(Rumor) Verizon planning To End All Unlimited Data Plans By End Of 2014!

[lloydstrans]

Going the edge plan will incur full retail only if you keep the phone two years, the purpose of the edge program is after ½ of the price of the phone is reached you can turn it back in and receive the latest greatest phone. Every six months if you want, provided ½ of the value of the last acquired phone's price is reach. It's designed for people that have the latest and greatest syndrome. I still love my unlimited and thus pay retail and sell my older one, some people my plan is not feasible due to financial constraints.

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[lloydstrans]

Just a little number crunching exercise netted these results; if I would've bought my droid ultra today on the edge plan 455.28 is what I would've paid (18.97×24). A note 3 703.41. An iPhone 5s (64gig) 855.44.

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[sharkattack99]

Not to mention there's no way you could pay half in six months cause you can't pay more than the allotted monthly payment unless you pay the rest off to trade it in its bogus is what it is.

No I thought about it cause I'm a techno geek like the new phones but was tired of paying full price was getting spendy. But after more research decided against it.

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[lloydstrans]

Not to mention there's no way you could pay half in six months cause you can't pay more than the allotted monthly payment unless you pay the rest off to trade it in its bogus is what it is.

No I thought about it cause I'm a techno geek like the new phones but was tired of paying full price was getting spendy. But after more research decided against it.

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I did not realize you couldn't "double up" your payments to ease the new phone pain.

One of my friends, this was the cheapest route for him to get a new phone. No upgrade fee, no full taxation rate. One payment due at conception. Side note is the price dropped on his phone.

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[jstafford1]

Actually, according to the terms of agreement on the edge plan you can pay off the device early with no penalties.

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[kodiak799]

I think the program is garbage, catering mainly to people with money burning a hole in their pocket.

Although at 12 months it is kind of a wash vs. flipping your phone on EBAY. It's a convenience that VZW provides at minimal cost (and they can sell it for more than you can on EBAY, which means a win-win).

After 6 months, though, it's cheaper to flip it yourself because otherwise you're turning in a phone you've paid 50% for that is still worth maybe 70% of retail new. And if you're talking dropping $600-$700 total for 2 phones every year....well I would guess for most that's pretty poor financial management.

 

[lloydstrans]

^^^^^ agreed

 

[sharkattack99]

Actually, according to the terms of agreement on the edge plan you can pay off the device early with no penalties.

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Yeah but you can't make higher monthly payments

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[GotnFX]

Yeah but you can't make higher monthly payments

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Well what would happen if you paid more than what your monthly bill is?

 

[sharkattack99]

Can't according to this faq
And they only let me pay the bill amount when I was a Verizon customer and even then I think it would just show as a credit to the account


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[jstafford1]

I think the program is garbage, catering mainly to people with money burning a hole in their pocket.

Although at 12 months it is kind of a wash vs. flipping your phone on EBAY. It's a convenience that VZW provides at minimal cost (and they can sell it for more than you can on EBAY, which means a win-win).

After 6 months, though, it's cheaper to flip it yourself because otherwise you're turning in a phone you've paid 50% for that is still worth maybe 70% of retail new. And if you're talking dropping $600-$700 total for 2 phones every year....well I would guess for most that's pretty poor financial management.

Say what you will. I could have bought 2 phones outright or utilized the Edge program. I chose the later for a few reasons, none of which are poor financial management. Either way I pay the same, one way is upfront the other is over 2 years. What difference does it make? It works for some and doesn't for others.

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[jstafford1]

Yeah but you can't make higher monthly payments

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Why can't you? From what I read when I signed the deal I can pay extra if I want.

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[lloydstrans]

Why can't you? From what I read when I signed the deal I can pay extra if I want.

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I prepay my plan about 5 months at a time (unlimited everything), the money just goes on your account. If you prepay an edge I assume it'll still do the same. I presume they don't want people to pay on the phone and let the service ride along. AKA paying down the principal on a mortgage. Seeing how the phone is interest free. If you pay extra every month, take note Verizon doesn't include an envelope with a statement that has a negative balance, at six months you would have a credit you can use any witch way you deem appropriate.

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[GotnFX]

I think it would just show as a credit to the account

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In which they would apply to next months bill which would then lower your bill...you then pay more..which would then show as credit again to your account. As long as you are paying your bill I see no reason for VZ to deny the extra amount. Just my opinion.

 

[lloydstrans]

^^^^ exactly. In my life experiences nobody cares if you prepay. Just saying. Verizon never has sent back my check saying you screwed up and over paid.

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