Edge Plan Change?!

[JoeS_]

They're both plans. Even the Verizon website calls Edge a 'plan.'  And you're also wrong about paying 100% of the phone to upgrade. It was 50%, which I utilized, now, for me, it's 75% to upgrade and finally it will be 100%, which it is for anyone who signs up for the Device Payment PLAN now.

[JoeS_]

And the Edge plan wasn't an agreement to purchase a phone in installments, its purpose was to allow customers to upgrade early, not to purchase the phone.

[Ann154]

The Edge now Device Payment option was and is a installment payment option to spread the full retail price of a device across 24 months. The Edge Up was a component of Edge program to allow the customer to upgrade to a newer device by trading in current phone and before the balance of the device was paid in full originally set at 50% paid, then 60% and later at 75% paid for. The Edge Up early upgrade was removed from the Edge/Device Payment payment program when Verizon started requiring 100% of balance was paid. With 100% paid, customers were no longer required to trade in their previous phone to get a new phone.

[JoeS_]

I stand corrected.

[rcschnoor]

JoeS. wrote:

I signed up for the Edge plan in 2013, right after they introduced it.

Yes, you signed up for Edge with a 50% payment option for upgrade with trade in when you signed up in 2013. Once you traded in that phone for a new phone, THAT Edge agreement was completed. Purchasing a new phone after trading in your old Edge phone required you signing a NEW Edge contract with terms which had changed since your original agreement. Those terms required you to pay off 75%. If you utilize that 75% option and "Edge Up" to a new device, you NEW agreement will require you to pay off 100% before you can upgrade. Of course, you then don't have to trade in your 100% paid off phone and can sell it yourself for most likely 50% or more of the original purchase price.

[JoeS_]

That's not how it was described to me, nor did I sign anything saying there was a 'new' contract. The employees both at the stores and on the support line are woefully inept. AGAIN, the way I v understood it, I was on a plan where I could 'Edge' up when I paid 50% of the phone off.

[JoeS_]

And never did the percentage increase. Explaining the terms of the Edge agreement falls on the employees and Verizon, not me. Never will I trust these people again. When the Edge agreement first came out, it was 50% every time. It was changed afterwards.

[rcschnoor · Accepted solution]

JoeS. wrote:

That's not how it was described to me, nor did I sign anything saying there was a 'new' contract. The employees both at the stores and on the support line are woefully inept. AGAIN, the way I v understood it, I was on a plan where I could 'Edge' up when I paid 50% of the phone off.

When you first signed up, they COULDN'T have described it to you in any other way than 50% paid off before trading in and upgrading because the changes had not yet taken place.

It is just like a car loan. You purchase a car with a car loan and after a certain amount of time you trade it in for a new model. The equity you have built up in the car by paying off your initial loan goes to pay off the remaining amount of the loan and the rest is put as a down payment for the new car. You sign a NEW car loan to purchase the NEW car. You are not held to the same conditions of your initial car loan. You are held to the conditions of the NEW car loan you take out for this purchase.

The Edge Plan/Device Purchase Plan work the exact same way. You take the full retail amount of the phone and spread that payment out into 24 installments. With Edge, you were allowed to trade in the phone after reaching a specified threshold of having the installments paid off if you wanted to get a new phone. If you continued to pay off the installments UNTIL they were completed, the phone was yours to do with as you please and you could THEN purchase another phone without trading in your old phone.

[vzw_customer_support]

JoeS, we are saddened to hear that there was some confusion over the current Device Payment Agreement. Rcschnoor, was exactly correct on the changes in this program. Each time you make a purchase and sign a new agreement, you will want to review terms of that new agreement. Just like plans, the Device Payment Plans have changed over time.
LorenB_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!!

[vzw_customer_support]

JoeS., we want to have clarity in our communications with you. When we process an Edge Agreement (now Device Payment Plan), we send an email with the terms and agreements or at store locations you have to agree and sign. We always want to make sure that we provide the important information for you to review.
JoelR_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!!