The Verizon Edge program

[Rxpert83]

Huh? How is renewing a $600 debt different from spending the very same $600 up front?

Now that they offer the discount for both Edge and off-contract customers, the only difference between it and buying outright is the option to spread the purchase price out over up to 24 months with zero interest or finance charges.

As long as you are on the 10GB plan, I still have yet to be shown a downside.

I don't know how else to put it.

Basically the equivalent of an ETF versus none if you leave

Its not the total dollar amount I'm talking about. We agree that's the same.

I'm talking about the remaining balance being prohibitive to those who are signing up because its being pitched as cost saving.

 

[hilmar2k]

I don't know how else to put it.

Basically the equivalent of an ETF versus none if you leave

Its not the total dollar amount I'm talking about.

The total dollar amount is exactly the same. Buying the phone outright is paying the ETF upfront.

I don't understand how there is a difference between paying $600 upfront and $600 spread out over up to 24 months. Exactly the same out of pocket cost.

 

[Rxpert83]

The total dollar amount is exactly the same. Buying the phone outright is paying the ETF upfront.

I don't understand how there is a difference between paying $600 upfront and $600 spread out over up to 24 months. Exactly the same out of pocket cost.

We are in agreement that the out of pocket costs are the same

 

[hilmar2k]

We are in agreement that the out of pocket costs are the same

Then we should be in agreement that there's no downside to Edge.

 

[sinclac]

No, 30 days.

You are correct 30 days.

 

[timelord65]

If your on edge, your still free to leave anytime. There is no "contract" on edge, so no etf. I just edged with htc m8. if I want to switch carriers next week, I simply pay off the phone. Then I'm free to go. I can then sell htc m8 and use that money to buy next phone with a new carrier.

Your buying the phone on edge, but paying for it over time. So your not in debt to Verizon for anything accept for what you owe. Buying full retail, your still in debt but to your credit card.

Edge isn't a great deal or anything as such. Its just great for those who like to upgrade often. It just eliminates having to take the time and effort, and risk of having to sell your old phone on eBay, swappa or craigslist before buying your next full retail phone.

 

[Rxpert83]

If your on edge, your still free to leave anytime. There is no "contract" on edge, so no etf. If I want to switch carriers next week, I simply pay off the phone.

Your buying the phone on edge, but paying for it over time. So your not in debt to Verizon for anything accept for what you owe. Buying full retail, your still in debt but to your credit card.

Edge isn't a great deal or anything as such. Its just great for those who like to upgrade often. It just eliminates having to take the time and effort, and risk of having to sell your old phone on eBay, swappa or craigslist before buying your next full retail phone.

My point was there's not really a difference between the ETF (which for most carriers declines with the amount of time remaining on the contract and is there to recoup costs of the subsidized phone) and paying off the rest of the phone (which the remaining amount will also decline til 2 years is reached - that's not an insignificant coincidence)

Both can serve as a deterrent to leaving.

This thread was started as a pro/con to the EDGE program. I'm only saying (and not very clearly ) people should be aware of the remaining balance, nothing more.

 

[Simple_fear85]

Thanks everyone for the pros and cons but i am still confused about one thing. I was told if i didnt want to upgrade i could continue paying off the phone. What happens after the two years and its paid off and i wanna get a new phone do i gotta give that back?

 

[sinclac]

Thanks everyone for the pros and cons but i am still confused about one thing. I was told if i didnt want to upgrade i could continue paying off the phone. What happens after the two years and its paid off and i wanna get a new phone do i gotta give that back?

Why would you give something back that is fully paid for, no you don't

 

[Simple_fear85]

Thats where i am confused the rep told me i had to give a phone back to get the upgrade. So if i paid off a phone and then go in they give me another like they did before.

 

[Rxpert83]

Thats where i am confused the rep told me i had to give a phone back to get the upgrade. So if i paid off a phone and then go in they give me another like they did before.

If you pay off the full phone, it should be yours to keep

If you pay off half, you'll trade it in on the credit you owe

 

[Clementine_3]

Just remember that once you are no longer on Edge you don't get the discounted pricing.
You'd want to re-Edge if there's not a decent plan.

 

[timelord65]

Thats where i am confused the rep told me i had to give a phone back to get the upgrade. So if i paid off a phone and then go in they give me another like they did before.

The point to being on the edge program is upgrading more frequently. If your going to keep the phone for two years, and your happy with Verizon, then just sign a two year contract in exchange for a subsidized phone.

With edge you can get a new phone once 50% of your current phone is paid off.
Which is about what you'd get selling it on your own in a year or two. Your basically buying a new phone every 6-8 months at half price. Htc One m8 costs $600 retail, But you pay $300, then return the phone is good working condition then edge up to another phone.

Again don't edge if your not going to upgrade frequently. Otherwise its a great program. Thank you t-mobile

 

[hilmar2k]

The point to being on the edge program is upgrading more frequently. If your going to keep the phone for two years, and your happy with Verizon, then just sign a two year contract in exchange for a subsidized phone.

With edge you can get a new phone once 50% of your current phone is paid off.
Which is about what you'd get selling it on your own in a year or two. Your basically buying a new phone every 6-8 months at half price. Htc One m8 costs $600 retail, But you pay $300, then return the phone is good working condition then edge up to another phone.

Again don't edge if your not going to upgrade frequently. Otherwise its a great program. Thank you t-mobile

If you are on the ME 10GB or higher plan, Edge is actually cheaper than buying the phone upfront subsidized.

It takes 12 months for an Edge phone to be half paid off, though if you want to upgrade prior to that you just need to pay the difference

 

[iowabowtech]

I was thinking of switching to the Edge program for my next phone but evidently, vzw thought it was too good of a deal because the terms just changed. On their website it's now saying the contract term is 20 months and you must pay 60% of the device off before upgrading*. Classic vzw.

*Those on Edge prior to 6/1/14 are grandfathered into the 24 month and 50% rule as before.

http://www.verizonwireless.com/wcms/consumer/devices/edge.html#common-questions

 

[svensett]

Actually I think the only thing that changed was going to 60% instead of 50% and maybe the number of installments. According to this (Verizon Edge - Verizon Wireless) you can upgrade anytime after 30 days if you've paid 60% of the phone cost. It still works out to 12 months of installments (20x.6=12) to reach the "break even" point, but you've obviously paid a little more per installment.

Not saying it's great, but you're not locked in for 20 months if that is what your understanding of it was.

 

[iowabowtech]

Actually I think the only thing that changed was going to 60% instead of 50% and maybe the number of installments. According to this (Verizon Edge - Verizon Wireless) you can upgrade anytime after 30 days if you've paid 60% of the phone cost. It still works out to 12 months of installments (20x.6=12) to reach the "break even" point, but you've obviously paid a little more per installment.

Not saying it's great, but you're not locked in for 20 months if that is what your understanding of it was.

I'm looking it it just as you are. The Edge plan now costs more per month with these changes and you end up at the same 12 month time frame before upgrading if you don't pay it off early due to the new 60% rule (was 50%).

On a $600 phone:

Previously > $600/24 = $25 per month. Upgrade eligible in one year (24*0.5).

Now > $600/20 = $30 per month. Again, upgrade eligible in one year (20*0.6).

Most people are going to pay the calculated monthly payment and end up upgrading an near 1 year intervals. They are banking on that.

 

[hilmar2k]

I guess it makes it more worthwhile to pay it off in full when you want to upgrade and sell it. Using your $600 phone, that would leave a $240 balance. I would assume that you could get more for it than that selling it.

Dammit Verizon....you finally had a competitive program and you have to go back and change it just enough to make it non-competitive again.

 

[iowabowtech]

I guess it makes it more worthwhile to pay it off in full when you want to upgrade and sell it. Using your $600 phone, that would leave a $240 balance. I would assume that you could get more for it than that selling it.

Dammit Verizon....you finally had a competitive program and you have to go back and change it just enough to make it non-competitive again.

Exactly. They were right of the brink of having me on this, now it's a no brainer to skip this for my needs.

Also, I wonder exactly what they mean on their grandfathering language:

Note: Customers with Edge agreements signed prior to 6/1/14. You'll keep your 24-month installment contract, and will have the option to Edge Up to a new phone after paying 50% of the original phone, and returning the original phone to us in good working condition.

So does that mean for their current agreement only? Or future agreements as well? It really doesn't specify.

If current agreement only, that's a bait and switch imo. Some people were lured out of their unlimited data for this. And now look at it. You'd again be better off selling a device and staying month to month.

 

[Rxpert83]

That's the million dollar question

 

[hilmar2k]

Current agreement only, according to VZW.

 

[iowabowtech]

Current agreement only, according to VZW.

Very, very sad if true. I'm only leaving it open ended because we all know rep answers can vary.

Another question in that same light...many unlimited customers were lured into Edge with the agreement that they'd get 6GB of data for losing their unlimited plan. This value was verified by me as still available last week. I wonder if that could also change with the next upgrade since they appear to have already dropped the grandfathering on the other terms.

 

[svensett]

Anyone know if you are required to re-up at the end of the contract period, or could you keep the phone and just be paying for the plan? If they force you into a new phone/plan then yeah, pretty shady. If you can keep the phone and keep the discounted plan rate then maybe not so bad...

 

[Simple_fear85]

I believe you lose the discounted rate from talking to a few people.

 

[hilmar2k]

Anyone know if you are required to re-up at the end of the contract period, or could you keep the phone and just be paying for the plan? If they force you into a new phone/plan then yeah, pretty shady. If you can keep the phone and keep the discounted plan rate then maybe not so bad...

I believe you lose the discounted rate from talking to a few people.

Correct, you can keep the phone and lose both the phone payment and the discount. If you are on the 10GB or higher plans, that discount is $25. Makes no sense to keep an old phone when the cost of a new one is similar to the discount (at least it was prior to the change).