So I haven't really seen a clear answer for this question. None of the phones currently out come close to the note 7. If we were to exchange(downgrade) to a current phone that Verizon offers. Do we have the option of upgrading without penalty to a different phone?
We certainly want to make this process as easy as possible on you with the right options for your needs. If exchange the Note 7 for a different model now the new 2 year contract or Device Payment Agreement conditions will be in place. I apologize as we would be unable to offer another exchange at a later time. What features interest you the most in a new phone?
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So, hypothetically, I trade my Note 7 in for an iPhone 7. I don't like the iPhone, and I'm still within my 14 days, can I return/exchange the new iPhone for another phone (for free)? Or would that incur restocking fees & etc.?
You would more than likely have to pay the restocking fee. I believe it occurs no matter if you are returning for a different device, or exchanging for the same device. You'd also have to pay the activation fee if it applies (I read mixed comments about activation fees not applying when you order online, but haven't confirmed.)