Originally Posted by
bgl321 You should still be able pay it off ($269) and walk away, if you wanted to.
*Not really.* the DPP for the new iPhone 7/7+ will still be $650+ depending on the model. You'll effectively see two things that'll show up on the bill: 1) the $27.08 monthly payments for, let's say, the iPhone 7 32gb model; and 2) the $27.00 credit for the trade in of an iPhone 6 or 6s.
If you retain the iPhone 7 for the duration of the full two years, the credit and the monthly payment will cancel each other out. If you trade-up to the iPhone 8 next year, you'll trade-in the iPhone 7 and lose the monthly credits. If you decide to port out of Verizon Wireless, you'll lose the credits *and* you'll be responsible for the remaining balance on the iPhone 7.
Basically, the promotion is really great for folks that will retain the iPhone 7 for 2 years and is somewhat great even for those that trade-up after 50%