The new Verizon Edge plan is now live, offering Verizon customers a new option to stay up to date with the latest smartphones.
Like most of the new Verizon offers and promotions this one is aimed at customers on a Share Everything Plan, but Verizon is making a special offer for users with unlimited data who want to use the Verizon Edge plan to get a new smartphone as fast as every six months.
With a Verizon Edge plan, instead of paying for a new smartphone up front, the cost of a phone is split up between 24 months. After six months a user can trade up the latest smartphone, as long as the current phone is at least 50% paid for. Users need to trade in the old phone when they buy a new one for this plan to work.
The Verizon Max plan is a special Verizon Edge deal for unlimited data customers who want the upgrade options without jumping to a full shared data plan, but it will still mean giving up unlimited data which is something many Verizon customers may be wary of doing.
Verizon confirmed the Verizon Max plans today to Gotta Be Mobile, sharing two plans offered to users who want Verizon Edge without a Share Everything plan. Neither plan will replace unlimited data, but the temptation of fast phone upgrades could make up for the trade-off. The Verizon Max plans are as follows.
- 6GB Data for $30 a Month No Tethering
- 8GB Data for $50 a Month with Tethering
These plans may fit the needs of many users that are only using a few GB of data each month, but it is worth remembering that there is no way to get unlimited data back. These plans offer non-shared data so the 6GB and 8GB buckets of data are for each line on the account, something Verizon no longer offers for new customers.
With the Verizon Edge plan a user could switch to Verizon Max and buy the upcoming iPhone 5S for no up front cost. The estimated $649 off contract price would be split into 24 payments with no financing charges. In this example, a user would pay an extra $27 a month for the iPhone 5S.
Once the iPhone 5S is half paid off and after at least six months, the user could trade up for a new phone. Users can pay off early, but many users will likely stick to an annual upgrade with the Verizon Edge plan. Buying an iPhone 5S now, would leave Verizon Edge users with the option to upgrade to an iPhone 6 in as little as six months.
Because users need to trade in their phone to get a new one, users should consider checking out the trade in values for older phones. Many times iPhones hold their value well enough that users can get similar deals by trading in at a third-party. Android phones don’t typically hold their value as well, so it may be a better option.
Verizon Edge is available for any smartphone Verizon sells, including the iPhone, Verizon HTC One and many others. AT&T and T-Mobile offer similar plans to upgrade to new phones faster.