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Carrier Verizon offering iPhone 7 for $0 with trade-in

This is how I understand it!

You buy an iPhone on the installment plan. lets say the iPhone 7 128GB, the installment is $31, but if you trade in your phone, lets say the iPhone 6s plus, you will receive a credit for 2 years on your bill. so instead of paying $31 a month, you will only pay $10 because you will receive $650 credit split over 24 months! And you would only be responsable to pay taxes upfront, so about $50 or so. Am I right?

BTW the Verizon website says "$649.99 on device payment required!" which is the minimum requirement. you DO NOT have to pay 649.99 upfront!
 
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C DM said:
That wouldn't really make it DPP at all. The available information so far don't seem to lay out all the details and how it will work all that well. Hopefully more will come to light about it to explain it better.
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Hm. Help me understand. DPP is the monthly payment. Am I misunderstanding the disclaimer that says "$649 Device Payment Required" is DPP?
 
AWDV8TT said:
Hm. Help me understand. DPP is the monthly payment. Am I misunderstanding the disclaimer that says "$649 Device Payment Required" is DPP?
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"Device payment" = their monthly payment plan.

Look at the pic in the OP.
 
I am a bit confused...why would I not just get the phone on a 2 year contract, sell my previous phone to break even and not have any monthly payments....am I missing something here?
 
So since this is going to be purchased on DPP (assuming), does the mean I technically don't have to sign a new contract (I'm not trying to leave Verizon or anything)? I'm contract is ending soon anyways.
 
Says this in fine print: "Good towards the purchase of iPhone 7 32GB and iPhone 7 Plus 32GB"
Does this mean I can't get s 128GB 7 Plus with it?
 
You would just get a $650 credit. If the phone was $750 you cover the overage.
 
Texxy said:
I am a bit confused...why would I not just get the phone on a 2 year contract, sell my previous phone to break even and not have any monthly payments....am I missing something here?
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My take is that when you do the 2-year contract you are still paying the old $40/month line access fee.

But if this trade-in is on DPP, you can simply do the trade-in and also switch to the $20/month line access fee. Unless I'm looking at this wrong, I'm saving $20/month as comparing to the previous plan.
 
aajeevlin said:
My take is that when you do the 2-year contract you are still paying the old $40/month line access fee.

But if this trade-in is on DPP, you can simply do the trade-in and also switch to the $20/month line access fee. Unless I'm looking at this wrong, I'm saving $20/month as comparing to the previous plan.
Click to expand...
Wow well that would definitely be a plus. So it is $20 device access fee for DPP? Also do you just get billed the amount of the phone to your bill?
 
Texxy said:
I am a bit confused...why would I not just get the phone on a 2 year contract, sell my previous phone to break even and not have any monthly payments....am I missing something here?
Click to expand...

That depends on if you want to stay with your old plan, or switch to their new style of plans.

I switched today and we're saving money plus getting more data. Previously our old plan was giving us just 2 GB per line, for $200/month for 4 lines. Now we're getting 16 GB shared, and monthly carryover, for about $160.
[doublepost=1473395372][/doublepost]
JerTheGeek said:
Says this in fine print: "Good towards the purchase of iPhone 7 32GB and iPhone 7 Plus 32GB"
Does this mean I can't get s 128GB 7 Plus with it?
Click to expand...

I feel like people are not looking at the chart in the very first post...
 

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After the 2 years are up, am I free to sell the phone or do anything I want with it?
 
DDustiNN said:
That depends on if you want to stay with your old plan, or switch to their new style of plans.

I switched today and we're saving money plus getting more data. Previously our old plan was giving us just 2 GB per line, for $200/month for 4 lines. Now we're getting 16 GB shared, and monthly carryover, for about $160.
[doublepost=1473395372][/doublepost]

I feel like people are not looking at the chart in the very first post...
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Alright what if you have phones on your line that are still in contract though/not doing DPP
 
^ Guilty.....I clicked on it and it was blurry. I had to click on the upper right to open in a new window to read it. The more you know...heh.
 
idyll said:
After the 2 years are up, am I free to sell the phone or do anything I want with it?
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Yes it's yours after it's paid off. You can pay it off early and still receive credits for up to 24 months as long as that line is active.
 
What happens if I want to upgrade to the new iPhone next year? Can I pay off the reaming balance / 50% and be able to upgrade?
 
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Texxy said:
I am a bit confused...why would I not just get the phone on a 2 year contract, sell my previous phone to break even and not have any monthly payments....am I missing something here?
Click to expand...
Depends on your plan. In recent/current plans you'd be paying a higher monthly line access fee, so you'd be paying for the phone that way. On older plans you would be paying that higher monthly price anyway as it's part of the plan, so contracts are better for those.

idyll said:
After the 2 years are up, am I free to sell the phone or do anything I want with it?
Click to expand...
After 2 years or whenever you pay off the device if you want to do it earlier. But the device is yours from the beginning really, you just have a loan associated with it that you need to pay off.
 
Texxy said:
Alright what if you have phones on your line that are still in contract though/not doing DPP
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My understand is that whatever line(s) that is still under the 2-year contract will have to continue to pay the $40/month, even IF you switched the whole family to the new plan. Only the ones that are out of contract can enjoy the new $20/month. I'm pretty sure about this one, since I called Verizon twice about this already. So for example if you have four lines and two are in contract and two are out of contract, and you switched to the new plan, then you are looking at ($20+$20+$40+$40) line access fee until the other two lines are also out of contract, after which you will get $20*4.
 
idyll said:
What happens if I want to upgrade to the new iPhone next year? Can I pay off the reaming balance / 50% and be able to upgrade?
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You should be able to as that is how DPP works.
[doublepost=1473395900][/doublepost]
aajeevlin said:
My understand is that whatever line(s) that is still under the 2-year contract will have to continue to pay the $40/month, even IF you switched the whole family to the new plan. Only the ones that are our of contract can enjoy the new $20/month. I'm pretty sure about this one, since I called Verizon twice about this already. So for example if you have four lines and 2 are in contract and 2 are out of contract, and you switched to the new plan, then you are looking at ($20+$20+$40+$40) line access fee until the other two lines are also out of contract, after which you will get $20*4.
Click to expand...
That would be correct.
 
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Texxy said:
Alright what if you have phones on your line that are still in contract though/not doing DPP
Click to expand...

I actually do. Two of our lines are still under contract until November. For those two lines, the monthly line access is $40 each. In November, they automatically drop down to $20 each, like the other two lines which are currently out of contract (formerly known as "eligible for upgrade").

So we're paying $197 for 2 months, then it will drop to $157.
 
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