Turn in my phone and walk away from Edge plan?

user1984983

I have just passed my 50% point in my edge agreement, and it was explained at the time that after this point, I can turn in my phone and get a new one (meaning they drop the remaining balance on my current phone when I turn it in to them). So, can I just give them back my phone now and stop service? Because I'm honestly not interested in getting a new phone through Verizon, especially through the Edge program they have now.

Accepted answers

Weth

No, you can't just pay off 50% turn in the phone and be done. That only works if you are getting a new phone. If you are just leaving, you must pay off the entire phone.

ON contract:

$300 phone, $40 upgrade fee, $15 more per month fir 24 months = $700 for phone

ON Edge:

IF same phone is $700 or less, you are ahead.

If you have 6 GB or more of data and get the $25 discount, Edge wins every time.

All comments

MiiHere

If you've met the requirements of your Edge contract and you want to give them your working phone, you'd then just start a new payment plan on a new phone and yes they would drop the remaining balance of the one you're turning in, but you'd still be making payments on the new phone.

You can't however just turn in your phone and consider your contract over. Your contract is over when you've paid the FULL balance of the edge contract. Then you are on a month to month and can cancel at anytime.

What is it you dislike about the Edge program now?

user1984983

Well, if I'm being honest, I would have to say that I'm not so much unhappy with the plan as I am unhappy with myself for signing up without really looking too closely at the fine print. I prefer to just pay the $200-$300 every two years. I went with the edge plan because my old phone broke and I needed a new working phone ASAP. When I walked in, the rep kept pushing the edge plan as a way to pay less and get a new phone every year. I had an inkling that there has to be a catch, but instead of looking into it and realizing that you end up paying more in the long run, I just said ok. Well, now that I am considering changing to another company, I have to decide if I want to just finish paying the price of the phone at once (meaning I have to pay $300 to leave Verizon and then go pay a new company $300 for a new phone with them) or just be stuck with Verizon for another year (and meaning that I paid $600 for a phone that I could have gotten for $200 if I had just paid up front and gotten a two year contract).

Either way, it feels like a loss, even if you include the $15/month discount from the Edge plan.

TL;DR I basically have buyer's remorse.

MiiHere

How much was your phone at full price?

Saving $15 for 2 years is $360 savings, which means if you bought a $500 phone you paid $140 for it. However if you bought an $800 phone you paid $440 for it. This is something they don't explain very well. It's a REALLY good deal if you have the 8GB + plans because you save $25 on the line access.

Weth

No, you can't just pay off 50% turn in the phone and be done. That only works if you are getting a new phone. If you are just leaving, you must pay off the entire phone.

ON contract:

$300 phone, $40 upgrade fee, $15 more per month fir 24 months = $700 for phone

ON Edge:

IF same phone is $700 or less, you are ahead.

If you have 6 GB or more of data and get the $25 discount, Edge wins every time.

MiiHere

I thought it was 8GB or more gets the $25 savings? While the 4GB - 6GB gets $15 savings?

Waimon

Ok this is what I was told is the latest with the Edge program. So with this in mind you might be able to turn in your or might depending on the value of the phone. When you want to upgrade your phone and the value of your phone is at what you still owe on the phone or less then you can turn in your phone pay what is left for that month or what you used and be done. But it all depends now on the value on the phone when you turn it in now. That is something you might not say is fair. Well if you think about it many phones are well worth it and you end up being able to change out phone more than you would waiting on a certain time frame. Just be sure when using the program get a good dependable that will keep its value. So no flip phones or blackberrys they do not keep value.

Weth

No, the cut off is between 4 and 6 GB. If you are on Edge or month to month, it rarely makes sense to be on 4GB since going to 6GB is a wash or additional savings if you have more than 1 line.

The MORE Everything Plan FAQs | Verizon Wireless

What's the monthly line access charge for a smartphone or basic phone if I sign up for Verizon Edge?

The monthly line access charge if you have a smartphone with Verizon Edge or are on a month-to-month agreement:

$25 if you have a MORE Everything Plan with a data allowance up to 4 GB. However, it will show up on your bill as a $40 charge with an offsetting $15 credit.
$15 if you have a MORE Everything Plan with a data allowance of 6 GB or higher. However, it will show up on your bill as a $40 charge with an offsetting $25 credit.

The monthly line access charge is $20 if you have a basic phone on the MORE Everything Plan. However, it will show up on your bill as a $30 charge with an offsetting $10 credit.

pherson

Of course they can turn in the phone and walk away. However there would be collections and tarnished credit. Real talk.