Verizon's Note 7 pricing - No benefit to buying outright

[johnpjackson]

Ok, I ever tried calling and talking to Verizon sales, and from everything they said, it seems clear that there is no incentive to buy the Note 7 from them outright, for $864. You can pay for it for $36/month, for 24 months, which comes out to the same amount. And there's no contract. What happened to the idea of getting a better price if you didn't finance your purchase?

 

[toptobottom]

Ok, I ever tried calling and talking to Verizon sales, and from everything they said, it seems clear that there is no incentive to buy the Note 7 from them outright, for $864. You can pay for it for $36/month, for 24 months, which comes out to the same amount. And there's no contract. What happened to the idea of getting a better price if you didn't finance your purchase?

Because the big V ain't hurtin' to have to do that.

They should have a tagline "It's Our way, or take the Highway!"

Funny how these corporations like Verizon, Samsung, Apphole and many others jerk everyone around now. This NOTE S7 is sooo lackluster it's unreal. My NOTE 3 has only one less GB of RAM than it does. Oh, and I have 4 spare batteries that gives me 100% power in 10 seconds (the time it takes to change it), whenever & wherever I please.

I laugh how Samsung suckered everyone with such a thin phone that they can't even fit a powerful enough battery into it. I bet some corporate hotshot said "Ah, dat okay! We making BIG battery pack to slap on the back and charge our Samsheeple extra money for big plofits." Yup, now you get to walk around with a BRICK in your hand. What an ingenious marketing scheme!

Nope, I'm not going to go the Samsheeple route again this time. I just threw a new Spigen Ultra Crystal screen protector on my NOTE 3 and going to rock it until Samsung delivers a truly upgraded technology and not something so half-baked. READ THIS SAMSUNG!!!

 

[Jerry-rigged]

Ok, I ever tried calling and talking to Verizon sales, and from everything they said, it seems clear that there is no incentive to buy the Note 7 from them outright, for $864. You can pay for it for $36/month, for 24 months, which comes out to the same amount. And there's no contract. What happened to the idea of getting a better price if you didn't finance your purchase?

Even worse, (or better, depending on your point of view) if you finance it, they give you a $25/month credit on your account. Once you pay it off, the credit goes away... LOL

so buy it outright = $864 out of pocket
"Finance" it = $264 out of pocket.

 

[johnpjackson]

What a nightmare:


DATE/TIME: 2016-08-03 13:32:58
Chat Transcript
PLEASE DO NOT REPLY TO THIS MESSAGE - All replies are automatically deleted.
Verizon : Hi! How can I help you today?
You : What is the benefit of purchasing the Note 7 outright, as opposed to buying it over 24 months?
DESTINY : Welcome to Verizon Wireless Sales chat!
DESTINY : Whom do I have the pleasure of chatting with today?
You : John
You : Thank you for being my Destiny!
DESTINY : Hello John Thanks for chatting in with us today. I will be more then happy to assist you with payment plans.
DESTINY : You are able to break the full retail price down so it can be cheaper for you instead of paying a lump some all at once
You : Why would anyone pay the full price up front, in that case, if they can pay it over 24 months?
You : There's usually some incentive for buying the device outright, instead of having Verizon finance it.
DESTINY : Some people don't want o keep paying on the phone each month if they have the money for the phone with them then some don't and rather break it don't so they can afford it
DESTINY : Are you looking to make a payment today ?
You : That still makes no sense. Either Verizon is offering to eat the cost of financing loans to people so they can buy the phone over 24 months, or, Verizon is not reducing the purchase price of the phone to people who don't wish to pay for that financing by paying the full price up front. You do understand my question, correct?
DESTINY : The device payment program, allows us to drop your line access fee from $40.00 a month to only $20.00 a month, which helps to cover the cost of the payment. Upgrade and activation fees are also discounted by 50%.
DESTINY : With the monthly device payment option you get lower access line charges and cheaper activation/upgrade fees compared to 2-year contracts. You also have the option to upgrade at any time by paying off the remaining balance.
You : What you're saying makes the world sound backwards. You're saying there are several disincentives for anyone who pays the full price up front, correct?
DESTINY : The benefit of paying the full retail cost of a device is to not be under a contract and be able to upgrade whenever you like. however when you choose device payment you can pay the device off for say 9 months and a new phone comes out you just have 11 more months to pay off and you can upgrade, I choose device payment so I will not have so much to pay up front but when a new device come out I can still pay it off and upgrade and then I can trade in my device for a credit.
DESTINY : Paying up front would get you a cheaper bill monthly but you pay more up front so it would be the better option if that can be paid up front.
You : So, you're saying that choosing the 24 month payment plan DOES put you under contract for 2 years?
You : Destiny?
DESTINY : Of course not
DESTINY : With the 24montly payment you are not entitled for a 2yr contract you are able to by out your phone whenever you like
You : I think we're going around in circles. Are there 2 year contracts available which result in paying a lower total amount for the purchase price of the phone?
DESTINY : Being that you are on the verizon plan you can stay with the 2yr contract with your phone purchase however with if choose to upgrade plans you have offer being on DP or paying the full price no contract offered
You : If I stay with my 2 year contract, do I get to pay a lower total price for the cost of the phone?
DESTINY : yes this is correct
You : What would the cost of the phone be if I stay with my 2 year contract?
DESTINY : Okay give me a few minutes i will look up this information for you
You : Ok thanks.
DESTINY : No problem
DESTINY : Getting the calculations ready for you thanks fro holding
You : No problem.
DESTINY : okay your access fee is 20.00 + the data plan 30 + the 2yr price 299.99
DESTINY : 349.99 is the total
DESTINY : How does that sound to you ?
DESTINY : However i can tell you the price if you was to switch to device payment on the new verizon plan if you want
You : So, would I be paying that $299 over the course of my 2 year contract, plus monthly usage fees?
DESTINY : You will pay th 299.99 once pay the access fee and the data usage every month
DESTINY : the 20 and the 30
You : So I'd pay $299 up front? And then $50/month for the next 2 years?
DESTINY : Yes this is correct
You : That seems like a lot better option than paying $864 up front, or paying $864 over 24 months in payments of $36/month.
DESTINY : I totally understand
DESTINY : Is there anything else I can help you with today?
You : It just means I'm on contract, right?
DESTINY : Yes Correct
You : That would be fine since I have no reason to go anywhere else. I have another question. Samsung is offering a free microSD card or Fit2 Watch if you buy the phone from them. Is Verizon doing any types of promotions like that?
DESTINY : yes this is the promotion that we are currently doing as well
DESTINY : Do you want to start your order process today ?
DESTINY : I haven't heard from you in a while. Would you like to continue chatting?
You : Hang on!
DESTINY : No problem
You : Ok, so I could pay the $299 up front, stay on contract, and get the choice of a 256GB Samsung microSD card included?
DESTINY : in order to be eliglbe for this promotion you will have to have a new device on device payment
DESTINY : eligible
DESTINY : However being that you are wanting to stay on 2yr contract this promotion will not be applied
You : Ok, so no, I do not want to do that. By staying on my 2 year contract, I will save $564 on the cost of the phone, if I've understood you correctly. It will only cost me half that much, or less, to buy my own microSD card myself.
You : Correct?
DESTINY : Correct
You : Ok. So yes, I do want to proceed on buying the phone for $299.
DESTINY : Awesome have you signed in to your account?
You : Let me look..
You : Yes.
DESTINY : Perfect
DESTINY : Hover over My Devices and click Upgrade Devices
You : Ok, I'm proceeding. Just choose the Note 7 that I want?
DESTINY : Correct
You : Ok, I've done that. It now asks me to choose how to pay - $36/mo or $864.
DESTINY : Okay one moment while i pull your account back up and see please
You : So far so good?
DESTINY : Okay being that You are the verizon plan its only showing these to options for you which I apologize fro if i confused you in any way the 36.00 DP applies to your phone the 2yr does not
DESTINY : which means 36+20+30
You : I'm no longer on a 2 year contract, already?
DESTINY : Yes it says your plan does not offer the 2yr contract which is why you only see this 2 options.each moth your bill will be 86 each month on DP
DESTINY : or the full price 864 at at once and 50 each month
DESTINY : I do apologize for the confusion
You : Ok, I think I know why I'm not on contract anymore. There's nothing I can do about that. But that returns us to the original question. Why is the up front purchase cost the same as the 24 month financed cost? Paying full price up front should cost less than the 24 month financed option, because Verizon doesn't have to finance a loan to me for 24 months for the cost of the phone. You know what I mean?
DESTINY : When you purchase a phone on device payment you are paying on the retail price of the phone over 24 months. The contract is for the phone. You can choose to pay off the phone sooner to upgrade to a new phone or remain out ouf contract. For your current plan, Verizon Plan, it is centered around order the phone on the device payment program which you have a $20 discount on the line access fee which could be $40 when you purchase the phone at the 2 year discounted price.
DESTINY : Once you pay off the phone the payments will be removed.
DESTINY : The device is yous to do as you choose or you can trade the phone in to use the trade in as a down payment on the new device to lower the monthly payment on the device.
You : No, you're not understanding my question. The total cost of the phone should not be the same between either financing it for 24 months, or buying it up front for $864.
You : Buying it up front should be less money, or financing it for 24 months should be more money.
You : Something's not right with that.
DESTINY : They are the same when it comes to the final amount. With device payment you are agreeing to pay on the retail price of the phone in 24 monthly payments instead of paying the amount upfront. If you are looking to see if you can go back to your order plan in order to purchase the phone at the 2 year discounted price of $299.99 + there is a $40 upgrad3e fee for the Note 7 I recommend calling customer care. Since you are under the Verizon plan the options to purchase a phone is on device payment. Would you like the number to see if you can go back to your older plan?
DESTINY : Just checking in, How is everything going?
You : No, you're still not understanding the meaning of my basic question. The total purchase price of the phone itself should not be identical to finance for 24 months versus purchase all at once, up front. Financing costs someone more - either me, or Verizon. So, either $864 for an up front cost is higher than it should be, or 36/month for 24 months is lower than it should be.
You : I know you are anxious to end our conversation but I need to get my questions answered correctly, I'm sorry.
DESTINY : Maybe I'm not understand your statement. Device payment is the $864 divided by 24 which comes to $36 a month and after 24 months you pay the retail price of $864. The only difference between retail ;price and device payment is with retail price you do not have a contract. With device payment the contract is on the phone to agree to pay on the retail price within 24 months or sooner. There are no financing charges and once you pay off the device it is yours to keep.
You : But I already do not have a contract. We just went through all that.
DESTINY : Correct but since you are out contract and you are looking to upgrade your line your options to purchase a device based on your plan is to purchase with device payment and have the $36 monthly payment added to your plan and you only pay tax and accessories upfront cost OR purchase at the retail price and pay the amount upfront and keep your monthly cost the same.
You : I'm not looking to upgrade my line. I'm looking to get a new phone. And what I'm seeing is that it will cost me the same to finance the phone for 24 months, or to pay for the full cost up front. The issue is about the total cost of the phone. The amount of my monthly payment has no bearing on the issue at all. If I pay the full retail price up front, it should be a lower total price than if I choose to finance it over 24 months, because Verizon isn't loaning me the money to pay for the device. Correct?
DESTINY : yes pricing for the phone is the same with retail price and device payment. The retail price of the phone is set by the manufacturer and device payment is a agreement on the retail price of the phone which are the same pricing. $864 with device payment and $864 with retail price. The only difference with device payment it allows to break the $864 in to 24 monthly installments. When referring to upgrading meaning you are upgrading an existing line on your account without adding an additional line to your account. You can try calling customer care to see if you can go back to your older plan in order to purchase the phone at the discounted price. As a sales agent I do not have the access to make changes to your account to change your plan. You can do this with customer care at 1-800-922-0204.
You : Do you agree it makes no sense for ANYONE to EVER pay the full retail price up front, if they can hang onto their $864 and just pay it out to Verizon in chunks of $36/month for 24 months?
DESTINY : It is an option and customer choose to pay the retail price of the phone upfront based on their options at the time OR if they are choosing to remain out of contract. I have sold device at the retail price. That options is not for all customers. In your case when you try to purchase a phone with your current plan your options is to purchase on device payment or retail price.
DESTINY : With your plan you are receiving a $20 discount on your line access fee versus paying $40 when you purchase at the 2 year pricing when you change back to your older plan.
You : I see those two purchase options listed before I even login as my own Verizon user id. That means the two options are what everyone is being shown, who's not logged in.
DESTINY : That is the options for new customer since they will be on the Verizon plan. Verizon plan is centered around device payment.
DESTINY : If any customer is on the Verizon plan those are their options to purchase aphone.
DESTINY : * a phon3e
DESTINY : *phone
You : Wait. So, if I pay full retail up front, my line access fee is $20/month, and if I do the $36/month DP plan, my line access fee is $40/month?
DESTINY : When you order the phone on device payment or retail price on your current line access fee will remain $20. versus paying $40 when you purchase at the 2 year pricing when you change back to your older plan this is when you pay the $299.99 pricing of the phone + there is a $40 upgrade fee.
DESTINY : Just checking in, How is everything going?
You : No, we're not talking anymore at all about going back to my old plan. We're talking about me, or anyone else off the street who's a first time Verizon customer, for that matter - being offered an identical price for the phone whether that pay the whole cost up front, or they pay it off in monthly installments. Everything you're telling me is saying that the total cost they are being charged for the phone itself, in both those cases, is $864. What I'm saying is, that implies that Verizon is willing to loan the customer the $864 for a 24 month loan, and not charge them anything extra for the cost of loaning them the money.
You : Right?
DESTINY : You are charged for the phone and that is the $36 monthly payment that is added to your plan cost. 36*24=$864. This is a contract when you purchase on device payment. Meaning for new customer there is a credit check. . You are agreeing to pay on the phone over 24 month or sooner since you pay off the phone time. You pay the tax for the phone upfront and accessories.
You : Either way, I pay $864 for the phone. If I want to pay up front, it should be something less than $864, because Verizon isn't having to pay someone to finance my purchase for 24 months. Do you agree?
DESTINY : I can not agree since the retail price is set by the manufacturer and the contract is based on the retail price. At this time there is no promotion to lower the retail price for the Note 7.
You : What you're really saying is, for an unknown reason, Verizon isn't charging anything additional to finance the retail price of the phone to people for 24 months. That can only mean that they are recovering that cost somewhere else. That's fine, if they want to do that. I'm just saying that to no allow the customer to save themselves some money by paying the full price up front is just a bad business decision by them, I guess.
DESTINY : There are no financing charges. You are just paying the retail price of the phone and once you pay it off the device is yours to do as you please. Since you are paying the tax for the phone upfront with device payment the only additional cost to your account will be the $36 monthly payment for the device. The contract is for the device only not the service with device payment.
DESTINY : Is there anything else I can help you with today?
You : You're right. *I'm* not financing it by buying it over 24 months. Verizon is. They can't just hand out the device to me without having paid Samsung for it. Someone is financing someone for that $24 months. I'm thinking now though that you must have been told not to address this question, because I can't believe you don't understand what I'm saying. I do thank you for your time and effort. I know this must be a difficult job. Have a nice day.

 

[toptobottom]

"It's Our way, or take the Highway!"

Looks like you're Destiny-ed to pay the FULL amount Either way!

 

[Teegunn]

So if you take the payment plan (which would be silly not to), you also get $25 off you bill monthly too? What the lady was saying was too convoluted to get a final verdict on that part for me. If you actually get a $25 monthly CREDIT to your bill, that makes the payment play way cheaper.

 

[MannyrtFresh]

^ yes that's correct.

I have an upgrade available. I'm going to do the 2 year payment plan. So $35 a month minus the $25 makes it $11 a month for 2 years which turns out to be $264 and don't forget you still get to choose between the 256 SD card or the watch.

 

[Teegunn]

^ yes that's correct.

I have an upgrade available. I'm going to do the 2 year payment plan. So $35 a month minus the $25 makes it $11 a month for 2 years which turns out to be $264 and don't forget you still get to choose between the 256 SD card or the watch.

That's a no-brainer then. I have 4 lines on my account, my own line and one other of the lines are not on contract as I have bought my phones outright for those lines instead of getting a phone on the 2 year plan. The other two lines are on contract and I am paying on phones on those lines on the 2 year plan. I am hoping that getting the N7 on my line (the main line of the account) does not effect my overall plan. I have the 30 gb plan and although I haven't looked, I am not sure they offer that plan any longer and I don't want to lose my current plan. If getting the N7 doesn't change anything on my plan, I think I will preorder also as it will save a significant amount of $ longterm over pay the $864 outright.

 

[WeeWilly]

I don't know about the $25 monthly credit, but I think all the major carriers offer no interest installment contracts. The advantage to paying off the contract is that you can unlock the phone and move it to another carrier. I've been happy on Cricket paying a flat $35.00 per month, including fees and taxes. However, I'm pre-ordering the Note 7 through T-Mobile, and that service will cost me about $55.00 per month. After I've been on T-Mobile for about 40 days and paid off the installment contract, I can unlock the phone and move back to Cricket (unless I find some compelling reasons to stay with T-Mobile).

 

[The_Chief]

I was planning to stop at Verizon to see if they would match Best Buy's promotion of a free 256GB microSD card with pre-order. But then I read an article at Droid Life about the Sam's Club promotion!

http://www.samsclub.com/sams/pagede..._LS&siteID=TnL5HPStwNw-BnBos9jaGujVgqMZncNvqA

Basically, pre-order from Sam's Club and pick it up in the store on the 19th. Free activation, free 256GB microSD card (or Gear Fit 2), AND a $150 Sam's Club gift card! The freebies amount to almost half the value of the phone... and if you're not a member, it makes sense to join for the year just to get this deal. Anyway, I pounced on it!

 

[MannyrtFresh]

I was planning to stop at Verizon to see if they would match Best Buy's promotion of a free 256GB microSD card with pre-order. But then I read an article at Droid Life about the Sam's Club promotion!

http://www.samsclub.com/sams/pagede..._LS&siteID=TnL5HPStwNw-BnBos9jaGujVgqMZncNvqA

Basically, pre-order from Sam's Club and pick it up in the store on the 19th. Free activation, free 256GB microSD card (or Gear Fit 2), AND a $150 Sam's Club gift card! The freebies amount to almost half the value of the phone... and if you're not a member, it makes sense to join for the year just to get this deal. Anyway, I pounced on it!

Verizon is already offering the same free 256 microsd card or the gear fit 2.

 

[The_Chief]

Yeah, I finally saw that... which contradicts what the Verizon CSR told me. Still, the $150 gift card was icing on the cake for me

 

[toptobottom]

Yeah, I finally saw that... which contradicts what the Verizon CSR told me. Still, the $150 gift card was icing on the cake for me

According to what someone said in the Pre-order thread, you'd have to get the freebies through Samsung AFTER you get your phone. So, technically, the CSR was correct because it's not coming from the big V.

 

[The_Chief]

Details, details, details. I asked the CSR if there were any promotions... not just VZW promotions. Oh well, ancient history. And yes: the promotions come from Samsung, which will require the MEID and the receipt to send out the promotions.

 

[johnpjackson]

So, has anyone figured out yet if there is ANY benefit to paying Verizon for the full cost of the phone up front, instead of taking the 24 month installment plan?

 

[Ag76]

Johnpjackson not being able to get a Note 7 from Verizon on a 2 year contract for $299.99 had me a little concerned. I remember getting a mailing from Verizon a while back offering a new type of plan, but I ignored the offer and elected to stay on my current plan. I just logged into my account with Verizon and see I have the option to get the Note 7 on contract for $299.99 if I want, since my contract expired over a year ago. That was a relief since I ain't paying $864 for a new phone.

I've lost some excitement over the Note 7, so was thinking about saving some money with the S7, which is $199.99 on contract. The S7 Edge is the same as the Note 7 on contract, so I'm guessing that's a no brainer. Is the Note 7 well worth the $100 upgrade over the S7 Edge?

 

[johnpjackson]

Johnpjackson not being able to get a Note 7 from Verizon on a 2 year contract for $299.99 had me a little concerned. I remember getting a mailing from Verizon a while back offering a new type of plan, but I ignored the offer and elected to stay on my current plan. I just logged into my account with Verizon and see I have the option to get the Note 7 on contract for $299.99 if I want, since my contract expired over a year ago. That was a relief since I ain't paying $864 for a new phone.

I've lost some excitement over the Note 7, so was thinking about saving some money with the S7, which is $199.99 on contract. The S7 Edge is the same as the Note 7 on contract, so I'm guessing that's a no brainer. Is the Note 7 well worth the $100 upgrade over the S7 Edge?

I think they've still got you hosed, either way. What the rep told me today is that if I wanted to go back to my old 2 year contract arrangement I could, and get the phone for $299. But, my monthly 'line' charge on the contract plan would be $40/month, instead of what it is now with a plan that is not a contract - which is $20/month. So of course, over the course of 2 years, that extra $20/month basically eats up the ~$500 'savings' I'd get by buying the phone for $299 on a 2 year contract.

Which still brings me back to my original question. What's Verizon up to by selling the device for $864, either in one lump sum up front, or over the course of 24 months in $36 installments? Either the up front cost is higher than it should be, if Verizon isn't footing the cost of financing the sale, or, the installment plan is not recouping Verizon the cost of loaning the money to provide it. I'm so disgusted by the shady pricing games shit...

 

[mikedt]

I don't understand this thread.

 

[eddiekeyton]

So, has anyone figured out yet if there is ANY benefit to paying Verizon for the full cost of the phone up front, instead of taking the 24 month installment plan?

The benefit is that you can upgrade without paying the rest of the phone off. You give them that phone back that you're paying on monthly after a certain allotment of time and you don't pay anymore on it and you get the newest device instead of paying full price again for a different phone. But again that screws you too because you laid so much on phone X and gave it back and started over on a new phone and big red gets to sell your old phone as a refurbished device for 100% profit. That's why they do that payment plan with no interest and give you money off your bill (I used to work for Verizon)

 

[johnpjackson]

I haven't seen anywhere that they give you money off your bill if you indenture yourself by accepting the payment plan, instead of the full purchase up front.

 

[MannyrtFresh]

I haven't seen anywhere that they give you money off your bill if you indenture yourself by accepting the payment plan, instead of the full purchase up front.

It's there. Go into your account. Choose the new phone, etc etc at the checkout page it'll show the $25 monthly discount I'd you choose the monthly payment option for the phone. I did this earlier. So it's there trust me. I just haven't actually put in my pre order because I can't decide on a color.

 

[seVer]

I love how this post is pretty much all bashing Verizon. News flash... ATT, TMo, and Sprint, all have similar options for getting new phones. It's based on customer feedback. People bitched and moaned about contracts, but bitched and moaned about buying the device outright. So, middle ground- device payments. No interest, no contract. You're only obligated to pay off the device.


Here's a (hopefully) clearer version of VZW :

1) Full retail. No strings attached. If you're on the verizon plan ("new" or prior), $20 line access instead of $40 as long as you're out of contract. Buy a new phone whenever.
2) Device payment. Retail price broken down into 24 payments. If you're on the verizon plan ("new" or prior), $20 line access instead of $40. Some devices (Note7 being one of them) you can trade in and buy a new phone after you've paid off at least 50% of the cost (Google "Note 7 annual upgrade"). You can also just pay it off early (no penalty) and get another device on device payment, or buy a device at full retail.
3) 2year contract (if on More Everything or earlier plans). You get a discounted cost, but will be on a 2 year SERVICE contract. You can cancel, but will be penalized if you cancel before the end of the 2 year term. Your line must be eligible for upgrade (at the 2 year mark, or have a special promo) to either get another discounted device or get a device on device payment. You can buy a device at full retail anytime.

All options have additional taxes and fees, as applicable (e.g.- Oregon doesn't have sales tax, but upgrade fees still apply).

NOTE: Being out of contract on the verizon plan ("new" or prior) means your line access automagically drops to $20, so if you're out of contract already, it really comes down to cost vs convenience. If you want to pay $900+ up front, enjoy your new phone with no strings attached. If you'd rather pay it over time, device payment is the best option.

NOTE 2: More Everything month to month discount for being out of contract was retired. If you don't have it, you won't get it. With device payment, however, you should still get a monthly discount ($15/mo 4GB plan or less, $25/mo 6GB plan or higher).

SOURCE: Been a customer over 17 years (before it was VZW) and have been through all the changes. Plus I know a lot of folks who work there (both retail and call center).

 

[mikedt]

Why does buying a phone have to be so complicated? Definitely confused here. Although I've never dealt with Verizon of course.

 

[jlrosell]

There sure is a line access discount when you get on the edge (monthly payment) plan. I have had it since my s6 edge. We also get the stacking on my wife's line for her iPhone, and her mom's line. So we save 75 dollars a month, and can trade in our phones after 30 days or 50-75% paid. Never having to pay full price on the phone.

Now, the note 7 is 36 dollars a month on edge, but with the 25 dollar line access discount it's only truly adding 11 dollars a month to the bill, while giving me freedom to update after I only pay off 50% of the phone.

So I can easily upgrade to the S8 next year if I'd like to.

What's the benefit of owning your phone outright? You can get money for trading it in. I can't because I don't own mine.

Or you can sell it if you think you can get more than Verizon offers.

Or, you can keep it as a backup whereas I have to send mine back when my note 7 arrives.

 

[toptobottom]

This is no different than the example of buying a new car.

There are 0% loans= incentives available, so in essence, either a person who goes for the incentive (incurring loan payments) or the cash buyer can actually pay the same price for an identical Make/Model if both have negotiated down from the 'sticker' equally.

Simple!

The Big V - "It's Our way or take the Highway!"