Earlier this week, Verizon announced their new Edge Program which allows you to trade in your phone every six months or sooner (more on this later). This isn’t the most cost effective way to buy a mobile phone and some may be better off just buying a phone outright or committing to a standard contract but I figured I should have a look and see if the Verizon Edge is a Good Deal. Other similar plans are T-Mobile’s Jump and AT&T’s Next program too.
How Verizon Edge Program Works
With the Verizon Edge program, it’s open to all users that are on a share everything plan (I find it funny that it’s still a share everything plan even if you are the only subscriber on the plan) and have an upgrade available or for new customers. Depending on your length of contract and the start date the wait to be eligible for Verizon’s Edge program could be as long as 24 months, but for most of us we’re probably due for an upgrade soon or have one available already.
With the Verizon Edge program there’s no contract, no financing fees and no down payment (that’s not entirely true) more on this later.
Once you’re eligible you pick a phone and the payments are broken down over 24 months. There’s no contract but you are committed to the 24 month payment term unless you pay off the phone early, but if you were to do that you might as well forgo the Edge program and just pay full price for the phone. This program is aimed at two things:
- You have the option for a new phone after six months.
- You’re out the door with a new phone for less than it would cost for the same phone on contract. This does not apply to phones that are free because you really can’t beat free phones.
Verizon Edge Prices for Current Top Tier Phones
Motorola Droid Maxx: $27.15
Motorola Droid Ultra: $25.22
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