It sounds like what you are referring to is more along the lines of promotional credits to get you to sign up with the carrier for a new phone line / contract, isn't that right?
They are willing to incentivize you to join their service so giving a generous trade-in may accomplish that. It doesn't represent what the real value of the phone is, they are simply using the appearance of a high value for your older phone to get you to commit to them for a period of time.
Nothing wrong with that. If your old phone is just sitting around and you don't have any other use for it, great. But my suggestion is that you make the decision based upon what the resulting phone service cost will be for the period of the contract you'll be agreeing to.
Correct. I’ve been with Verizon 20 years and have no intention of leaving. No illusions on value of old phones, or what Verizon is trying to lock me into.
Based on our plan requirements, I’m getting a silly good deal to be semi “locked” into a provider that I’ve volunteered to give money to for 20 years.
I had originally purchased an unlocked mini outright on my Apple Card. After running the numbers (I’m in corporate finance and confident that my analysis is solid) that retiring the mini, and buying a regular 12 with Verizon, is the best option by far provided that my plan requirements (unlimited) don’t change (unlikely unless we never go back to the office, and even then, the upgrade would be a wash versus apple’s installment plan) in terms of cash flow.
Verizon will still make a ton of money, and be able to count on me being around another 24mos. Which is fine. And I’ll be happy. Win/win unless my assumptions change drastically (unlikely given how long they have remained constant)