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!