Verizon Edge and iPhone 5S

[zachpenguin]

Since the Verizon Edge program is new, I'm sure there are many questions about it. I see it as an option to get a new iPhone every year and not having to pay the hundreds upfront or the hundreds more to buy it outright. My question though, does anybody know I we will be able to get the 5S on launch day or shortly after? I don't have to have the phone on launch day, but Verizon's website also doesn't show any pricing for the device, at least not where I could find.

 

[John Yester]

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Pricing will be just as Apple mentioned.

199, 299, 399

 

[rosser]

You should be able to do it on launch day, I don't see why not


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[wolfedude88]

You have to be eligible for an upgrade to start the program though.

 

[zachpenguin]

Eligibility isn't a problem. Been holding my upgrade since January.

 

[neurodave]

Verizon EDGE (and all the other "finance" options for phones on other carriers) is NOT for everybody.

It sounds good when you hear it very quickly on a commercial or by word of mouth, but you have to sit down and do some math to truly understand what it entails.

A few tidbits that most don't notice or can be a common misconception are:

1. You do NOT own the phone.

If you get any device on EDGE, the device is never truly yours, until it's paid off in full. And when you want to upgrade, you have to give the phone back.

2. You have to pay monthly an additional charge on TOP of your bill.

If you are on a single line account, this will be more noticeable. Your bill will go from (what I see on average for a single user) $115 to about $145, or more. Don't forget, you are paying, in essence, a fee to "finance" the device.

3. You can't upgrade as often as it seems.

You have to reach a certain amount of time, or amount that has been paid off towards the cost of the phone, before you can upgrade. A lot of people think that in 6 months they can get a new phone...it's not that easy.

4. It is actually rather expensive.

When you crunch some numbers, you are essentially paying more to Verizon than you would on a contract. Not only that, you end up paying (in the long run) almost DOUBLE the cost of that device.

5. Not all of us need a new phone every 6-12 months.

Lets face it, many of us don't NEED a new phone every few months, we just WANT it. Weigh out your options and budget and see what works best for you. Don't let the tantalizing tag "upgrade when you want" fool you.


Good luck!

 

[zrxoa1]

They do not charge a finance fee. The cost of the phone is broken into 24 payments that you pay on top of your normal bill.

After the FIRST six months, if you have paid at least 50% of the cost of the phone, you can trade it in on a new phone. Then as soon as you have paid at least 50% of that phone you can do it again. You can pay extra to get to the 50% mark so you can trade.


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[Peligro911]

That's how I got my 5s and it's how I'm going to get my 6 when it comes out

 

[pr1nce]

If you have multiple lines it can get kind of expensive.

 

[Peligro911]

If you have multiple lines it can get kind of expensive.

Ya I wouldn't do it to more than one line

 

[zachpenguin]

That's how I got my 5s and it's how I'm going to get my 6 when it comes out

That's exactly what I plan on doing. I got the 5s using this and this time next year I'll be eligible to trade in and get the 6. I'm the only one on my family plan that doesn't hold a phone for 2 years so it actually works just doing it on my line.

 

[Peligro911]

That's exactly what I plan on doing. I got the 5s using this and this time next year I'll be eligible to trade in and get the 6. I'm the only one on my family plan that doesn't hold a phone for 2 years so it actually works just doing it on my line.

Same here lol

 

[Gary Rhine]

You have to reach a certain amount of time, or amount that has been paid off towards the cost of the phone, before you can upgrade.

The way I see it that should read -

You have to reach a certain amount of time, and amount that has been paid off towards the cost of the phone, before you can upgrade.

time = 6 months
amount = one half

Regular monthly payments leave you only 1/4 paid after 6 months so you have to make up the difference if you want to upgrade at that time.

To me there are only 2 ways the Edge program makes sense -

1. You want a new phone every year
2. You have an uninsured lost, defective or stolen phone that is under contract.

 

[Joelist]

Actually things are different now.

Verizon is discounting the data plan if you use Edge - $10/month if you have less than 8gb/month and $20/month if you have more. Also the time window for upgrading is 30 days from start and you need to have paid off 50% of the price.

So for a 5S that is half of $649 so $325. At the $27.15/month for the 5S on Edge you would hit that in roughly 14 months if you do not put anything down up front.

 

[saichick04]

That's exactly what I plan on doing. I got the 5s using this and this time next year I'll be eligible to trade in and get the 6. I'm the only one on my family plan that doesn't hold a phone for 2 years so it actually works just doing it on my line.

Same for me. I don't sale my phones very often. I usually trade with someone on Craigslist or trade it in the store towards another phone. I actually did the Edge promo Verizon has going for existing customers this week. I'm in my own plan. It is a little more expensive but I think it's good for me. The kind of person who has a different phone every few months lol. But I don't think it's for everyone or plans with more than 1 or 2 lines.


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[Gary Rhine]

Same for me. I don't sale my phones very often. I usually trade with someone on Craigslist or trade it in the store towards another phone. I actually did the Edge promo Verizon has going for existing customers this week. I'm in my own plan. It is a little more expensive but I think it's good for me. The kind of person who has a different phone every few months lol. But I don't think it's for everyone or plans with more than 1 or 2 lines.


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You are not trading it to Verizon either. You are giving it to them.

 

[saichick04]

You are not trading it to Verizon either. You are giving it to them.

That's one way to look at it. Maybe I'm just a generous person?


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[Gary Rhine]

That's one way to look at it. Maybe I'm just a generous person? ��


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Well do not think Verizon investors don't appreciate it!