iPhone 12 Exchanging iPhone 12 at Apple Store Questions

[gregpod9]

A few days ago I got the iPhone 12 64GB with AppleCare+ at the Apple Store. I already used half of its storage space. I'm thinking of exchanging it for the 128GB one. I used my iPhone 7 Plus as a trade in and it applied as a down payment towards it. Also I'm on Verizon's monthly payment plan for the iPhone 12. My questions are:
1. If I do exchange it, will the down payment of the iPhone 7 Plus be applied towards the 128GB iPhone 12?
2. Will AppleCare+ get transferred to the new iPhone 12?
3. Do I have call Verizon about the the exchange or will the Apple Store do the work?

 

[LFC2020]

Can you even return a iPhone to apple if you got it on contract? 🤔 Can't do that here in Australia, can only be returned if it was purchased as a outright purchase.

 

[Shadowbech]

Can you even return a iPhone to apple if you got it on contract? 🤔 Can't do that here in Australia, can only be returned if it was purchased as a outright purchase.

Yes, depending on which country OP is in. US does have the 13/14 Day return Policy for contract phones as well. Don't like it? Have issues? You can return it and the upgrade is reversed. After 13/14 days then you are locked in.

 

[Shadowbech]

A few days ago I got the iPhone 12 64GB with AppleCare+ at the Apple Store. I already used half of its storage space. I'm thinking of exchanging it for the 128GB one. I used my iPhone 7 Plus as a trade in and it applied as a down payment towards it. Also I'm on Verizon's monthly payment plan for the iPhone 12. My questions are:
1. If I do exchange it, will the down payment of the iPhone 7 Plus be applied towards the 128GB iPhone 12?
2. Will AppleCare+ get transferred to the new iPhone 12?
3. Do I have call Verizon about the the exchange or will the Apple Store do the work?

If you are doing it as a contract and you exchange it, you may need to return it as a refund for the entire device, wait for the upgrade reverse and start over again. Since you did the trade in. I'm not exactly sure what will happen. Likely might get put in the form of apple gift card.

2. No, once you return for a refund, you get refunded for the AppleCare plus on that device and you'll have to get a new AppleCare+ on the new device.