Summary: A number of verizon employees are tricking customers into thinking that with verizon edge they only make payments on their new phone for a year. The overall price (of 12 monthly payments) is not much higher than purchasing the phone outright, and with the perk of being able to (supposedly) upgrade your phone after just a year, many people are falling for it. However, the Verizon edge payments are for 24 months and you wind up paying the pre-plan price for a phone (about $600 for a new iphone as opposed to the regular $200-ish you pay when you purchase a phone with your upgrade).
I am very frustrated with the West Acres mall Fargo, ND Verizon store. I went in last year around January because I was due for an upgrade. I have always just purchased a completely new phone and have been perfectly content upgrading that way.
This time around, I was talked into getting Verizon Edge for almost an hour by the sales rep. The only point of interest was that I could upgrade my phone after just one year with Verizon edge. I asked a million questions. What is the difference in cost? He showed me the monthly price for Verizon edge and it seemed very reasonable. How long do I make these payments? I was told that I make these payments for a year, after which time I was eligible to upgrade. After doing calculations it was apparent that one year of payments for verizon edge was only a bit more expensive than buying a new phone. The ability to 'upgrade' at the end of year was enticing enough that I gave in and signed up for Verizon Edge. I have now concluded that I was lied to, and that employees who get people to sign up for Verizon Edge must get some sort of commission.
Recently, my new husband and I decided we wanted to change my plan to a family plan, and add him to it. We had meant to make that change earlier, but kept forgetting. When his phone broke this Tuesday, we decided that we would just get our family plan done as I should have be eligible for an upgrade, having had my verizon edge for over a year. I would then take my husband's upgrade 6 weeks later. When I went to look at my upgrade, I realize that I cannot claim my upgrade without paying off a remaining balance. That was confusing. What remaining balance? I've paid Verizon edge for a year already!
I should have paid more attention to my bill. I actuality, I have a remaining 9 months of payments remaining before I am truly eligible for an upgrade. This is when I realized that I'm actually paying $600 over 24 months for my phone (just the phone, no plan - no extras). This is pretty irritating, considering that when I entered Verizon I was ready to simply purchase a new phone for $200.
After scouring the forums, I can see that this has happened to a number of other customers - not just myself.
I'm not sure how people are being tricked unless they fail to read the info before agreeing. The info is readily available. I am aware of the process and I have not spoken to a rep nor have I had any interest or intent in using that method. I've seen the info on VZW's website and in emails I've received. I think it's a little naive to believe any of these carriers are giving 1 year to pay off the subsidized price and not be in a contract versus having you get the subsidized price in exchange for signing a new contract. If it were that simple most people (outside of those still with an unlimited data plan) would never pay more up front if they can get a year to pay the same amount.
Not trying to be mean or anything by saying this. But customers have to be responsible to actually looking at the details BEFORE they agree anything. Not just rely on what someone says. If you're putting your signature on anything you should read the materials before doing so. If you can't be bothered to do so then yes, you will easily and often find yourself duped.
I completely agree that I should have read the details. That responsibility falls on me. Completely agreed. However, that does not detract from the fact that a number of customers are being lied to by Verizon employees eager to get people on Verizon edge. Enough people have been provided with misinformation for to think this is an issue Verizon should be addressing.
Re. the subsidized price, 1 year of edge payments for a phone is still more expensive than simply paying for the phone outright. For. example, I bought a new iphone. Paying for it directly would cost $200. In one year of edge I have paid $300. I was aware of this cost and thought $100 extra a year with Edge was worth it for the yearly upgrade. I was unaware of the $600 price tag attached to the phone. I would not have thought that made any sense at all.
The point of this is not say that verizon is actively seeking to harm it's customers, but to warn other Verizon customers that Edge may not be what the customer rep.s are claiming it is. Unfortunately, in today's world a lot of people ignore the fine print or all the details on a contract when we feel we've received honest information. (Heck, if I read every contract attached to a computer update, or app update I could make reading the 'fine print' my full-time job). My aim is to draw people's attention to Edge, and remind them read the fine print so they don't wind up disappointed like I am.
Since the edge program claims to finance the phone with no interest that is technically about right. Buying it outright would be paying full retail, not paying the subsidized 2 year contract agreement price. I think that's part of the confusion. It seems like a lot of people don't realize they are agreeing to pay full retail over time instead of paying full retail up front. I pay full retail for my phones because I have to in order to keep my unlimited. For me, it's been an equal deal to finance with Best Buy at no interest without the hassle of VZW's edge but I kind of get why people may choose the program. And yes, I get that for whatever reason some people aren't understanding what they signed up for. But, sales reps that work off of commission may leave out some key details to get the sale. It's not right but it's why I'm an advocate for making sure before you agree.
I was looking at switching my family to the Verizon Edge plan but I'm not sure if I will but this is how I see it. Pease correct me if I'm wrong, because nothing burns me more than throwing money away.
If I choose to do the Verizon Edge for a family of 4 buy the new iPhone 6's
$145 a month for the plan with 8G of data and $110 a month for the phones for 2 years will = $6120. (Disgusting)
With the Everything Plan
$245 a month for the plan with 8G of data (4 phones at $40 each and $85 for data) for 2 years = $5880. + the initial purchase of the phones(discounted price with 2 year subscription) at $240. x4 = $960
so total cost is $5880 + $960 = $6840 (Even more Disgusting)
So as I see it with those calculations the Everything plan ends up being more in the long run after the 2 year time period... no??
What am I not getting. Can someone explain what I can't see. Like I said I hate giving away money.
First of all, with either scenario, you are on the More Everything plan.
Verizon Edge is simply a way to purchase a phone. It has nothing to do with your service.
With your calculations, it looks like purchasing the phones with Edge is the better option.