I have an iPhone 6 from launch date last year that I bought on the edge program. I don't know what happens now on Friday. I've paid off 50% of my phone, which I believe was the original agreement I made to be eligible to upgrade by turning in the device. Now that Edge doesn't exist, what contract terms am I bound by? The original: I have paid 50% so I send back the old iPhone 6 and can buy the iPhone 6S on device payment plan tomorrow morning? The device payment plans: I must pay off 100%. And if it's the latter do I make a payment to pay off the device today, then upgrade to the new phone tomorrow and I keep the old iPhone 6 to sell as I see fit to recoup the money I just laid out to pay it off? Very confused.
Edge is now Device Payment Plan, so nothing changes on your agreement. This means that if your min is 50%, then you can trade in and begin the DPP at 100% on a new phone. You can also pay off the phone in full and then begin a DPP on a new phone leaving you with the option to sell your old phone to recoup for the new one.
Thank you Snn5. I just checked and I'm actually contracted to need to pay off 60%. I'm currently at 55% and won't be at 60% until I pay next month's bill. So if I want the phone Friday are my options to make a $37 payment against the device to bring it up to 60% or to just pay out the device in total.
And if I understand you correctly if I pay off the device in total (~$350) then it's mine to keep and I can sell it elsewhere. Whereas if I just bring it above 60%, I would have to return it to Verizon? Is that right?
Right, to keep it you have to pay 100%, but at this point you'd have to pay ALL that is left owed to move forward on a new phone, because you cannot make a larger payment on the Edge program. So, at this point you either pay normal monthly payments until you reach 60% and trade in, or you pay it off 100% in one payment, keep it, sell it.
Thank you very much, you've been so helpful. I have one last clarifying question. (You'd think I was a teenage girl trying to get the latest tickets to a boy band concert - and I'm actually a grown man who just obsesses over technology...sad really) Anyway, if I pay off the device today in full is it instant so tomorrow it will show we free and clear to start a new device payment plan on the 6s?
Thank you again.