Trade in phone

Hello, I traded in my iphone 12promax back in March since the screen stopped working, i received $800 credit over a new iphone; the remaining balance $300, was to be paid off over the next 36 months last month i got a better monthly deal with TMobile so i switched and now i got a Verizon bill for $1150 which is the full value of the new phone.

Accepted answers

Verizon_Support

We are saddened to hear you have cancelled your service with us. When you trade in your phone for promotional value off a new device, the promotional credit is applied per month for the next 36 months of the payment agreement. Cancelling service prior to the payment agreement completing its 36 months would result in the monthly promotional credits stopping and the remaining amount due for the device to be charged to the final bill.

-Christopher

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Verizon_Support

-Christopher

SynthpopAddict

Sorry about the bill, but the promotion you'd gotten from Verizon is a 36 month contract and leaving before then is breaking the contract, which in your case means you are responsible for immediately paying off your Verizon phone plus possible early termination penalty fees. If your new carrier is still running the "we'll pay off your phone up to $800" deal, I hope you signed up for it.

wez78

Thank you for your reply, sad is being a Verizon customer for 20 years and getting treated this way.

HT25

Sorry to hear that, but not surprised. Yes you technically break the contract (. finance the new phone over 36 months=pay $31 a month * 36=1100; trade in old phone any condition,= get $22 per month credit*36=800,)

over the next 3 years, if you change anything ( leave, pay early, change plan,…), you break the contract, and you have to pay remaining balance of the new phone back ( say you did the after month 3 , then you still owe 33*31=1,023, and the credit is gone. You do keep your new phone, but any residual value of the old phone is gone.

Your case is probably not the sorest. Imagine your old phone was in perfect condition that still have 200 value. In addition, you moved on to a better carrier.