Jul 18 AT 10:33 AM Nick Sarafolean 20 Comments

[UPDATED] Verizon launches Verizon Edge upgrade program

verizon-echo-logo

After Verizon’s CFO confirmed that a Verizon upgrade program was indeed on the way during an investor call this morning, Verizon has officially announced Verizon Edge. We caught wind of this a few days ago, but now we can look at the official details from Verizon. Verizon Edge is an upgrade program that will be available to customers on Share Everything plans and is a way to get faster upgrades. It’s a program designed to compete with T-Mobile JUMP! and AT&T Next! but does so with its own unique twist.

Verizon Edge splits the full retail cost of a device up over 24 months, which is twice as long as the existing device payment plan. Although we’re still awaiting confirmation from Verizon on this, we believe that the existing device payment plan is still around. Either way, Verizon Edge has you choose the phone you want and then sign up for a monthly service plan. When you purchase the phone, the full retail cost is split up over 24 months and you pay the first month then and there. If you want to upgrade after six months, you can just pay off 50% of the full retail price of the phone and start all over again with your new phone. You don’t have to worry about financing charges and two-year contracts, either; Verizon Edge only works for month-to-month plans.

That’s Verizon Edge for you. It seems like it could be a step in the right direction for Verizon, but it’s a bit confusing. We’ll be sure to update this article if we hear anything back from Verizon that helps to clear this up.

In the meantime, what do you guys think of Verizon Edge?

UPDATE: Verizon has just confirmed to us that if you are looking to upgrade your device after you have paid 50% of it off, you will need to trade in that device in “good, working condition” to Verizon to get a new device.

UPDATE 2: We’ve also received word from Verizon that all the existing plans will remain the same, including the device payment plan. If you don’t want to participate in Verizon Edge then you don’t have to and could instead go with a traditional upgrade or use a standard device payment plan.

Show Press Release
Technology changes fast. You purchase a phone or tablet and within a few short months, something new hits the shelves.

If you want to stay on top of the latest technology, the new Verizon Edge device payment plan offers an affordable way to upgrade to the newest device and satisfy your love of technology. Verizon Edge is a flexible equipment payment plan that spreads the retail price of a phone over 24 months. You can also upgrade to a new phone after six months if 50 percent of the retail cost has been paid.

Here’s how it works: Choose the phone you want and sign up for a month-to-month service plan, it’s as easy as that. The full retail price of the phone will be divided over 24 months and you’ll pay the first month at the time of purchase. If you want to upgrade after 6 months, just pay off 50% of the full retail price of the phone and you can choose a new phone and start all over again.

There are no long-term service contracts, finance charges or upgrade fees with Verizon Edge. Every six months, as long as 50 percent of the cost of the phone has been paid, you can upgrade to the newest basic or smartphone available.

Verizon Edge will be available to customers on Share Everything plans starting August 25th

Source: Verizon

A nerd at heart, Nick is an average person who has a passion for all things electronic. When not spending his time writing about the latest gadgets, Nick enjoys reading, dabbling in photography, and experimenting with anything and everything coffee. Should you wish to know more about him, you can follow him on Twitter @Zricon15.

    Most Tweeted This Week

  • Michael

    HAHA the title of this made me think it was something related to EDGE speeds on Verizon.

  • http://www.jaxidian.org/update/ jaxidian

    Yet another way for Verizon to screw you out of more money! I understand that T-Mobile’s Jump program isn’t the best for many people but I can’t see how this is good for anybody, ESPECIALLY since any phone you buy as soon as it launches is already 6+ months old… :-/

  • redraider133

    And can’t use it if you have unlimited data, yay Verizon /s

  • ibap

    So if you’re paying the phone off over 24 months, at 6 months you’ve only paid about 25%. So you have to pay the other 25%, plus start paying for the new phone, and return the phone you’ve paid half for.

    Elsewhere I’ve read that you may be better off paying the ETF, selling your phone if you’ve kept it in good shape with this in mind, and starting over.

    • clocinnorcal

      That is correct. With this upgrade program one would be effectively paying for their device twice. Total rip off by Verizon.

      • Nda

        No you are not , what you pay for is 50% of the phone then you are able to trade it back in for a new phone and you are NOT responsible for the other 50% of the phone . You pay the upgrade price on the phone .

  • Stevenraustin

    Verizon continues its hostile trend towards its most loyal customers. Unlimited data. I pay $60 a month for unlimited data and tethering X6 devices. I have also been paying full retail for my devices for a couple years now, and I guess I will continue to do so. Would have been nice to be able to “finance” a Verizon device through Verizon but oh well. Sprint and TMO are looking like better options all the time. I have LTE available from both where I live and at least they are not Hostile towards their customers like Fran Scammo. .

    • http://www.androidandme.com Nick Sarafolean

      You can still use a normal device payment plan to finance a device at full retail cost while keeping unlimited data.

    • Jeremy Sheehan

      And it’s probably people like you that probably made Verizon kill the unlimited plan. What is your monthly data usage tethering 6 devices?

      • http://ArtisticAbode.com BetterWithRoot

        If he is paying for the tethering, I don’t think it matters.

        • Jeremy Sheehan

          At $60/month he isn’t paying for tethering. I can tell you that.

      • clocinnorcal

        You mean people that use the “unlimited” data that they are promised? What difference does it make how he uses it? It was inevitable that these large telecom companies would find a way to gouge customers somehow with the disappearing minute use.

  • http://www.infotainmentempire.com pekosROB

    Is it just me or does it sound like Verizon is looking for another way to lock in those of us grandfathered in to unlimited data to a contract since we don’t want to go with the current subsidized model? Correct me if I’m wrong but if you split up the full retail cost you still have to pay something if you decide to leave Verizon before paying off the phone, right? 

  • http://ArtisticAbode.com BetterWithRoot

    I am hoping this will be a good thing for people (like me) who are on the Gfathered plans of unlimited data. I am hoping they allow us to keep our data and purchase our phones outright…but on a payment plan. Yeah, you have to pay a couple dollars each month for service fees or what not…but i take that as paying interest on a loan. I am curious if you have to turn your older phone in if you want to upgrade and they pay you the ‘value’ of it, or if you get to keep your phone, but are still required to pay the rest of the balance off.

    I would like to see if this plan benefits me as i am already paying full price for my phones…maybe i could pay it off over 6 months (50$ a paycheck) as opposed to a large chunk out of my savings….but it’s all contingent on keeping my data plan.

  • JQuest81

    This plan is almost as bad as the AT&T one. Sure you can upgrade at a quicker rate, but unless they give you a discount on the rate plan, you’re getting hosed as you’re still paying as if you’re subsidizing a phone… The benefit is at least it’s a no-contract program.

  • donger
  • Nda

    I still fail to see how this is a rip off ?

    For people like me i love to get the latest and greatest models of phones as soon as i can .

    with this plan i
    1) get a new phone every 6 months to a year
    2) i get 6 gigs of data ( never even came close to 3gigs )
    3) no contract
    4) only have to pay the upgraded price on the phone not full retail price
    5) when phone is turned in you do not have to pay off the remaining balance of the phone .

    Where is the ” rip off ” ?

    I not trying to sound like a douche i really want to know .

    • calewds

      The rip-off with this is that they still charge you the same subsidized prices so you get no discount on your monthly bill. You’re paying the same amount as before in addition to making the installment payments on the phone. But I suppose that’s the premium you have to pay if you want to upgrade on a 6 month or yearly basis instead of being locked in for 2 years.

  1. MichaelGuest 2 years ago

    HAHA the title of this made me think it was something related to EDGE speeds on Verizon.

  2. Yet another way for Verizon to screw you out of more money! I understand that T-Mobile’s Jump program isn’t the best for many people but I can’t see how this is good for anybody, ESPECIALLY since any phone you buy as soon as it launches is already 6+ months old… :-/

  3. And can’t use it if you have unlimited data, yay Verizon /s

  4. So if you’re paying the phone off over 24 months, at 6 months you’ve only paid about 25%. So you have to pay the other 25%, plus start paying for the new phone, and return the phone you’ve paid half for.

    Elsewhere I’ve read that you may be better off paying the ETF, selling your phone if you’ve kept it in good shape with this in mind, and starting over.

    • That is correct. With this upgrade program one would be effectively paying for their device twice. Total rip off by Verizon.

      • NdaGuest 2 years ago

        No you are not , what you pay for is 50% of the phone then you are able to trade it back in for a new phone and you are NOT responsible for the other 50% of the phone . You pay the upgrade price on the phone .

  5. StevenraustinGuest 2 years ago

    Verizon continues its hostile trend towards its most loyal customers. Unlimited data. I pay $60 a month for unlimited data and tethering X6 devices. I have also been paying full retail for my devices for a couple years now, and I guess I will continue to do so. Would have been nice to be able to “finance” a Verizon device through Verizon but oh well. Sprint and TMO are looking like better options all the time. I have LTE available from both where I live and at least they are not Hostile towards their customers like Fran Scammo. .

  6. Is it just me or does it sound like Verizon is looking for another way to lock in those of us grandfathered in to unlimited data to a contract since we don’t want to go with the current subsidized model? Correct me if I’m wrong but if you split up the full retail cost you still have to pay something if you decide to leave Verizon before paying off the phone, right? 

  7. I am hoping this will be a good thing for people (like me) who are on the Gfathered plans of unlimited data. I am hoping they allow us to keep our data and purchase our phones outright…but on a payment plan. Yeah, you have to pay a couple dollars each month for service fees or what not…but i take that as paying interest on a loan. I am curious if you have to turn your older phone in if you want to upgrade and they pay you the ‘value’ of it, or if you get to keep your phone, but are still required to pay the rest of the balance off.

    I would like to see if this plan benefits me as i am already paying full price for my phones…maybe i could pay it off over 6 months (50$ a paycheck) as opposed to a large chunk out of my savings….but it’s all contingent on keeping my data plan.

  8. This plan is almost as bad as the AT&T one. Sure you can upgrade at a quicker rate, but unless they give you a discount on the rate plan, you’re getting hosed as you’re still paying as if you’re subsidizing a phone… The benefit is at least it’s a no-contract program.

  9. NdaGuest 2 years ago

    I still fail to see how this is a rip off ?

    For people like me i love to get the latest and greatest models of phones as soon as i can .

    with this plan i
    1) get a new phone every 6 months to a year
    2) i get 6 gigs of data ( never even came close to 3gigs )
    3) no contract
    4) only have to pay the upgraded price on the phone not full retail price
    5) when phone is turned in you do not have to pay off the remaining balance of the phone .

    Where is the ” rip off ” ?

    I not trying to sound like a douche i really want to know .

    • calewdsGuest 1 year ago

      The rip-off with this is that they still charge you the same subsidized prices so you get no discount on your monthly bill. You’re paying the same amount as before in addition to making the installment payments on the phone. But I suppose that’s the premium you have to pay if you want to upgrade on a 6 month or yearly basis instead of being locked in for 2 years.