Verizon

Still no break in monthly service charges for buying a device off-contract

Newly leaked Verizon training documents indicate that the carrier is planning to release a new device purchasing plan called "VZ Edge". Building on the previously announced "Verizon Wireless Device Payment Plan" that lets customers buy a device off-contract with a year of monthly payments, VZ Edge will give customers an option to buy yet another device after paying off half of their current payments on a device. Presumably to fall in line with T-Mobile's new JUMP! upgrade plan, VZ Edge would offer customers "upgrades" every 6 months.

The waters are still murky on this one, however.

The current Device Payment Plan splits up the full off-contract price of a phone to 12 equal payments, with an additional $2.50 per month in financing charges. What isn't revealed by this current leak is how the devices will be handled when moving on to a new device mid-way through a payment plan on VZ Edge. Will the device be returned to Verizon for a credit? Will future payments be forgiven or tacked on-top of new payments from the next device?

Whatever way Verizon plans on laying out the payments of new devices, there is still no indication that the carrier will cut your monthly bill for not accepting a subsidy on your device. It's great to see more options emerging for buying devices off-contract, but Verizon's really double dipping (into your wallet) charging full price for a device and again for a subsidy that you're not taking advantage of.

Hit the break to see the promotional materials, which indicate that VZ Edge is ready for launch at the end of Q3.

VZ Edge leak

Source: Droid-Life

 

Reader comments

Verizon plans to unveil 'VZ Edge' upgrade plan as a new way to buy devices

39 Comments

Just to let everyone know, this type of promotion only works on CDMA carriers.
If you're on a CDMA carrier take the subsidy. That phone only works on their network.

Posted via my themed "WHITE DRAGON" LiquidSmooth Sprint GSIII.

It's "newly leaked" so yeah... Details are going to be missing until the announcement. It's kind of like a faucet. You can have it leaking here and there until they turn the handle and flood your mind with all the details.

Don't double dip the chip....I mean seriously how much more are you going to pay just because yo need the latest and so called greatest. T mobile the jump plan to get into it is 10.00 a month plus the payment on the phone. Now this stupid plan. Well like they say a sucker is born every min.

People who already pay for insurance maybe be OK with JUMP. Even with max payment of $20 and $10 for JUMP is cheaper then being on a Verizon contract. JUMP is an option to upgrade, no need to upgrade twice a year

Posted via Android Central App

Where are all the T-Mo haters and their fancy maths? How much to get a new phone every 12 months on Verizon and have the pleasure of paying a premium for service? Oh, and don't forget to add in your cost for insurance.

Posted via Android Central App

I don't have the utmost confidence that Verizon wants to do us any favors. Sounds like more smoke and mirrors to me.

Posted via Android Central App

Am I the only person that thinks this is absolutely ridiculous?

How in the world can this be a good thing? Verizon is going to charge people full retail price and allow them to pay it off monthly presumably with a finance fee. Ummm no interest credit card anyone? I've been buying my phones full retail for a while now so I don't lose my unlimited data and just been putting them on a no interest credit card without worrying about any stupid finance fee. And I can buy my next one whenever I want without having to wait until half of it is paid off.

I guess there are a lot of idiots in this world and Verizon's business strategy appears to be aiming at those people.

So honestly.. What's the benefit here? Verizon will let you buy a phone at full retail and let you finance it. Wow. What a great deal. Just a bunch of smoke and mirrors. Sad sad sad.

It's $30.00 for the full 12 months to finance it. Not everyone wants to open a new credit card to get the 0% for the first 12 months every time they want a new phone in 6 months.

I waited till tax time to get my phone. I'll do the same with my next or save up the money to get it if I want it bad enough. Verizon really needs to adjust there charges for those of us who buy off contract.

Or you could just buy the phone off contract and switch to a prepaid carrier. Simpler and less costly.

Am I the only one not taking crazy pills? You are BUYING A DEVICE AT FULL RETAIL. You are NOT getting the built-in subsidy cost taken off your monthly bill. Guess what? You can buy a phone at full retail any time you want, contract or otherwise. All the previous program did was allow you to spread the payments out over 12 months (plus almost $40 in "fees", so not even "no interest"). All this program does is allow you do that again 6 months earlier. WAKE UP PEOPLE.

Smart move, just in time for the Note 3, HTC One Max, and iPhone 5s

Posted via Android Central App

I agree. Verizon will charge you full price for a phone but not changing the monthly rate is insulting. At least t-mobile changes the monthly rate so you don't feel like you're being ripped off. even though in the end you still are paying the same.

Doesn't matter. If I switch, tmobile will be my first company I go to. I would go to att before I go to Verizon due to all the junk Verizon pulls on their customers. At least att is up front most of the time. Either way my next company if Sprint doesn't pull it off will be solevai and then tmobile.

Via Android Central App from a Galaxy Note 2

However Verizon plans on doing this, the consumer is gonna totally get screwed, that is the Verizon way. There is no way Verizon will let themselves break even or make a small profit, they will somehow get a huge profit.

My problem with this is sheer numbers. A $600 device broken into a 12 month payment scheme is an extra $50 per month, plus an additional $2.50. I'm not rich so a plan that would represent a 50% increase in my phone bill is out of the question. It may sound more attractive if broken up into a 24 month period... You know, the length of the contract.

It would be nice to see a kind-of in between on these types of plans. They could reduce (NOT TOTALLY ELIMINATE) the subsidy on these types of plans. For example. Instead of reducing a $600 device to $200 On contract, reduce it to $400, with a $100 down payment on a 2 year contract and divide the payments into a 24 month payment plan (plus whatever fee they'll add). This is beneficial for both the carrier and the consumer. It benefits the consumer because the customer only pay $100 up front, and it will add only $12.50 (plus financing fee) to their monthly bill. THAT, I can swallow and live with. (I know, I know... That's what SHE said.) Its beneficial to the carrier because they are not having to subsidize as much AND there is still an incentive for the customer to sign a 2 year agreement.

They will probably open up the unlimited talk, text, and 2GB data for $60 to people who buy phones full retail.

Posted via Android Central App

What I want to be able to do is to rent a device for about a month from Verizon, so when I go visit my mom who lives in BFE, where Verizon is the only carrier that works there, I can still get phone calls.

They're gonna do anything they can to entice customers to buy Off Contract. They make more money that way.

Posted via Android Central App

Speaking of "off contract" , for those of you who buy your phones at full retail/off contract, where do you prefer to purchase them? Any benefit in getting your full retail device directly from VZW?

I'm going to be going from the S3 to the Note3 when its out, and will be doing so at full retail to retain my unlimited data. Assuming the note3 uses the same sim card, I should be able to just purchase a note3 and pop the sim from my S3 into the new device, correct?

Just trying to avoid as much hassle as possible. I would rather just order one online at full retail, and be able to do all the activation without having to go to VZW.:)

Thanks!

Unfortunately, for those of us that still have the unlimited data plan we have few options when it comes to new phones. Verizon knows this. I hoping for the Nexus 4, or an equivalent to come out.

At least these companies are realizing that customers are tired of being jerked around and penalized just for wanting a new phone mid-contract. This is hopefully a start of some savings. Because the big 4 are going to lose a lot of customers to prepaid if they don't stem the bleeding.

Posted from my Verizon Galaxy S III via Android Central App