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Iphone X preorder downpayment
Redraiderade
Member

I want to participate in the Iphone X pre-order but I don't really want to be stuck with a $47 monthly payment. Will I be able to put a down payment on the pre-order so that my monthly payment can be less? If so, is this done in store or can it be done online on the 27th?

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Re: Iphone X preorder downpayment
GRiNCH72
Member

You can prepay toward the financing at anytime.  Do the preorder and then go to a store and make a payment toward the phone.  They can adjust the payments accordingly after that.  Or leave it at the $47 a month and make random extra payments and pay it off early.

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Re: Iphone X preorder downpayment
Ann154
MVP MVP
MVP

The DPP agreement isn't setup to accept random extra payments. You can either pay an amount at the initial purchase to reduce the overall agreement amount or you can pay off the entire agreement amount later. If you do pay extra in the hopes to pay down the agreement faster, it will only be listed as a credit on your total bill.

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: Iphone X preorder downpayment
GRiNCH72
Member

I often made random payments during my iPhone 7 Plus agreement.  I would go to the store and say pay $100 toward my my phone, etc.  They always did it without question.  With that being said I never reduced my monthly payments.  I only wanted to pay my phone off quicker.

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Re: Iphone X preorder downpayment
Ann154
MVP MVP
MVP

Well good for you. I tried to pay off one my DPP agreements early and I was told I could only pay entire remaining balance. The reps here have stated similarly that only the whole amount can be paid off. Also if you are getting credits for a trade-in or other promotion, you will lose any unpaid credits if you pay off the 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: Iphone X preorder downpayment
GRiNCH72
Member

Interesting... it may be my employer's deal.  I am on a government contract even though we own the phones and pay for the service ourselves, albeit highly reduced.  I will have to ask and see if that is a benefit of going through work.

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Re: Iphone X preorder downpayment
vzw_customer_support
Customer Support

You have your sights set on a fantastic phone, Redraiderade. I understand wanting to reduce that high monthly cost though. As Ann154 mentioned, you can absolutely pay a down payment at the time of purchase to reduce the monthly payment amount. It’s super easy and you’ll see the option as you check out through My Verizon when purchasing a new device. Anything remaining from the retail cost after your down payment will be divided into 24 equal payments (if there’s an unequal amount, those few cents will be added to your first monthly payment). The option to pay the device payment in full is always an option too, but the Verizon Wireless Device Payment Program doesn’t provide the ability to make larger payments than the established monthly installment amount unless it’s for the full balance. There may be alternative options like GRiNCH72 mentioned when financing the device purchase directly through Apple or through indirect retail stores. You can see more about the Verizon device program at www.verizonwireless.com/support/device-payment-faqs (check out #2 and #4 under the Installment Agreement and Payment for more about what I mentioned).

 

 

 

JenniferH_VZW

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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!!

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