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With T-Mobile sending a few waves through the wireless world last week with the launch of T-Mobile JUMP!, it looks like the company is forcing a few of its competitors to step their game up — even if only by a little bit. AT&T has some announcements coming tomorrow, and now Verizon has been tipped to be bringing some changes of its own.
Droid-Life has received word of “VZ Edge,” a new option for those using Verizon’s device installment plans to get new phones. VZ Edge will reportedly allow users to buy a new smartphone using Verizon’s monthly installment option as long as at least 50% of the previous device is paid off.
Using hypothetical prices, if you were to put $200 down on a $600 smartphone, you’d only need to pay $100 of it off before you’re allowed to buy another device in this matter. On a 12-month cycle, that means you’d only need to make three months’ worth of installments ($33.33) before you can use the plan to get your next phone. We’re not sure how often Verizon would allow you to do this in a calendar year, but that’s the gist of it.
It’s said that the plans will be ready to launch beginning August 25th, which is only a short month and some change from now. Unfortunately this means nothing for those who prefer to get their devices the old fashioned way, but we imagine those who find themselves itching for the latest smartphones and tablets would love to take advantage of this going forward. Now we’re just waiting on AT&T to show its next play in what has become a very interesting poker game between the nation’s carriers.
Competition is between the carriers is always good for the customers.
It would be interesting to see just how much the Big Red can screw us over with this one. But the best coverage comes with a pricetag. Also, since VZW can’t seem to get the newest phones right away, this could be a problem. They are going to have to step up their game on that. Wasn’t the SGS4 out for a few weeks before VZW got it? How long has the HTC One been out? What about the other variants of the SGS4 and the HTC One? In order to keep up to T-Mo on the plans, they have to keep up with them on the phones.
I’ve been doing a lot of traveling recently and there’s only one place where T-Mobile has not had service and that was on top of a mountain where only maybe 100-200 people live.
Interesting, I don’t know of anybody in my area that has T-Mo. It’s either US Cell or VZW.
Are they at least going to remove the subsidized device cost from their contracts or are we still going to pay for 2 devices like we are doing currently for upgrading early?
I’d rather they just bring the 1 year contracts back. Like the rest of you here, I’m a phone junkie, but with every new phone comes the time of setting it up precisely as you want it… And as new apps and/or updates come out, the phone setup requires a little tweaking and modification. That being said, I wouldn’t WANT to be changing out my phone every 3 or even 6 months! But 2 years is kinda long. For a $600 phone, I’d rather pay $350-$400 all at once for a 1 year contract instead of paying $600 over the course of that same year or $200 for 2 year contract. Anyway, my 2 cents…
I think t-mobile’s idea is the best, no contracts so you can switch plans whenever you want and for 10 dollars more on top of your device payments you get device insurance and switch your device every 6 months, Verizons is about 70$ more depending on which phone you get and that’s on top of your normal contract which also has a built in subsidized phone fee. That they aren’t removing.
Thank you tmobile
I’ll lose my unlimited…. Screw them.
I wonder if that will actually happen with this. Considering it says No Service Contract, it’s seemingly just paying “retail” but with a twist. I guess we’ll see soon in the fine print.
There is a way for you to keep it. Even if you upgrade.
And then once you’re ready to upgrade hopefully you don’t mind waiting a bit longer for them to get a flagship device.
I’ll keep my note 2 for 2 years if they’ll give my unlimited data back.
1. Buy phone off contact
2. Use until bored
3. Lust after new phone
4. Sell current phone
5. Profit
6. Buy new phone off contract using profit
7. Repeat
8. Profit 2.0
‘Cept, buy new phone comes BEFORE sell current phone, otherwise you’re phone-less for a while.
just waiting to hear about the monthly financing fee
I love the “It’s about staying ahead” tagline. Yet, they’re just playing catchup to Tmobile. :facepalm
The thing is Tmobile is offering discounted plans in exchange for paying full price for a phone.
If Verizon is expecting people to pay the same gouged price plans that people sign up for to get a device subsidy AND pay full price for a phone then this is just asanine.
you can do this as often as you please after you’ve paid off the first 100 of the current phone (you still have to pay the rest off though) so if your upgrading every 3 months (after 200 down and 100 in payments) your going to be paying for a few phones your not using anymore haha