Skip to main content
Accessibility Resource Center Skip to main content
Have a phone you love? Get up to $500 when you bring your phone.
Showing results for 
Search instead for 
Did you mean: 
How does the annual IPHONE upgrade work EXaCTLY...

It is unclear to me if the balance on my current Iphone goes over to the new Iphone or if it is forgiven, pay the upgrade amount and move over  or what?  Here is what I get when I ask: 

So do I pay the $95.74 and the $670.74 magically goes away OR do I end up owing Verizon over 2k for phones.  If it is the latter?  I will have the 10 forever.  Just saying.   (I am however falling in love with my work phone which is a Samsung Galaxy 8...  Amazing user friendly phone).  Thanks 

Labels (1)
Re: How does the annual IPHONE upgrade work EXaCTLY...

This can definitely be confusing!

  • If you pay $95.74 to upgrade early, you would trade in your device (in good working condition) to pay off the remaining balance. As long as you meet these requirements, you would not be billed for the remainder.
  • If you pay $670.74, you will complete your purchase and the phone would then belong to you to do with as you wish.
  • If you buy the new phone at retail, you can activate the new one for use while still paying off your existing phone via payments on your bill.
Re: How does the annual IPHONE upgrade work EXaCTLY...
Customer Support

It's important you know all options available when upgrading to a new phone, Spiritedred. Your iPhone does allow you to upgrade early once you have paid off 50% of the phone. The $95.74 pay off would reach you to 50% paid off and allows you to upgrade early and return your current device in good working condition to get a new phone. If you pay the remaining $670.74, you will own the phone and would not have to return the phone to get a new device payment. Buying at full retail, will allow you to continue your current device payment and pay for a new phone at full retail. 


Paying the $95.74 will only remove the $670.74 with the return of your device in good working condition with the purchase of a new device payment. You can learn more here,


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!!