Carrier Is Verizon Installment program basically the same as Apple Upgrade Program minus the Applecare?

[arctyler]

Both programs are technically for 24 months in order to keep the phone, both programs allow you to upgrade your phone after 12 months to something newer. With apple your locked into the newest iPhone, with Verizon your locked into their network. However, with Verizon, you don't have to pay for apple care like you do Apple Upgrade Program, so you get slightly lower payments and also get to choose your phone manufacturer. I was considering pre-ordering my new iPhone 7 Plus through Verizon as I can put money down to have a lower payment, and I'll still have my apple 1 year warranty, but I usually don't drop my phones or destroy them anyways.