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Pros of Device Payment Plan
jbeckwith17
Member

Hi guys,

I'm trying to figure out what the advantages are of switching to the device payment plan. I still do 2 yrs contracts so my line access fee is $40. If I upgrade and go to a device payment plan, the $20 for the line access and $40 for the monthly phone charge would put me at $60. I know I could see savings after I pay off the phone, but I'm always going to upgrade when the time comes so there's not going to be a point where I have an upgrade but don't use it, so I'll never see those savings. Is there something I'm missing when it comes to pros of doing the device payment plan?

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Re: Pros of Device Payment Plan
Ann154
MVP MVP
MVP

Only one or two phone models cost $40 per month for device payment agreement. The iPhone 256 GB would likely be $500-600 on contract and it is $969.99 for full retail price.

Two year contract

$500 or 600 upfront

$40 x 24 = $960

Total =$1460 or 1560

Device Payment

$969.99 ÷ 24 = $40.41 per month

$20 x 24 = $480

Total = $1450

Either it is a wash or more expensive to purchase as a contract.

I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.

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Re: Pros of Device Payment Plan
SuzyQ
Sr. Leader
Sr. Leader

Not to mention that contracts are no longer available.  Device payment plan or purchase outright are your options now.

Re: Pros of Device Payment Plan
jbeckwith17
Member

Since I'm an existing customer, I can still do 2 yr contracts.

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Re: Pros of Device Payment Plan
SuzyQ
Sr. Leader
Sr. Leader

No, that changed recently.  What plan are you on?  The newer plans do not include contract pricing for upgrades.

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Re: Pros of Device Payment Plan
jbeckwith17
Member

I'm on the More Everything plan.

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Re: Pros of Device Payment Plan
mama23dogs
Sr. Leader

Verizon Ends Subsidized Phone Deals for Existing Customers | Fortune.com

Verizon ended contracts for existing customers in January.   If you try to upgrade, you will see your options.  Unless you have a special account (corporate or business relationship ) you will not have a contract option.

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Re: Pros of Device Payment Plan
vzw_customer_support
Customer Support

An important factor to know which plan is best for you is which More Everything plan you are on.  As upgrading with 2 year agreements is no longer an option, if you have the 6GB or higher More Everything plan, you get a better discount on your line access charge with it, $25.  On a smaller plan the discount is only $15.

NoahS_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!

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Re: Pros of Device Payment Plan
TeamEither
Member

I know this is an old post but you also want to keep in mind of the monthly promotional discounts. Example:

 

Line access on old plan: 40

Total: 40

or

Line access on new plan: 20

+

Random device payment on new plan: 25

-

Random promotional device credit at the time: 20

Total: 25

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