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Verizon is ending early upgrades

Written by on April 17, 2013 in T-Mobile, Verizon - No comments

If you have been a Verizon customer for a few years, you might have taken for granted the ‘Early Upgrade’ eligibility that allowed you to renew your contract at the 20 month mark. Now users who are signing new contracts or upgrading will be locked into a full 2 years with that shiny new smartphone – that hopefully will last you that extra 4 months tacked on until you can renew your contract.

As stated by Verizon Wireless:

  • In alignment with the terms of the contract, customers on a two-year agreement will be eligible for an upgrade at 24 months vs. today’s early upgrade eligibility at 20 months. This change aligns the upgrade date with the contract end date and is consistent with how the majority of customers purchase new phones today. The first customers impacted by this change are customers whose contracts expire in January 2014. As always, customers may purchase a new phone at the full retail price at any time.
  • Customers also have the option of purchasing a phone at full price at any point before their contract expires and beginning April 21, some devices will be available for purchase through the Verizon Wireless Device Payment Plan.

Shortly after this announcement, a second release was made regarding the Verizon Wireless Device Payment Plan that previously only applied to tablets, but will soon be opened up to Smartphones with a retail cost of $350 or more. It would allow you to pay for a new Smartphone in 12 monthly installments with the first installment (and 2.50 per month finance charge) due at time of purchase.

This appears to be a sales move similar to T-Mobile’s – with the negative addition of monthly finance charges and 1 year less to pay off your phone vs t-Mobiles 24 month interest-free payment plan.

It should prove interesting what Verizon might offer for service packages pricing if customers are able to split the hardware cost away from the core voice/data/text plan.

We should have more details after April 21st when this program officially goes into effect.

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