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Smartphones, Tablets and Handheld Computing From Android, Symbian to Apple devices, this is the place for discussion and debate, whether it's smartphones, tablets or even gaming handhelds.

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Old Sep 25, 2016, 05:03 PM   #1
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TenFour
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Default Can someone explain iPhone trade-in at Verizon?

It sounds too good to be true. You pay taxes for a new iPhone 7 when signing up for 24 installment pay plan ($27.08 a month) and give them your iPhone 6. After they receive device, they give you $650 credit on your account, divided into 24 credits.

So basically, your monthly bill remains unchanged and you have a newer phone and are only out the taxes on $650. I think you even get to keep your old earbuds.

Am I missing something? I already switched to their "new" cheaper plan that has removed the cell phone subsidy. Don't understand why they would make their plans this much more attractive.
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Old Sep 25, 2016, 06:01 PM   #2
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It sounds too good to be true. You pay taxes for a new iPhone 7 when signing up for 24 installment pay plan ($27.08 a month) and give them your iPhone 6. After they receive device, they give you $650 credit on your account, divided into 24 credits.

So basically, your monthly bill remains unchanged and you have a newer phone and are only out the taxes on $650. I think you even get to keep your old earbuds.

Am I missing something? I already switched to their "new" cheaper plan that has removed the cell phone subsidy. Don't understand why they would make their plans this much more attractive.
Basically whatever you think you'd get for your monthly payment, you get a discount on it based on whatever you are trading in, and obviously the taxes you mentioned.

BUT, run the numbers and they will typically give you additional information showing before/after costs.

My girlfriend just did this, but went through Best Buy as they had a lot of stock and have better CS than the Verizon stores. She still has to turn her phone into Verizon, but she has 2 weeks to do that.
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Old Sep 26, 2016, 09:54 AM   #3
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I'm on a 2 month old 6S and the Verizon offer is tempting ..

but I also don't want to lose the headphone jack.
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Old Sep 26, 2016, 09:57 AM   #4
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I'm on a 2 month old 6S and the Verizon offer is tempting ..

but I also don't want to lose the headphone jack.
2 months, paying $100 or more out of pocket, but the 7 > 6s so it is compelling.

The 7 plus is a worse value prop

If you aren't charging your device while using the headphone jack, you may not see much of an issue. Otherwise, dongles baby
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Old Sep 26, 2016, 09:59 AM   #5
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This is what I did. You have to sign up for the monthly payment plan and Verizon gives you a monthly credit for your trade-in. This reduced my 7+ payment to about $16/mo. My wife's 7 was basically free (monthly payments were a wash).
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Old Sep 26, 2016, 10:03 AM   #6
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2 months, paying $100 or more out of pocket, but the 7 > 6s so it is compelling.

The 7 plus is a worse value prop

If you aren't charging your device while using the headphone jack, you may not see much of an issue. Otherwise, dongles baby
i like the phone in my pocket while listening to music. having the stupid dongle is going to make it uncomfortable and annoying.
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Old Sep 26, 2016, 10:07 AM   #7
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This is what I did. You have to sign up for the monthly payment plan and Verizon gives you a monthly credit for your trade-in. This reduced my 7+ payment to about $16/mo. My wife's 7 was basically free (monthly payments were a wash).
Almost the same situation. She's paying a bit more per month because she had a 5 (I know, it was driving me crazy).

She also got Apple Care so it's a little more overall, but not dramatically more than before. Some decent promo's running.

AND, Best Buy reps and manager said if there is a black Friday deal for the new phones (unlikely, but you never know), they would have gift cards to compensate.
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Old Sep 26, 2016, 08:24 PM   #8
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Yes, I went into the store today, and this deal is real. I can't believe how much they moved in the direction of charging the customer less since two years ago.

The subsidy is removed from my bill ($450 / 24 per phone) on their updated plan, and I get a phone upgrade for $60 (tax plus $20 upgrade fee). So basically, it's costing me $450 less than the same kind of trade-in I did two years ago with them.

You do have to keep the new phone on their plan or you are required to pay it off immediately, so you would be out the remainder of its value. This is very similar to the old early-termination fee. I guess the market has just become more competitive.

Not thrilled about the gone headphone jack, but I only ever use the included buds anyway, so the only annoyances are that I can't charge and listen simultaneously, and I can't use the new buds with other devices. I think it's worth upgrading so the resale value is popped back up. These things are constantly depreciating...
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Old Sep 26, 2016, 08:59 PM   #9
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You do have to keep the new phone on their plan or you are required to pay it off immediately, so you would be out the remainder of its value. This is very similar to the old early-termination fee. I guess the market has just become more competitive.
Ding. They spread the credit out over 2 years to hopefully lock you in for a couple of years. Even with the measly 4GB @ $70 a month, that's about $1700 for them, minus the maybe a hundred dollars they loose reselling your trade in. Keeping a subscriber is more valuable than the loss on a subsidy. They will sell that iphone 6, parents will bite off their mother's toes if it meant $50 off a 'refurbished' iphone for their bratty kid.
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Old Sep 27, 2016, 08:26 AM   #10
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Since the contracts became illegal they had to lock people in somehow ..
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Old Sep 27, 2016, 09:13 AM   #11
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i like the phone in my pocket while listening to music. having the stupid dongle is going to make it uncomfortable and annoying.
Upgrade n***a. Get them wireless beats for the lo lo of $299

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Old Sep 27, 2016, 09:50 AM   #12
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Upgrade n***a. Get them wireless beats for the lo lo of $299

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