Drawback to the Edge Program? Am I not seeing it?

[AirHej1]

My wife and I have iPhone 5S. We typically aren't the type to upgrade to new phones each time Apple releases one. Our previous phones were the iPhone 4, so typically we upgrade every other generation. The Verizon Edge program is intriguing to me because of the $25 discount offered on the 10GB shared plan. Currently I'm on an old 6GB plan which is the same price as the 10GB plan, so that wouldn't be a price increase for me. If I end up signing up for Edge, it seems that with the discount, it would only be costing us around $2 per phone assuming we get the 16GB models. What is the drawback to this Edge program if we plan to keep the phones for 2 years? Thanks!

 

[BreakingKayfabe]

You're going to be paying extra on your bill because you'll be making payments on the phones. Unless you opt to buy the phones outright.

If you plan on keeping the phone for the 2 years then you're fine because the EDGE program is mostly aimed at users who like to upgrade a lot. Let's say you're a year into having an iPhone 6 and a year from now you decide you want the next gen iPhone. If by then you haven't finished paying off the phone you'd have to give it back to Verizon in order to get the newer phone. It's essentially a lease program.

 

[cwbcpa]

I ran this comparison quite a few times. It works out in your favor if you keep the phone and pay it off. Like Heisenberg mentioned if you decide to get the new phone next year then you just turn in this one as long as you have paid off 75% of it. That's where they get people. If you do that, it's like a lease and you are losing money. Depending on the phone you would be better off paying for the whole phone, keeping it and then selling it when you get your new phone. It's not for everyone but it could work out in your favor.


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[Cujaflow]

Can anyone provide any additional insight on this? At first i thought this was silly, but if i keep my phone for two years or more, it looks like i make out. Does the $25/mo credit fall off after im done paying the phone off? Thanks for any help.

 

[jclif]

Can anyone provide any additional insight on this? At first i thought this was silly, but if i keep my phone for two years or more, it looks like i make out. Does the $25/mo credit fall off after im done paying the phone off? Thanks for any help.

No the discount stays on

 

[Ledsteplin]

With 4 lines on my Verizon More Everything Plan service, if I did the EDGE plan with all 4 lines, it would cost me $40 more per month. So I'm sticking with the 2 yr More Everything Plan.


Sent from my ancient but trustworthy iPhone 5.

 

[zerog46]

The down side is that you don't get to keep your old phone. So you pay it off in two years and have to turn it in. Then you get another one. Typically if you kept the phone you could sell it and get money to put towards your new phone. So you're paying for a phone you won't own if you ever upgrade on the Edge again. If you do it once and then upgrade normally after two years then you can sell the phone.

 

[zerog46]

You can keep it in VZW as long as you don't do another edge upgrade. If you do a regular upgrade your fine.

 

[Cujaflow]

My understanding is you only have to give the phone back if decide to "edge up". If i pay off the 24 months then the phone is mine free and clear. I still see no downside either. Assuming i keep my phone longer than 24 months. Thanks everyone.

 

[zerog46]

My understanding is you only have to give the phone back if decide to "edge up". If i pay off the 24 months then the phone is mine free and clear. I still see no downside either. Assuming i keep my phone longer than 24 months. Thanks everyone.

Yes it good as long as you don't keep upgrading with the edge program.

 

[Septembersrain]

Yes it good as long as you don't keep upgrading with the edge program.

I wonder if it's anything like T-Mobile. If I pay the remaining balance, I can keep the phone. Though I found a weird loophole with JUMP! It allows me to pay off two phones at one time! I did a cyber Monday update to get a discount off the iPhone 6. I was still paying on my iPhone 5s. They let me keep both and pay on them.

 

[mumfoau]

I considered Edge once and had NO idea that if I Edged up after the phone was paid for that I'd have to turn it in! Glad I stayed with the traditional 2-year More Everything contract structure!


Sent from my iPhone 6 Plus using Tapatalk

 

[zerog46]

I wonder if it's anything like T-Mobile. If I pay the remaining balance, I can keep the phone. Though I found a weird loophole with JUMP! It allows me to pay off two phones at one time! I did a cyber Monday update to get a discount off the iPhone 6. I was still paying on my iPhone 5s. They let me keep both and pay on them.

Yes you can pay the phone off early and edge up.

 

[apcman]

I just don't see how the edge program is a good deal. A 64 gig iPhone 6 costs $750 and then 75% is $560. Plus the I phone is worth in a years time around 350-400 roughly so 560 + 375=935. Then if you go with to the 6s then it starts over again. The 50% paid off till upgrade wasn't that bad and actually made sense but this one seems they are collecting extra and a good chunk above the cost of a new handset when all set is done.

 

[Closingracer]

You're going to be paying extra on your bill because you'll be making payments on the phones. Unless you opt to buy the phones outright.

If you plan on keeping the phone for the 2 years then you're fine because the EDGE program is mostly aimed at users who like to upgrade a lot. Let's say you're a year into having an iPhone 6 and a year from now you decide you want the next gen iPhone. If by then you haven't finished paying off the phone you'd have to give it back to Verizon in order to get the newer phone. It's essentially a lease program.

Not exactly true. For my example I'll use the Motorola droid turbo which edge payments are $24.99 and the iPhone 5c which is $18.74 per month for 24 months. Now if you currently have a 6gb plan or higher as of February 20th 2015 the discount on the more everything plans is $25 a month means paying $15 a month for phone access versus $40 if you get a 2 year contract. Now with the Motorola Droid turbo that turns the discount and phone payments means you basically pay $60 dollars of so for the sales tax out of pocket for the device versus $199 for the device on 2 year contract plus activation or upgrade fee which you don't with edge. The iPhone 5c with its payments means your actually saving $7 per month since the phone payments is less the discount which means it's definitely a good idea to do edge of you want an iPhone 5c ( iPhone 5s is $22.18 or something ) or any other device that edge payments is below $25 a month.






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[Closingracer]

At least on the AT&T version of it, you don't have to turn your phone in at two years. It's paid off at that point and you can keep it or sell it. You only have to turn it in if you are doing the early upgrade at like 12 or 18 months.

If you pay off the phone in full you keep the phone since you paid it off 100%. Same with AT&T ,sprint and T-Mobile if you want to upgrade early with Verizon edge at 75% payments or AT&T next program depending on which you chose or paying $10 a month with sprint or T-Mobile you have to return the phone back. I have a Verizon Samsung Galaxy note 4 which full price is $749.99 and early upgrade I'll need to pay off around $550 for the device and of I do it early I'll have to trade my device in but if I pay off $749.99 it's my phone to do whatever I want with it


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[knotsure]

With the Verizon edge program, once you pay off the phone you are free to upgrade again and you keep the phone you paid off. I did this with my iPhone 6 plus and my wife's 6. We were locked in on an old upgrade so I started an edge line and purchased my 6plus. Then I swapped the 6plus to the line I was on a 2 yr contract with (my old school phone number). I paid it off in full last month and upgraded the wife to a IP6 on that same edge line then swapped with her contract phone number. I love my ip6+ and my wife's ip6.

A little side note- on edge you can pay an initial down payment if you like and lower the monthly cost. And you can pay it off early if you want also. But you cannot pay a larger monthly amount than the monthly payment. Just throwing that out there as I was going to pay more on mine a month so I could pay it off earlier but was informed of this.

 

[lgdlman]

If I understand this, I'm better off taking a $200 iPhone 6 and keep my 2 year contract, the Edge at $25/month is full pop, $600. I need to do this now before they eliminate the subsidies.

Posted via the iMore App for Android

 

[twilite2000]

At least on the AT&T version of it, you don't have to turn your phone in at two years. It's paid off at that point and you can keep it or sell it. You only have to turn it in if you are doing the early upgrade at like 12 or 18 months.

This is the same for Verizon. I decided I needed more storage and wanted the iPhone 6 plus 64gb. I was given the option to return the iPhone 6 plus 16gb or pay the balance. I decided I would get more bang for my money and sold it on eBay. I only had that phone 4 months.

 

[Ledsteplin]

If I understand this, I'm better off taking a $200 iPhone 6 and keep my 2 year contract, the Edge at $25/month is full pop, $600. I need to do this now before they eliminate the subsidies.

Posted via the iMore App for Android

The new plans that start later only applies to new customers. If you are an existing customer on the 2 year contract plan, then your grandfathered in. You can continue the same plan you have. In comparison, your not figuring in all the hidden costs of the 2 year contract plan. All you counted was the $200. At the end of the day, the plans come out about the same. I think Verizon figured last year that I would pay $8 more per month with EDGE. Some pay less.