So basically it's smarter to just keep my old phone and sell it... or to pay off the 7 and sell it next year? What would be better?
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Carrier Verizon offering iPhone 7 for $0 with trade-in
- Thread starter Geckotek
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So basically it's smarter to just keep my old phone and sell it... or to pay off the 7 and sell it next year? What would be better?
It's up to you. If you sell your phone on your own you own the 7 if you buy it outright and you're free to upgrade whenever.
You can upgrade when half of it is paid off so basically every year I thought; isn't that when the credits would stop then? And you wouldn't have to pay the rest off cause you're doing the annual upgrade (after trade in of course, that's their annual upgrade program if I understand correctly)
I don't know what to do. I feel like I'm getting ripped off. I don't even think I'll get the full $650 because the phone I'm trading in has a tiny chip in the front glass from dropping it in some rocks. Then on top of that, I'll have to pay roughly $384 to buy the rest of the phone instead of just being able to upgrade for free at 50%. I guess I'll be able to resell the 7 for more than $400 next year [doublepost=1473447269][/doublepost]
This is how I was hoping it would work, but now I'm being told otherwise
I don't know what to believe!That goes along with what the rep I spoke with told me. The new phone will be assigned a dummy number and then I can bring it into the store, they'll port my number over to the new phone and execute the trade in at that time so I don't have any interruptions in my cell service.
In only have minor scuffs on the casing and a few tiny scratches or chips along the edges of the glass. So small that you have to look extremely close and in the light to see them. Would this be beyond "good condition"? I upgrade every other year so this is a good deal for me.
So can I sign up for this trade in promo after preorder even though I didn't select it during my preorder.
Also dealing with the annual upgrade. Someone said you'd have to pay off the remaining balance. But I thought after one year, you'd trade in the the old iPhone and pretty much start a new 24 month payment plan????
Also dealing with the annual upgrade. Someone said you'd have to pay off the remaining balance. But I thought after one year, you'd trade in the the old iPhone and pretty much start a new 24 month payment plan????
Had a long chat with a Verizon rep to get clarifications. This is the third one I've talked to in 12 hours, but I think these answers are the most definitive and line up with the small amount of fine print on the promotion.
1) You must sign up for the 24 month device payment plan, you cannot pay for the device in full (even though the checkout process let me do this on one of my upgrades, and the first two reps I talked to said it was fine).
2) You must have the iPhone 7 active on the line for the full 24 months to receive all of the credits.
3) You cannot pay the iPhone 7 off early. Doing so will terminate the device payment plan agreement, and that agreement being active is contingent on your receiving credits. If you do, you will forfeit any credits you would receive in the future. So, even if you want to upgrade to a new phone next year, and decide to pay off the device in full to do so, you will not receive your credits.
4) Obviously, as others have stated, if you choose to upgrade without paying off the device you will not receive credits after upgrading either.
5) The credits will start on your third billing cycle for your device payments. EDIT: incorrect info on the credit payout. You will receive credits for months 1-3 for your first credit. So, after 12 months you will receive $325 of your $650 of credits.
1) You must sign up for the 24 month device payment plan, you cannot pay for the device in full (even though the checkout process let me do this on one of my upgrades, and the first two reps I talked to said it was fine).
2) You must have the iPhone 7 active on the line for the full 24 months to receive all of the credits.
3) You cannot pay the iPhone 7 off early. Doing so will terminate the device payment plan agreement, and that agreement being active is contingent on your receiving credits. If you do, you will forfeit any credits you would receive in the future. So, even if you want to upgrade to a new phone next year, and decide to pay off the device in full to do so, you will not receive your credits.
4) Obviously, as others have stated, if you choose to upgrade without paying off the device you will not receive credits after upgrading either.
5) The credits will start on your third billing cycle for your device payments. EDIT: incorrect info on the credit payout. You will receive credits for months 1-3 for your first credit. So, after 12 months you will receive $325 of your $650 of credits.
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You'll receive 12 months of credits in the first 12 months. Credits for months 1-3 will all be bundled into month 3.
So based on that, if you plan on upgrading the phone after 1 year. Then isn't worth doing the $650 promo because you won't use it all. I guess Ill just sell my phone on CL or eBay
Ok thanks, that's good to know. I think she said something about the "good news" on the first credit and that may have been what she meant. I'll update my post.
So I do have the option of paying off the device whenever I want though? Just wouldn't receive the credits obviously. So after a year for a 128gb plus I would pay half of the full price (which would be $435) since the other half was already paid, to upgrade to a new one.
Yes the terms in the device payment plan agreement state that you cannot pay ahead in chunks, but you can pay off the remaining balance in full if you want. Also, you should have been marked as eligible for Verizon's upgrade program during checkout, so you could use that as an option too.
Not quite. The credits stop so essentially, you would have only received $325 for your iPhone 6/6+/6s/6s+ trade-in. You give Verizon back your iPhone 7/7+ and then you start paying the full monthly installment for the 2017 iPhone ($27+ per month). There's no need to pay off the remaining balance since you're already returning the iPhone 7/7+ to Verizon.
I hope you're right! This is what I got when I asked Verizon. You can only trade in early if you have an early upgrade offer it looks like.
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Yes.
But don't you get a upgraded after 12 months with the 24 month device payment plan?? Its she referring to if they came out with an iPhone 7S after like 6 months, that you'd need an early upgrade for that?
They consider anything other than a 24 month upgrade an early upgrade. So even if you do the annual upgrade, they consider it an early upgrade. But if you're on the DPP, as long as you've paid off 50% of your phone and trade it in, you can upgrade yearly.
The best way to know would be to log in and find out if the option is there. If they give you the option, safe to assume it's available. You wouldn't have to go through the whole process. After you choose the phone, and before you confirm everything, it will ask you if you want to trade in.
Talked to 2 different reps today and got the same answers from both.
- Ordered a 128GB iPhone 7. It will arrive on 9/23.
- When the iPhone 7 gets here, I'll go to: https://www.verizonwireless.com/device-recycle/
- There, I'll initiate the return of my 16GB iPhone 6 for $650
- This will cover all but $4 of the DPP on my bill.