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Do I get my Trade-in credits if upgrade in a year?
JODMAC84
Member

Recently upgraded my 6s+ during the $20/mo (128g) promo and also added my device trade-in (got $280 for my 6s+ 64g).  The better camera is always my weakness, and I am guessing the 8 will also tempt me with a better camera.  So ... I'm thinking.  If I upgrade after 1 year to the 8, will I actually only get 1/2 of that trade-in?  Because don't the credits all stop if I trade in?  And since they don't even start for 2-3 months, would I then only really get $105-$117 for my iPhone 6s+ 64g!?  That's crazy and if that is the case, I will just keep it and either sell it or save it to replace my daughter's iPod Touch that is 4 years old now.  Thanks!

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Re: Trade-in credits if upgrade in a year?
vzw_customer_support
Customer Support

That's a great question JODMAC84, and you've come to the right place for answers. I know how important it is to receive the full trade-in amount. Let me clarify how this works.


With the trade-in promotion you receive the promotional trade-in amount in monthly installments. They are applied on the 3rd bill after it has been processed. On the 3rd bill you receive the credit for the first 2 months and the 3rd month. You will continue to receive the monthly credits for 24 months. If you upgrade or pay off your device payment plan early you will stop receiving the monthly credits.


I trust this has fully addressed your concern. Keep us posted if you need further assistance.



JohnB_VZW

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Re: Trade-in credits if upgrade in a year?
Weth
Sr. Leader

You will get extra credits when they start to catch up, so the credits will match the number of months.  However, if you switch in a year, you will lose half your credits. 

Re: Trade-in credits if upgrade in a year?
vzw_customer_support
Customer Support

That's a great question JODMAC84, and you've come to the right place for answers. I know how important it is to receive the full trade-in amount. Let me clarify how this works.


With the trade-in promotion you receive the promotional trade-in amount in monthly installments. They are applied on the 3rd bill after it has been processed. On the 3rd bill you receive the credit for the first 2 months and the 3rd month. You will continue to receive the monthly credits for 24 months. If you upgrade or pay off your device payment plan early you will stop receiving the monthly credits.


I trust this has fully addressed your concern. Keep us posted if you need further assistance.



JohnB_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!!

Re: Trade-in credits if upgrade in a year?
fantom789
Member

I'd like to clarify this. Say I purchase a $720 phone and have a $480 trade in both paid over 24 months.

Each month I pay $30 toward the phone but also get $20 trade in value. So I only pay $10 per month difference (plus the phone plan of course).

After 12 months, if I want to upgrade and fully pay off my phone, what amount remains owed?

I'd expect that I had paid $30 x 12 = $360 toward the phone and therefore owe a remaining $360.

This would also end my trade in credit, meaning I received half the trade in value.

 

Is this accurate? Or does Verizon only apply the difference toward the new phone. Meaning only $10 per month. In which case $600 would still be owed on the $720 phone after 1 year. I'd hope not, but want to confirm.

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Re: Trade-in credits if upgrade in a year?
vzw_customer_support
Customer Support

You're correct, fantom789. You'll see more the credit stop half way through if you for example traded in or upgraded that line. To get the full 2nd year of the promotion, you'd have to still have that installment agreement going. If you stop half way, the second half of the credits ($240 in your example) would be lost. - Henry

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