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Can someone help me understand the Verizon Edge program?


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#1 Danascraps  OFFLINE  

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Posted Nov 18, 2014 - 7:14 pm

Hi, I spoke with a Verizon customer service person last week... and when I got off the phone, I was more confused than ever.

 

We have a 4 cell phone house, with 2 smart phones and 2 regular phones on a Verizon plan.  I wanted to know how much it would add to switch the 3rd line to a smart phone also.  We pay about $188 now.

 

He recommended a new shared plan with 10GB of data, while adding the 3rd line.  He also recommended a Verizon Edge plan for the phone, which would cost $27 per month for a iphone 6 plus a $25 rebate per month for having the 10 gb line.  This seems much cheaper than spending $200 for the phone plus the $35 upgrade fee.

 

It seems too good to be true.. as it has to be in Verizon's best advantage to do it.  So, that's why I'm confused.  

 

Can someone recommend the best way to go about adding another iphone to our account while saving the most $?  I wish everything wasn't so complicated!!  By the way, we're not a family that upgrades our phones frequently, we stick with what we have until we need something new.

Thanks so much for your advice!



#2 artesian  OFFLINE  

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Posted Nov 19, 2014 - 6:29 am

So I am in the same boat. I called for tech support the other day and the end of the call went something like this. So I see you have 2 lines out of contract. You are eligible for our Edge program. Your bill will got down $40 a month and we bump you yo 10Gb shared. I started asking all kinds of question but don't really understand what it all meant. I will be taking a ride to my local store to figure this out. 



#3 nikkilugi  OFFLINE  

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Posted Nov 19, 2014 - 6:57 am

I have the Edge program on my phone.  Basically it is an installment plan on your phone for the off contract amount to purchase the phone straight out.  I have the Nokia Lumia Icon - my Edge program says that my financed amount was $549.99.  I am set up to make 24 payments towards that amount.  My plan started on Feb 20th, 2014 - I need to pay approximately 50% (a little more) of the plan off before I am eligible to upgrade my phone for a different one (Edge Up).  If I decide to upgrade I will need to turn in my Nokia when I get a new phone since I did not finish paying it off.  

 

The benefit of this plan is that you can upgrade your phone sooner than you would if you entered a 2 year contract.  I only have to pay off 50% of my contract to upgrade but now the agreement is 75% (so basically upgrade at 18 months instead of 24) and you will have to turn in that phone you have been paying for so you have nothing to show for those payments.

 

I am at the point where I have decided I don't like the Windows Phone.  I have tried and tried to like it but I don't.  I will probably "Edge Up" because we don't usually sell or trade in our phones after we use them anyway.  I will probably get an Iphone 6plus and just keep that for the entire 2 years.  After that I will probably move off the Edge program into a contract.



#4 freesia39  OFFLINE  

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Posted Nov 19, 2014 - 7:49 am

The main attraction of the plan for people is that they can upgrade sooner, but you'er paying close to full price for the phone in monthly payments.

 

When you upgrade, you must send the phone back. It must be in resellable condition or you do not get the credit, and you're paying the rest of the phone off.

 

It's good for those who are interested in frequent(ish) upgrades and cannot afford to pay the $200 or more upfront for some phones in a two year deal. Also they are giving discounts.


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#5 nikkilugi  OFFLINE  

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Posted Nov 19, 2014 - 7:56 am

Remember though now you have to pay 75% of the balance off before you even qualify for an upgrade.  Around 18 month upgrades instead of 24 for a 2 year contract.



#6 Danascraps  OFFLINE  

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Posted Nov 19, 2014 - 9:24 am

Am I figuring the numbers wrong?  About $27 for the phone per month, so $27x24=$648.  BUT, they say I get a $25 a month rebate, so $26x24=$600.  $648-600=$48 for the two years for the phone... instead of a regular two year plan which is $199, plus $35 upgrade fee.  

The Edge program seems like winning numbers even without the early upgrade.  Am I missing something?

 

Thanks again for your help!



#7 Pnambic  OFFLINE  

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Posted Nov 19, 2014 - 1:21 pm

Check the details on that rebate.  I think the $25 rebate has a drop dead date of some time in 2015.  Might even be Jan 2015....can't remember.


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#8 Scott  OFFLINE  

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Posted Nov 20, 2014 - 3:49 pm

These complicated plans are one of the reasons why I dumped the carriers.  I understand the need for them, but you end up paying so much for the phones.



#9 conj  OFFLINE  

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Posted Nov 20, 2014 - 4:15 pm

These complicated plans are one of the reasons why I dumped the carriers.  I understand the need for them, but you end up paying so much for the phones.

 

 

So what do you use?


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#10 nirvana4all  OFFLINE  

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Posted Nov 20, 2014 - 7:04 pm

http://www.androidce...-phone-purchase

is how it breaks down that ATT & T-mobile are using this type of thing to make themselves more $  (especially AT&T).

 

I cant find the link right now, but the Verizon edge program works essentially like the AT&T next program listed.


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#11 jabsther  OFFLINE  

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Posted Nov 22, 2014 - 6:02 am

I'm pretty sure in a nut shell:

regular plan = pay more per month but get discounts on a new phone after 2 years

Edge = cheaper per month but need to pay for the full price of the phone. No discount prices.

 

There is more to it, like upgrading early/ etc.but that is basic difference of cost.

Your Edge monthly cost will be higher if you pay for the phone in monthly installments.


Edited by jabsther, Nov 22, 2014 - 6:02 am.


#12 Monstermile  OFFLINE  

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Posted Nov 23, 2014 - 6:56 am

A few other things about the Edge program.

 

-You are not under a VZW contract. You can leave VZW at any time without having to pay an ETF. But you do have to pay off the phone

-You can pay off the phone early at any time. This will allow you to:

  A. Sell the phone outright since you will own it

  B. Upgrade to another device on the Edge program



#13 Danascraps  OFFLINE  

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Posted Nov 23, 2014 - 2:26 pm

Thank you for all of your replies.  



#14 premiumchip  OFFLINE  

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Posted Sep 23, 2015 - 12:24 pm

Really good discussion guys. Thanks. I went with the edge program on one of the three smart phones on my plan and when I totaled it up after the $25 rebate per month, it comes out that I'm paying about the same amount for the phone as I would if I had waited for the two year contract to end and bought the phone at the discounted rate. The only advantage I could see was that I didn't have to have all the money up front to pay for the phone with the Edge program. I'm still skeptical though. I think somehow Verizon is making more money or they wouldn't be doing it. 





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