How Will I Receive My Credits After Trading in My Iphone 6S+ for the Iphone 12 Pro Max

[harrisonk]

Today (12/16) I had bought an Iphone 12 Pro Max and turned in my previous Iphone 6s+ for a total credit of 579.99. They said that this credit will be given per month over the next 24 months.

I made a down payment of the remaining balance in store ($1110(price of the phone) subtracted by $530(amount I downpayed)).

Does this mean there will be no changes made on my bill (as in no increased bill amount) or will there be an increased amount on my monthly bill because of my new phone purchase but will be cancelled out with the credit I receive per month?

[vzw_customer_support]

harrisonk,

We want to make sure you save everything you are supposed to when getting a new phone. That's always a big deal. The way the monthly credit applies is that it does go directly against the monthly phone payment. So for example if you get a $579.99 credit, that comes out to a $24.16 credit each month for 24 months. If you paid $530.00 on an $1110.00 phone, that leaves $580.00, so these would more or less cancel out and have your bill not go up. 

AndrewT_VZW