How much will an upgrade end up costing?

I have an iPhone 4 on a plan with my parents, and I'm (finally) due for an upgrade this week. We're not in the best spot for money and my mom is worried that upgrading will increase the monthly fee (we have the More Everything plan). I have no idea how it works and how upgrading to either the iPhone 6 or waiting for the 6s/7 (haven't decided if I'm going to wait for it) will affect the bill and I don't want her to have to pay more per month. Thankfully I have some money of my own now and can buy the phone outright by myself, but am not sure whether I would be better off upgrading through Verizon or going through another website like Craigslist. Supposedly the upgrade would offset the cost but I've heard that even with that, I might be better off still going with a 3rd party.

So, should I upgrade with Verizon or seek out a better deal elsewhere? If the former, what are the payment options and will they increase the monthly bill? And as an aside, any idea on how the cost of the 6s/7 when released will compare to the current costs of the 6?

Accepted answers

Snn5

I'm sure someone else will come into this with the math, but contracts always cost more. Contracts require a $40 upgrade fee and the monthly access is $40 a month. The new Plans may or may not cost more compared to what you pay currently price/data-wise, BUT, device payment plans take the cost of the phone and divide up into 24 payments (tax is paid upfront) and monthly access is $20 per line. Upgrades require a plan change anyway, so you automatically pay $20 more a month right there PLUS the upgrade fee. If you get onto a DPP you save $40 upgrade and $20 a month. See, you pay for that reduced cost phone either way, so its a matter of paying less up front (for the phone) and more a month (line access) or paying less a month and making a phone payment. In the end you have to do the math current vs proposed. Usually, non-contract service is the way to go to save more money at the end of 24 months. Also, you can pay that new phone off anytime you want, but a contract is 2 years, no less. You can also sell that old phone to recoup costs, and by the same token, you can buy that phone elsewhere cheaper and still get the new plan without the DPP cost.

All comments

Snn5

Verizon_Support

dryeck, making sure you have all the options and info on hand to make the best choice for you and your family is very important. Snn5 provided excellent info on the Verizon Plan pricing, and how it works with the Device Payment Plan.

I just want to add in that if you are currently on More Everything, you do not have to change your plan to the Verizon Plan, if you choose to go with the Device Payment Plan.

It is possible to buy your phone using DPP, and staying with More Everything.

Use this link to learn more about how the Device Payment plan works together with the More Everything plan.

http://www.verizonwireless.com/support/device-payment-faqs/

Let us know all know if you have additional questions. We are all here to help out.

NicandroN_VZW
Follow us on Twitter @VZWSupport
If my response answered your question please click the "Correct Answer" button under my response. This ensures others can benefit from our conversation. Thanks in advance for your help with this!!

Momma23dogs

From the practical point of view....not made of money...buying a $649-849 phone is not responsible.

There are many lower cost options, including phones that are $200 at full retail.

I purchased 3 phones from eBay for about $200 each. Including an iPhone 5 for my son for $194.

SO if you saved $200 for a dog payment on a new iPhone, spend it carefully somewhere else so your bill stays the same.