Hi - I upgraded an iPhone in December during a promotion; it said you would then get a credit for your trade in value. I had made 20 payments on my phone. I believe that the promotion stated that the balance would be forgiven and that you would get a trade-in credit ($191) on your next bill. Instead, I was charged $156 (remaining balance) and then I got the $191 credit. Therefore, I really got $35 as a "promotion". I spent 1.5 frustrating hours on the phone today with customer service. They claim there was never a promotion...and that I simply traded in my phone and then got the difference. I have never upgraded early. Anyone have a similar experience? I feel cheated...
Yes that would occur whenever completing an upgrade & trade-in when there is still a balance owed on the previous device payment plan.
When going through the upgrade steps there will be two options to choose from when an existing device installment agreement is active-
1) Upgrade and return your device. Or 2) Keep your device and pay the remaining balance.
There isnt an an option to forgive the current device balance, Verizon doesn’t have specific promotions for that. Trading in the previous device as you did does cover the $156 balance owed in your case due to the trade in value being $191.
If you upgrade in the future after already paying the previous device off the full trade in value of the old phone can go to the new purchase, or your bill.
We never want you to feel as if you had been cheated as I assure you that is not the case. And I do apologize if there was any confusion but deloused de sum it up correctly. We have never had a promotion that forgave or negated the terms and conditions of your original device payment agreement.
With the DPP (device payment plan) the phone is still technically the property of Verizon until paid off. Think of it as a lease with an option to buy. At the end of that lease, the phone is yours as you have then paid it off completely. However, if the phone isn't paid off, we are not going to pay you for a device that is already owned by us. Once the device is owned by you (paid off), it then can be traded in to us for a monetary gain. That is why you only received the difference between what you owed on the device and the trade in value. I hope this information was beneficial.
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Couldn’t disagree more. I was cheated by Verizon. I was offered the ability to updgrade early and get a credit for my trade in. I was originally charged $156 bc VZ didn’t get it by x date. However, I then got an email that they received it and that I wouldn’t be charged. Of course, now the story is that I only got the difference with the trade in and balance owed. I would not have ever traded it in otherwise. Extremely deceptive practices by Verizon.