hershey2014
Mouseketeer
- Joined
- Jan 1, 2015
I'm almost due for an upgrade but they are trying to talk me into The Edge plan. Has anyone done this yet? Is it worth it?
I wouldn't recommend doing the Edge plan. I regret doing it myself.I'm almost due for an upgrade but they are trying to talk me into The Edge plan. Has anyone done this yet? Is it worth it?
We didn't do it when we upgraded a couple months ago. The Verizon manager we talked to said the Edge program is targeted at people who either don't keep their phones long or don't have the money upfront to afford the expensive phones. On the Edge program the phone isn't really yours until the 2 years is up. Also, due to the phones we got, plan we have, and length we keep our phones it would have cost us more to be on Edge.
We have 4 phones on the Edge program. I did a lot of research before signing up. It really was a no-brainer to go with the Edge program. Here are the reasons:
1) With Edge you pay the full price of the phone in monthly installments. A 16gb iPhone is $31 a month. Add $5/mo for each higher gb phone and another $5/mo for the iPhone+. There are no finance charges for paying monthly.
2)You don't pay $299 per phone upfront for a contract plan. You only pay the tax on the phone upfront.
3)You pay $15 per line instead of $40 per line each month.
4) You save the $30 per line fee that they normally charge when you upgrade your phone or sign up for a new account.
5) After 20 months and assuming you keep your same phone, your bill drops by $31 per line because the phones are all paid for. For 4 lines, that' $124.00 a month price drop after 20 months.
6) You can upgrade to a new phone once you've paid off 60% of your current phone.
I did the math and for all 4 of us to get new phones at $299 each x 4 ($1200 up front), plus the $30 setup fee per line, plus $40 a month per line vs paying for the phones over time w/out finance charges, w/out set-up fees, w/ only paying $15 a month per line, we came out ahead going with the Edge plan. Also, the bill will drop significantly when the phones are paid off 20 months later.
The plan is designed for those who like to upgrade before 2 years are up. HOWEVER, for those who don't upgrade and who do keep their phones longer than 2 years, the plan is even better because your bill goes way down after the phone is paid off, but you still get to keep the $15/mo per line vs $40/mo per line charge that you'd normally pay.