Verizon Note 4(White) to ship by 10/31

[Honey_184]

This new Edge plan sucks! I just signed my first Edge contract on 10/7 and it'll be the last... I can't see paying off 75% of the phone to give it back AND only have the option to upgrade every 18 months... The least they could've offered was something like what At&t offers, with Next 12 or Next 18. Unless something drastic happens in the next 12 months, (I won't hold my breath) I'll pay my phone off and switch to At&t. Tmo service is terrible around here and Sprint is even worse.

 

[ansa82]

Basically. You can't just turn it in after the required percentage is paid off. You upgrade with subsidized pricing and sign a 2 year contract or stick it out until it's fully paid off. That's why the biggest benefit of Edge was to turn in your phone after 12 months and get something new. They basically neutered the main appeal of the Edge program. They might as well rename it.

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Yeah that sucks! Are they changing it for everyone no matter when you signed up?

 

[anon(1733)]

Yeah that sucks! Are they changing it for everyone no matter when you signed up?

No out will only be for those after the date it goes into effect.

 

[DarkUncle]

I was debating moving my line to an edge plan from the standard two year contract. Now there really is not much of an advantage in doing that it would appear.

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[PraetorianGuard14]

Seems like Verizon is still clinging to the old regime of contracts...meh...should have gone with T-Mobile. At least the coverage will be excellent though.

 

[Honey_184]

I just got off the phone with VZW customer service to make sure my edge agreement wouldn't change since I signed it prior to the changes that went into effect today and they confirmed I'm good until I decide to "Edge up." That's when I'll either have to agree to the new terms or sign a contract to get reduced pricing... at least I have 1 yr before I decide. But here's the thing that got me.... the rep put me on hold to double check with his supervisor, and he comes back telling me, it's paying off the same amount on the phone before you can upgrade, but it's just stretching the payments out. I told him, you're reasoning makes no sense... How is paying off 60% (with the old Edge) the same as paying off 75%. As it was prior to today, I would be paying $420 before I can upgrade at 60% (of a $700 device) paid vs paying 75% which would make it $525 paid off before I could upgrade . He went silent!! He just kept repeating "well we're stretching out the payments which makes it more affordable since the payments would be lower".... Saving $5-6 per month doesn't make it attractive to me since I would still pay more. He then said, "well you could always make a down payment on the device so you could upgrade at 12 months with 75% paid!" Then he went on to blame the manufactures of the phones, saying they're the ones who want them to change it. BULLCACA!! He also said, all the plans with AT&T's Next program and Tmo's jump will be changing, and would probably even be done away with. I'll believe that when I see it! Ugh, I have ZERO complaints about VZW when it comes to the coverage but they're soo GREEDY!! The only bright side is, I won't have to worry about all this mess until the Note 5 comes out lol, hopefully they'll have changed it for the better by than.

EDITED TO ADD: I got a call back from the CS Rep, to remind me the $25 credit I receive per month since I have a 15GB plan wouldn't be changing. So right now instead of paying about $35 for the phone, I'm really only paying $10. If I decide to Edge up again under the new plan, the payments for a new phone (if priced at $700) would be $29ish, and I would still receive a $25 credit which would leave me paying about $4 per month for the device. But regardless of this or that credit, the bottom line is if we agree to the new terms, we have more to pay off before we qualify to Edge up.

 

[dpham00]

To be honest, I am not sure how VZW's new EDGE pricing is even a sustainable strategy. I was already on the fence about edging up after 1 year versus buying the phone outright, reselling it, and then starting new EDGE (hey, it is free financing at the very least). I convinced myself it is worth it only because I don't want to be bothered with the extra step. With the new EDGE, I will simply buy the phone outright and re-sell. For example, to buy a Note 4 outright after a year, it costs $350. You can easily recoup a large majority of that by re-selling, and then starting a new EDGE contract. I cannot imagine anyone will EDGE up after 18 months either, when new phone releases happen on an ANNUAL basis.

To be honest, it makes perfect sense. Verizon wants people to be locked in and upgrade every 2 years (whether on contract or edge). Sure you can upgrade at 18 months but most are on a 1 or 2 year cycle.



Sent from my Verizon Samsung Galaxy Note 3

 

[thatdarnpunk]

I agree that VZW wants people to stay on 2 year plans. But why on earth would I trade a phone in to VZW when I paid off 75% of it? I can pay the additional 25% and sell it on EBAY, no?

 

[PraetorianGuard14]

I agree that VZW wants people to stay on 2 year plans. But why on earth would I trade a phone in to VZW when I paid off 75% of it? I can pay the additional 25% and sell it on EBAY, no?

VZW is still trying to hold on to the old two year model when other carriers have recognized that consumers want more flexible options. Simple as that.

 

[dpham00]

I agree that VZW wants people to stay on 2 year plans. But why on earth would I trade a phone in to VZW when I paid off 75% of it? I can pay the additional 25% and sell it on EBAY, no?

You don't. Verizon wants to claim to have it as an option, so they can claim that you can upgrade early.

Sent from my LG G Pad 8.3

 

[Nakrohtap]

I agree that VZW wants people to stay on 2 year plans. But why on earth would I trade a phone in to VZW when I paid off 75% of it? I can pay the additional 25% and sell it on EBAY, no?

As long as you get over the balance owed on it. If you owe $175 and sell it for $200, then what? You have $200,but they are still billing you each month for your phone until it's paid off. You can't Edge up because you don't have the phone to turn in. You can't start a new two year contract on the same line with an open edge agreement and you can't pay more money to pay it off unless you are upgrading. To me, it sounds like the only options are to upgrade at 18 months or keep it the full term.

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[thatdarnpunk]

At end of year 1, buy out phone (end EDGE agreement), sell phone (hopefully make back whatever it costs to buy out the phone on EDGE). Then, start a new EDGE agreement. Am I missing something?

 

[Nakrohtap]

At end of year 1, buy out phone (end EDGE agreement), sell phone (hopefully make back whatever it costs to buy out the phone on EDGE). Then, start a new EDGE agreement. Am I missing something?

Maybe I'm missing something. I don't think you can buy it out unless you are upgrading. If you are, you need to turn in the phone. I am just guessing here. I didn't read the fine print. Not sure.

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[Preach2k]

I have to wait until the end of the month anyway to get mine. I do not want to the white one. I want the black charcoal version.

 

[Almeuit]

Maybe I'm missing something. I don't think you can buy it out unless you are upgrading. If you are, you need to turn in the phone. I am just guessing here. I didn't read the fine print. Not sure.

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EDGE for Verizon requires you to pay the monthly amount, pay a bulk sum to get you to the 75% to "edge up" , or pay in full. That is all you can do. Unlike T-Mobile where you can toss $200 or $70 or whatever at it randomly to get it down .. Verizon only lets you pay the monthly .. then pay to edge up or pay it off. Nothing extra.

 

[Honey_184]

EDGE for Verizon requires you to pay the monthly amount, pay a bulk sum to get you to the 75% to "edge up" , or pay in full. That is all you can do. Unlike T-Mobile where you can toss $200 or $70 or whatever at it randomly to get it down .. Verizon only lets you pay the monthly .. then pay to edge up or pay it off. Nothing extra.

With Verizon, you're right, u can't randomly add money to your balance.. However, you can put a down payment on it in the beginning to get it down faster.... But I still wouldn't do that, all this nonsense has me seriously considering switching to AT&T's next program when the time comes.

 

[sulla1965]

At end of year 1, buy out phone (end EDGE agreement), sell phone (hopefully make back whatever it costs to buy out the phone on EDGE). Then, start a new EDGE agreement. Am I missing something?

You can always buy out, and then sell the phone yourself. However if you want to start a new Edge, the new terms would apply. So this is the last time we can take advantage of the better terms.

 

[thatdarnpunk]

OK, let me try again with my logic. Tell me if this doesn't make sense. Here are the variables: Let's assume a Note phone always costs $700 on Day 1 and has a residual value of $300 at the end of the first year. Given VZW's current pricing, I will have paid off 60% of the phone by the end of the first year ($420). If I want to "buy out" of my EDGE contract, I pay Verizon $280. I then sell the phone for $300. I sign a new EDGE contract, and repeat this process each year. Total cost to me for "renting" the phone for the year is $700-$300=$400.

Under VZW's new plan, I will have paid 50% of the phone by the end of the first year ($350). If I want to "buy out" of my EDGE contract, I pay Verizon $350. I then sell the phone online for $300. I sign a new EDGE contract, and repeat this process each year. Total cost to me for "renting" the phone for the year is $700-$300=$400.

So, essentially, if you adopt this strategy, the two plans are equivalent. In fact, given a concept known as "time value of money" (i.e., a dollar today is worth more than a dollar tomorrow), you are theoretically better off under VZW's new strategy. You save $70 over the course of the year ($420 - $350). Although you have to pay that eventually, you can take that $70 and invest for the year (theoretically).

 

[dpham00]

One of the benefits of edge was that you don't have to deal with selling the phone yourself. That is why a lot of people trade in. If you are willing to do so then edge would just be a device payment plan with 0 interest. Which is fine, so long as you are willing to sell the phone yourself

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