For those of you who already understand all the fine print, please bear with me as it slowly sinks in. In particular:
Verizon Edge - Verizon Early Upgrade Plan
Here’s how it works: Choose the phone you want and sign up for a month-to-month service plan, it’s as easy as that. The FULL RETAIL PRICE [caps added] of the phone will be divided over 24 months and you’ll pay the first month at the time of purchase. If you want to upgrade after 6 months, just pay off 50% of the full retail price of the phone and you can choose a new phone and start all over again.
I honestly wasn't tuned in when the Edge plan was announced -- about the only part of it that caught my attention was the "early upgrade" option. In hindsight, the idea of being charged $500 or $600 is pretty unattractive -- but let me emphasize that I'm a happy 1-phone-every-2-years owner, not a 1-phone-every-3to6-months owner. It makes no difference to me that the payments are stretched over 2 years. The right way to look at it is to run a scenario over ownership of several phones/years, and look at the total outlay, versus advantages gained by the plan. For example:
Jump, Edge, or Next: which mobile carrier's early upgrade plan screws you the least? | The Verge
AT&T and Verizon, meanwhile, charge no down payment, but split up the cost of the phone over nearly two years with what we’re calling "hardware payments." However, your monthly service plan from AT&T or Verizon includes about a $20-per-month subsidy on top of that, according to industry estimates. That’s one of the reasons why their individual plans cost so much more than T-Mobile’s, and
this is precisely what makes both AT&T Next and Verizon Edge almost always a bad deal — you’re paying for your phone twice.
I realize that everyone else figured it out in July, but I honestly assumed that "if I switch over to a tiered/capped plan, I will continue to get
upgrade prices even on the Edge plan." Duh, obviously not.
So yeah it's getting a bit clearer to me now: the promo says, "To help these customers take advantage of Verizon Edge..." which I take to mean, "you only get the 'new' data plan offer if you lock yourself into Edge as well." In other words, I "lose" unlimited and also kiss goodbye $200 and $100 subsidized phone prices. Like I said, spreading out retail prices, to me, is the same as paying up front, just more slowly (QUESTION: is there interest on those installment payments?).
Funny that they didn't offer the option to move into Verizon Max WITHOUT changing anything else, that is, just modify the terms of data delivery while keeping everything else the same. This feels like having my hand lured into a cookie jar that's filled with rattlesnakes.
-Matt