Verizon Looks to Edge Out Competition With Six-Month Upgrade Program
Verizon is joining AT&T and T-Mobile in offering a new program that will allow customers to upgrade their phones more frequently than every two years. The plan is called Verizon Edge, and it will launch on August 25.
With Verizon Edge, you pay the full retail price of a phone, along with a month-to-month service plan. The cost of the handset is divided into 24 monthly installments, and the first payment is due at the point of sale. If, after six months, you decide you want to upgrade your phone, you can do so, as long as you’ve paid 50 percent of the unsubsidized price, and the phone is still in working condition. Once you trade in your device, all final payments are waived, you choose another handset of your liking, and start all over again. Verizon Edge is available for basic and feature phones, not just smartphones. Verizon Edge doesn’t include a finance charge, program fee or upgrade fee.