Device Payment Plan Questions / Issues

I purchased a Galaxy S4 a few days ago (I won't even get into all of the issues I had being able to, from stores straight up lying that there was no such thing as a Device Payment Plan, to being told that they wouldn't sell me the device, unless I was adding a new line).

Anyhow, when I got it, I paid 160.00 down (to go towards the overall cost of the device, and to lower the monthly payments). I also got an Otter Box case, so my total bill came out to around 250.00 or so (this, I guess also included the first payment of 42.00 and change, so in the end, I paid 202 or so, towards the device in whole).

Now, a few days later, I'm trying to find out HOW I can pay towards it -- What I would like to do (and I've had a few associates tell me that this is possible) is go to a store (since apparently you can only pay towards this plan in store, if you want to pay towards the device at least), and pay 200.00 towards the amount I presently owe (around 480.00).

Several reps have told me that I can do this, others have told me that I only have two options:

1 - Continue to pay the 42.00 and change for the next 11 months, til it's paid off

2 - Go to the store, and get the payoff amount (as of today it's 480.00) and pay that all at once.

Yet the Verizon website alludes to the fact that you can pay it off faster if you want (it does not say that you HAVE to pay it all at once to achieve this), and nobody seems to know what the real answer is -- I know it's a new thing for Verizon, but seriously, they should have some idea how it works, etc.

To me, it should be as simple as going in and saying that a payment in $X is being made towards the device payment portion of one's account, thus lowering the total amount that's still due.

Yes, I've spoken with reps on Twitter, Verizon's "chat option" on the website, and on the phone, as well as reps in several stores. I can't get the same answer from any of them. Some tell me I can pay it all, or pay the monthly fees. Others tell me I can pay the monthly, or go to the store and pay more than the monthly OR pay it off entirely.

Ultimately, I do not want to pay MORE, with the intent of it going towards the phone, and instead it end up going towards my actual bill for services. I had the extra money on hand now (I didn't when I got the phone, or I'd have paid that then as well), and figured it wouldn't be that hard -- I mean T-Mobile allows you to pay more if you want to, on their device payment deal, so why can't Verizon?

I'm hoping someone else who has used this plan can shed some more insight (maybe someone who has tried, or has been able to pay towards their device, since getting it, more than the required monthly amount, and not have that amount apply towards their service, but to the PHONE), or someone who is/has gotten the same different stories that I have.

Thanks.

Accepted answers

crelin

You can't. You can pay the monthly installments along with the bill or pay off the remaining balance of the device. Those are your two options.

All comments

unknown

This is a new plan and many of the stores hardly even know about it. Nobody lied to you, but they may have been mistaken. I have no idea if the plan is set up to allow unscheduled payment amounts or not, and I doubt many Verizon employees even know. If it was me, I would put my money in my savings account or money market account and just make the scheduled payments until/unless someone figures out how to do it differently. The interest is only $2 per month, so it's not enough to get upset over.

boxermansr

Oh well, I tried to edit my post to add something else I remembered being told, but it wouldn't let me..

Anyhow, when talking to CS today, I was told that while my payoff amount is 480.00, if I continue to pay the 42.00 or whatever my payment is for the next 11 months, that each month I carry a balance on the device, I will be taxed on that amount.

Example; I owe 480 now, I pay the 42.00 or whatever when my bill is cut (included in my regular monthly bill), that takes me down to 438.00 owed - next bill gets cut, and I get taxed on the 438.00, which then takes me back up to.. lets say 450.00 (since I don't feel like figuring out the taxes). I pay the 42.00 again, takes me to 408.00, next bill comes, taxed on the 408.00 and on and on - I asked the rep if this was how it works, and they told me yes, that as long as I carried that balance, that amount was taxable.

I called a store, and asked them, and they told me no, they said I was taxed when I purchased the device, and that I won't be each month (at least on the device payment portion of the bill).

In the end, I can't seem to get the same answer twice. I just with Verizon could make this easy, but ultimately I guess that's just not their way of thinking. If in fact they can tax the amount every month, I'd have been better off just buying the phone outright, as in the end, I'll pay at least 100.00 + in taxes over the course of 11 months (if I did in fact plan to not pay it off earlier).

boxermansr

Oh, I know it's new, so I understand that yes, there will be different answers given, to me however, it just seems it wouldn't be that hard for them to allow customers to make larger than the required payment (thus shortening the term, or lowering the remaining monthly payments). I can easily put the money in an account, but I'd prefer to just get it paid off sooner, than later, and to me, paying a larger amount than the regular required monthly amount made sense.

I don't feel that I was lied to either (aside from being told the program didn't exist, which again likely ties into associates just not being aware of the program), I just feel that the information is not being provided to reps in an effective manner; I realize this happens in many companies, but I was more seeking to see if anyone else was experiencing the same thing, had been given similar information, etc.

And yes, it's 2.00 a month, so I'm not sweating that. I just figured, again, it'd make more sense for them to allow people to pay more, if they so desired.

unknown

That's totally false. You pay sales tax to your state on the total purchase price. I don't know if you pay it all up front or monthly, but I think you pay it all upfront. That's not a Verizon decision, but state law. How could anyone possibly believe you pay sales tax every month on the unpaid balance. That makes no sense at all.

boxermansr

That's what I figured. I know I paid the sales tax up front, as it was on the receipt. Again, just ties into some associates not having the correct information, I place no fault on them for that. I didn't believe it, which was why I called a local store and asked them, but again, one never knows for sure -- as someone who had Sprint years ago, those folks tried every sneaky thing in the book to bilk money out of customers, so it wouldn't entirely surprise me, if Verizon tried to do the same (though their service, etc has been tremendous in the years I've had it).

unknown

It only makes sense if that's how the program is set up. On the other hand, that introduces all kinds of record keeping requirements and possible customer disputes, etc. Verizon is not a bank and not in the financing business prior to this new plan. It seems like everytime Verizon tries to do something to help their customers, they get flak because someone doesn't like the way they did it. This plan clearly helps a lot of people purchase phones they might not otherwise be able to afford.

unknown

I guess another thing you might keep in mind is that some of the store reps and customer service people are not very knowledgeable about financial issues such as this. I suppose they require a high school education, but that might not mean much anymore. I think most of them try to do the best they can, but sometimes they just don't know or understand through no fault of their own. Evidently, training is not a high priority and these are not high paid jobs.

Verizon_Support

Hello boxermansr,

I am so sorry for the confusion, with this being a new great program we are offering to our customers. You can pay the device off at a Verizon Wireless retail location or over the phone with a credit card by speaking directly to one of our Customer Service team members. You can find great information about the device payment plan here at http://vz.to/18DUjcq.

WarrenM_VZWSupport

Follow us on Twitter @VZWSupport

jbscroggins

So how can we make a partial payment towards our device payment plan?

crelin

You can't. You can pay the monthly installments along with the bill or pay off the remaining balance of the device. Those are your two options.

B33

Another Option you have: Is Service Billing..

When i get my Devices I always use if "available" Service billing) I wait after the bill Cycles and then get the Device I pay part of it and since I waited past the Cycle it would give me two months to pay the Rest off) Say like if got the Moto X on 31 Aug. or 1 of Sept. by doing that it would give me till Oct. to pay it off.. You might check and see if the they allow service billing in your Area and if works for ya give it a Try I think they allow up $400 maybe $475 but a check with your Local store will tell ya more.. b33