. However, most of us will get discount pricing every other year, which saves $450 every two years.

Yes you are right. But what makes me scratch my head is how people say edge is a scam, but yet those same people buy a new phone every single year at full retail. They are doing essentially the same thing edge customers are doing, but because they aren't on edge means its OK.

 

[alent1234]

Yes you are right. But what makes me scratch my head is how people say edge is a scam, but yet those same people buy a new phone every single year at full retail. They are doing essentially the same thing edge customers are doing, but because they aren't on edge means its OK.

at&t you don't buy a phone at full retail every year since they have the $449 upgrade after a year. sell the old one and your cost is only $100 or $150.

with edge its over $300 out of pocket

 

[Zepaw]

Assuming the costs are reasonable I'm more than happy to use this or the similar programs on other carriers. I don't want to deal with hassle and upfront costs when I upgrade, I'd rather just send this one back.

 

[617aircav]

Based on some of the replies, would it be true to say that anyone who pays full retail at Verizon and still has to pay the $40 per month for the line is paying for the phone twice?

Yes, but some do this to keep unlimited data. In that case there is the benefit of unlimited data which is priceless if you are a heavy data user. I paid $650 for my phone but i went prepaid for $40 a month, instead of contract for $100 a month minimum.

 

[The Pearl]

Looking at this from another angle:

32 GB iPhone 5s on contract for 24 months = $299

Retail same phone = $750

Edge Up Program = 24 monthly payments = $31.25 each

After 12 months at $31.25 = $375 out of pocket

Now phone is 50% paid off: next year this time turn 5s back in and Edge Up to iPhone 6

You really on spent $75 more than the $299 you paid to be locked into a 2 year contract.

$75 divided by 12 = $6.25 per month

New phone every 12 months for only $75 more than contract price

If you want new model every year without contract, without hassle of Craig's list or ebay sounds like a no brainner to me.

Thoughts

 

[Sheldonsmith]

Taking your logic one step further, are you still on Edge once upgrading to the iPhone 6? Or are you free and clear?