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Pay extra
bypass97
Member

Just got the Note 10+, what I would like to know is how can I pay extra on my bill and that extra money would go to what I owe on the phone so I can basically pay off the phone in 6 or 7 months instead of 24. I would what the extra payment money to go directly for the cost of the phone and nothing else.

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Re: Pay extra
glitchedpixel
Sr. Member

@bypass97 wrote:

Just got the Note 10+, what I would like to know is how can I pay extra on my bill and that extra money would go to what I owe on the phone so I can basically pay off the phone in 6 or 7 months instead of 24. I would what the extra payment money to go directly for the cost of the phone and nothing else.


Can't do that. Verizon doesn't offer refinancing. If you didn't do a down payment at the start of your agreement, there is no way to pay less monthly outside of a promotion.

 

Re: Pay extra
rcschnoor
Sr. Leader
Sr. Leader

Verizon doesn't allow you to prepay unless you pay off the entire outstanding balance. What you could do is to set aside an amount each month and when you have enough built up to pay off the entire balance, you could do so. This would give you the added benefit of acruing interest while you are waiting to pay off the balance.

Next time you want to finance a Samsung phone with flexible payment options, you may want to check into purchasing direct from Samsung. Possibly they will allow  you to do what you are asking.

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Re: Pay extra
bypass97
Member

So, if I take what is said on my device page, 24 payments at $--.-- and mutiply it and come up with $--.-- and save the money and pay that it let say 7 months, I should be able to do that?

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Re: Pay extra
vzw_customer_support
Customer Support

The only time that you can put money down on a device payment to lower the monthly cost of the device is at the time of purchase. -BrittanyC_VZW

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Re: Pay extra
Ann154
Expert
Expert

@bypass97 wrote:

Just got the Note 10+, what I would like to know is how can I pay extra on my bill and that extra money would go to what I owe on the phone so I can basically pay off the phone in 6 or 7 months instead of 24. I would what the extra payment money to go directly for the cost of the phone and nothing else.


In addition to what has been posted by the other community members, if you had purchased this phone with a promotion like $300 off or a BOGO you lose any unapplied bill credits if you pay off the device payment agreement balance early. 

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: Pay extra
rcschnoor
Sr. Leader
Sr. Leader

@bypass97 wrote:

So, if I take what is said on my device page, 24 payments at $--.-- and mutiply it and come up with $--.-- and save the money and pay that it let say 7 months, I should be able to do that?


That is correct. If you have 24 payments of say $20 and make 7 months of payments or $140 but you also had saved up $340(17 x $20) during that 7 months, you could then at that time take that $340 and pay off the balance of your remaining payments.

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