Edge concern

[DarkUncle]

I understand the whole principal of this program but I'm very put off by two points that I would like to make sure I'm understanding completely.

1) let's say I make my edge payments over the course of the 2 years and thereby payoff my device. I choose not to upgrade right away because I'm waiting for a specific phone release. My payments do not go down even though my device is paid off and mine to keep. True?

2) I make my edge payments for 12 months and decide I want to upgrade my device. I then walk into a verizon and decide to pay off my device 100% so I can keep it and sell it to recoup money . Except I'm not able to edge up unless I then surrender the device I've now completely paid off because I'm under 2 years. Is that correct?


If either one of these is yes, especially #2, then this is a terrible plan and a waste of money.

So unless you **** 75% of the phone's value away on payments you have made just to get a new phone, you're locked into a 2 year agreement on said device anyway if you wish to keep it.

This sounds more like a rental agreement than anything else. A very expensive one for those that like to have a new phone more often than 2 years.

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[Mr. Toad]

1) If you are on the more everything plan you get a $15 discount on each line on edge. If you have 10gb of data the discount increases to $25.

Your payments will stop in 24 months when the phone is paid off.

2) I am not sure if you have to surrender a phone to go back into edge if you are out of contract. I know if you still have payments left or are going into edge while under contract you do.

I think edge is only a decent deal of you are on more everything and are getting the $25 discount.

Also unless you are selling an iPhone it will probably be hard to recoup 50 percent of the Msrp on a year old phone.

 

[DarkUncle]

Thanks for the response. However, on the first point it s something I read somewhere. That your payments will not decrease even after finishing off the phone payments.

The second point, while on an edge agreement if you are under 24 months and wanting to upgrade a device the contract states at least 75% of the phone value needs to have been paid. Also, the device under the edge agreement must be surrendered to enter into a new agreement. It's my understanding you cannot keep the device even if you pay it off completely and wish to enter into a new agreement with a new phone. The device has to be turned in.

I will have to contact a verizon rep to verify but that's how I'm reading it on their website.

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[Mr. Toad]

The payment on the plan won't decrease, but the phone will be paid off. So your bill will decrease by the amount of the edge payment.

Again I am not sure on the second point.

 

[diesteldorf]

If the phone is paid off, you can keep it and would be able to start a new edge agreement from scratch, without surrendering the device you recently paid off.

 

[DarkUncle]

If the phone is paid off, you can keep it and would be able to start a new edge agreement from scratch, without surrendering the device you recently paid off.

If that's the case then not so bad. However, I'm not so sure that's the case reading the specifics on their site. But again, I want to verify this from a verizon rep and will do so in chat form on the website so I have it in writing. Apparently, verizon reps can sometimes give different answers judging by others experiences on these boards.

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[sulla1965]

If you don't edge and end up completely paying off the phone. You keep the phone, you don;t have to trade it in if you want to start another edge agreement. You only trade in the old phone once at least 75% is paid off. It's not a phone rental plan, you actually buy the phone outright, but Verizon agrees to let you pay it off over time with 0% interest. Once you pay off %75 after 18 months of payments, you can edge up by returning your old phone for a new one, then start the whole process over.

 

[DarkUncle]

If you don't edge and end up completely paying off the phone. You keep the phone, you don;t have to trade it in if you want to start another edge agreement. You only trade in the old phone once at least 75% is paid off. It's not a phone rental plan, you actually buy the phone outright, but Verizon agrees to let you pay it off over time with 0% interest. Once you pay off %75 after 18 months of payments, you can edge up by returning your old phone for a new one, then start the whole process over.

I guess what I'm saying is if I want to edge up say after just 6 months in. I find it ridiculous to pay off 75% at that point and turn it in. Seems like a total waste of money. So I would instead pay the phone off in full to keep it and sell it on my own to recoup that money. Is this possible or do they actually require that I turn in the device as well if I want to edge up to another device? If that's the requirement then obviously I wouldn't pay it off 100%. But then that to me is such a waste of money to pay 75% of something and just give it to verizon.

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[Joe378]

I guess what I'm saying is if I want to edge up say after just 6 months in. I find it ridiculous to pay off 75% at that point and turn it in. Seems like a total waste of money. So I would instead pay the phone off in full to keep it and sell it on my own to recoup that money. Is this possible or do they actually require that I turn in the device as well if I want to edge up to another device? If that's the requirement then obviously I wouldn't pay it off 100%. But then that to me is such a waste of money to pay 75% of something and just give it to verizon.

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If you pay it off, you own it and can do whatever you want with it and would not have to trade it in if you edge again.

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[BlueBlazer60]

I guess what I'm saying is if I want to edge up say after just 6 months in. I find it ridiculous to pay off 75% at that point and turn it in. Seems like a total waste of money. So I would instead pay the phone off in full to keep it and sell it on my own to recoup that money. Is this possible or do they actually require that I turn in the device as well if I want to edge up to another device? If that's the requirement then obviously I wouldn't pay it off 100%. But then that to me is such a waste of money to pay 75% of something and just give it to verizon.

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Basic concept is the same as buying a car. You don't own it until you have paid the entire price. Then it is yours to do with as you please. But if you want to trade it in for a new model, Verizon gives you the remaining 25% of the cost of the phone and all of the money you saved from a 0% interest loan for the time you were on the plan. Verizon is in business to make money, not save you money. Edge is probably never a smart financial decision except if you are opposed to having a contract or locked into a contract. Edge is nothing more than a way to let us buy full retail price with a couple little things tossed in to make it look good. IMHO if you are going full retail, it is far better to scrap up the money for a no contract purchase. One less Starbucks for a month of work days is about $80 or dinner out with your significant other is probably $50 or up. Make money for yourself, not Verizon.

As much as I hate the two year contract purchase method, if you are qualify on Verizon when you do the numbers for most of us it is still the cheapest way to go. Often not by much, on a couple things I am looking at the difference is small enough I will probably cough up full retail to avoid wearing Verizon's chains for two years.

Everyone's financial situation is different, so do the math for your situation. Do what is best for you, not Verizon.

 

[Mr. Toad]

Basic concept is the same as buying a car. You don't own it until you have paid the entire price. Then it is yours to do with as you please. But if you want to trade it in for a new model, Verizon gives you the remaining 25% of the cost of the phone and all of the money you saved from a 0% interest loan for the time you were on the plan. Verizon is in business to make money, not save you money. Edge is probably never a smart financial decision except if you are opposed to having a contract or locked into a contract. Edge is nothing more than a way to let us buy full retail price with a couple little things tossed in to make it look good. IMHO if you are going full retail, it is far better to scrap up the money for a no contract purchase. One less Starbucks for a month of work days is about $80 or dinner out with your significant other is probably $50 or up. Make money for yourself, not Verizon.

As much as I hate the two year contract purchase method, if you are qualify on Verizon when you do the numbers for most of us it is still the cheapest way to go. Often not by much, on a couple things I am looking at the difference is small enough I will probably cough up full retail to avoid wearing Verizon's chains for two years.

Everyone's financial situation is different, so do the math for your situation. Do what is best for you, not Verizon.

On the old plans the edge is not a good deal. If someone is on the more everything with the $25 discount it can be cheaper.

Take the Moto X. On contract the phone is $50 or $99 when the sale ends.

On edge the phone is $20.83 plus sales tax. If you are on edge you are saving $100 (minus the tax) plus the initial cost of the device.

Edit

Quick math. Unless Verizon is doing a sale on upgrade phones Edge with the more everything $25 discount might be a better day.

IPhone 6 plus 128gb with edge and cost of line is $1,309.92 over 2 years. With an upgrade and cost of line it is $1,459.00 over 2 years.

Now if Verizon does something like the half off Sale again the iPhone would be cheaper on contract.

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[sulla1965]

I guess what I'm saying is if I want to edge up say after just 6 months in. I find it ridiculous to pay off 75% at that point and turn it in. Seems like a total waste of money. So I would instead pay the phone off in full to keep it and sell it on my own to recoup that money. Is this possible or do they actually require that I turn in the device as well if I want to edge up to another device? If that's the requirement then obviously I wouldn't pay it off 100%. But then that to me is such a waste of money to pay 75% of something and just give it to verizon.

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Unfortunately you can't. edge up early like that any longer. Originally you only had to pay off 50%, then they changed it to 60%, then to 75% So you'll have to pay up to 75% before you could edge. Or give 18 months of payments which adds up to 75%, then edge. 6 months earlier than if on a contract.

 

[BlueBlazer60]

I don't understand the math of your example but that is not critical. My point was everyone needs to do the math as it relates to their situation. Because everyone of us will have a different combination of factors. How many lines are on your more everything plan? How many of the phones are on the EDGE purchase or off contract (only those lines get the credit)? What level of shared data (do you get the $15 (old $10) or the $25 credit)? What is the cost of the phone on the various purchase method? These are some that come to mind. Based on one phone/one line - If you bought a Moto X today from the Verizon website assuming you made all the payments EDGE would (24 x 20.83) $499.92, full retail $499.99, and two year contract $99. Considering just purchase price you have spent $400 more on EDGE. Depending on your data plan you would get $360 ($15 x 24) or $600 ($25 x 24) line credit. After your line credit you are either $40 behind or $200 ahead. I left out sales tax because it would be less that $40 dollars in most all areas of the country.

If you have a large number of lines and 10GB of shared data or more, EDGE can work out well for you. Especially if you have more than one phone on EDGE or off contract to get the credits. That will maybe the typical family unit on here. But my SWAG is that the normal family unit would have 2 or three lines and less that 10GB of data. I could be very wrong in the SWAG but I feel comfortable with it.

After way to much typing I would come back to my point, everyone needs to do the math for their situation. And if there are two people in the room, there will probably be two different answers. If you are happy with your plan, I am happy for you. Happy Halloween.

On the old plans the edge is not a good deal. If someone is on the more everything with the $25 discount it can be cheaper.

Take the Moto X. On contract the phone is $50 or $99 when the sale ends.

On edge the phone is $20.83 plus sales tax. If you are on edge you are saving $100 (minus the tax) plus the initial cost of the device.

Edit

Quick math. Unless Verizon is doing a sale on upgrade phones Edge with the more everything $25 discount might be a better day.

IPhone 6 plus 128gb with edge and cost of line is $1,309.92 over 2 years. With an upgrade and cost of line it is $1,459.00 over 2 years.

Now if Verizon does something like the half off Sale again the iPhone would be cheaper on contract.

Sent from my Note 4 using Tapatalk.

 

[Mr. Toad]

I don't understand the math of your example but that is not critical. My point was everyone needs to do the math as it relates to their situation. Because everyone of us will have a different combination of factors. How many lines are on your more everything plan? How many of the phones are on the EDGE purchase or off contract (only those lines get the credit)? What level of shared data (do you get the $15 (old $10) or the $25 credit)? What is the cost of the phone on the various purchase method? These are some that come to mind. Based on one phone/one line - If you bought a Moto X today from the Verizon website assuming you made all the payments EDGE would (24 x 20.83) $499.92, full retail $499.99, and two year contract $99. Considering just purchase price you have spent $400 more on EDGE. Depending on your data plan you would get $360 ($15 x 24) or $600 ($25 x 24) line credit. After your line credit you are either $40 behind or $200 ahead. I left out sales tax because it would be less that $40 dollars in most all areas of the country.

If you have a large number of lines and 10GB of shared data or more, EDGE can work out well for you. Especially if you have more than one phone on EDGE or off contract to get the credits. That will maybe the typical family unit on here. But my SWAG is that the normal family unit would have 2 or three lines and less that 10GB of data. I could be very wrong in the SWAG but I feel comfortable with it.

After way to much typing I would come back to my point, everyone needs to do the math for their situation. And if there are two people in the room, there will probably be two different answers. If you are happy with your plan, I am happy for you. Happy Halloween.

First, I am not on edge. I am holding on to my unlimited plans with the $20 talk and text discount. For me edge is a terrible deal. So I agree everyone has to do their own math.

My math on the Moto X is the cost for the Line plus the phone. I am not including the data. This assumes 10 GB for the $25 discount.

On edge with data discount
$15 per month for the Line
$20.83 for the phone
24 months times ($15+$20.83) = $859.92

Same plan with subsidized phone
$40 for the Line
$99.99 for the phone
24 months times $40 = $960 + $99.99 = $1,059.99.

So it is $200.07 cheaper for a Moto X on edge.

If you had the $15 discount, you could add $240 for the edge cost. So edge would cost roughly $40 more then the subsidized phone.

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[DarkUncle]

I understand what you guys are all saying about costs. I'm looking at this strictly from the ability to upgrade side of this plan. It says on their website that while under an edge contract, if you choose to upgrade your device at least 75% of the cost of the phone must be paid AND the device must be turned in to thereby qualify for a new edge agreement with a different device. So even if I walked in and paid 100% of the device cost thinking I could keep the old device to sell on my own they could say "sorry you cannot enter into a new edge agreement while currently in an edge contract without also turning in your old device."

Perhaps I'm looking too much into this.

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[BlueBlazer60]

I understand what you guys are all saying about costs. I'm looking at this strictly from the ability to upgrade side of this plan. It says on their website that while under an edge contract, if you choose to upgrade your device at least 75% of the cost of the phone must be paid AND the device must be turned in to thereby qualify for a new edge agreement with a different device. So even if I walked in and paid 100% of the device cost thinking I could keep the old device to sell on my own they could say "sorry you cannot enter into a new edge agreement while currently in an edge contract without also turning in your old device."

Perhaps I'm looking too much into this.

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No you are not. Strictly from the upgrade point of view, you raise an interesting question. One I did not ask when I discussing the plan. At that time it was the 60% so the new changes to the plan might even make these answers out of date. Plan refers to EDGE plan not a contract in these comments. Q - Why should I take a plan instead of just paying full price? A - You can upgrade by trading in your device [I like to think of it as my phone. I have a lot of devices] at anytime after you have paid 60% of the price. (Not sure that is totally true under the revised plan). Q - After the plan is paid off (100%) do I still have to trade in the phone when I want to change. A - No, the phone is yours. Just as any other customer you can select a new Plan or a new Standard contract when you want to change. What I failed to ask was if you pay of 100% of the phone for an early upgrade before the 20 or 24 month time frame is the phone your property. The key question you have is does 100% payment end the plan or does it have to run for a certain time frame. If 100% payment ends the plan, then from what I was told you are just like any other customer and should not have to turn in your phone.

BUT SINCE THE PLAN WAS REVISED, you would be advised to go into a corporate store (maybe more than one). Ask your questions. Take names and document. Plus you can call customer. I have actually gotten some good answers if you break what you want to know down into a serious of simple questions.

And you don't have to answer this question because your situation is private. But if you are considering paying 100% because you want to keep the phone, why not just buy it instead dealing with any kind of relationship with VZW. The plan is nothing more than a 0% interest loan designed to be sure you are chained to VZW for a couple more years. That may or may not be benefit to you. I would suggest looking finding other sources of financing if all you are concerned about is being able to upgrade anytime.

 

[trucksmoveamerica#AC]

Here is something to think about.

Let's say you do stay on the edge for the full 24 months and pay the phone off. You are thinking the payment for the phone drops of your bill, but so will the discount your getting for having a certain amount of data on your account, think it's $25 and $15 a month. So if your payment for the phone was $35 a month and you were getting the $25 month discount per line your bill well actually go up $15 a month, since you have to have the data plan and edge payment plan to get the total pricing. At least this is how it was explained to me.

Now I know you might just edge up again, but will the discount still be as good or there yet is the question.

Imo, if your planning on keeping the phone for 2 years your better off just doing the 2 year contract, note 4 would be $300 with contract a lot cheaper then full retail over 2 years of payments. Edge was good for the ones that liked to upgrade yearly until Verizon screwed it up changing to 75% and 18 months.

I half way thought about going to the edge plan when it was 50%, and it really should be 50% since you turn the phone back in, but as usual Verizon is greedy. If you pay 75% of the phone you might as well just pay it all and keep the phone at that point.

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[DarkUncle]

Honestly I think my best bet is to enter into a new 2 year agreement and then switch to t-mobile next year when I need to add on another line for my other son. Get reimbursed for the ETF fee and get the 4 line family plan on t mobile. Verizon is rubbing me the wrong way and are just too damn expensive. I'm lucky enough to be in a full coverage area on t-mobile to have this option.

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[Mr. Toad]

Here is something to think about.

Let's say you do stay on the edge for the full 24 months and pay the phone off. You are thinking the payment for the phone drops of your bill, but so will the discount your getting for having a certain amount of data on your account, think it's $25 and $15 a month. So if your payment for the phone was $35 a month and you were getting the $25 month discount per line your bill well actually go up $15 a month, since you have to have the data plan and edge payment plan to get the total pricing. At least this is how it was explained to me.

Now I know you might just edge up again, but will the discount still be as good or there yet is the question.

Imo, if your planning on keeping the phone for 2 years your better off just doing the 2 year contract, note 4 would be $300 with contract a lot cheaper then full retail over 2 years of payments. Edge was good for the ones that liked to upgrade yearly until Verizon screwed it up changing to 75% and 18 months.

I half way thought about going to the edge plan when it was 50%, and it really should be 50% since you turn the phone back in, but as usual Verizon is greedy. If you pay 75% of the phone you might as well just pay it all and keep the phone at that point.

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The discount applies to the line when it is out of contract on the more everything plan. It will not go up the $25 or $15 depending on your data plan. If at the end of edge you decide to get a subsidized phone you will lose that discount.

Also on the more everything plan the Note 4 would be cheaper on edge with the $25 discount over 24 months.

Total cost on edge with $25 discount is $1,059.84. With the $15 discount it's $1,299.84. On contract it is $1,258.99.

So if you were only on a 10gb more everything plan edge would save you about $200 over the contract price. It would cost you about $4.16 more a month but you would not have to put up the initial $299.99.

That said I do not think the trade in is a good value.

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[trucksmoveamerica#AC]

The discount applies to the line when it is out of contract on the more everything plan. It will not go up the $25 or $15 depending on your data plan. If at the end of edge you decide to get a subsidized phone you will lose that discount.

Also on the more everything plan the Note 4 would be cheaper on edge with the $25 discount over 24 months.

Total cost on edge with $25 discount is $1,059.84. With the $15 discount it's $1,299.84. On contract it is $1,258.99.

So if you were only on a 10gb more everything plan edge would save you about $200 over the contract price. It would cost you about $4.16 more a month but you would not have to put up the initial $299.99.

That said I do not think the trade in is a good value.

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Ok, a rep explained it to me that you had to have a phone on the payment plan to get the discount. Go figure a rep told me wrong, lol.

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