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Warning: DO NOT DO A VERIZON EDGE BUYOUT EVER!!!

cshaver
Miembro

When it was time for my wife to get a new phone last summer, she let a Verizon Wireless salesperson in the store convince her to do a Verizon Edge deal to get a new iPhone 6, instead of a normal 2-year contract renewal.

The price for the iPhone 6 was $749.76, spread over 24 monthly payments.  So the monthly payment for the phone was $31.24.  But the normal $40/month "Smartphone Line Access" fee was reduced to (effectively) $15/month because of a "$25 Off Edge Smartphone Access" discount.  So my monthly payment for the phone plus the service was: $31.24 + $40 - $25 = $46.24, and the two year total would be: $1109.76.

Three months into the Verizon Edge deal I decided to pay off the phone, because I wanted to reduce my monthly fees.  I bought out the last 21 months of the Verizon Edge purchase agreement for a sum of $656.04.  I now thought that I owned the phone and would not be "under contract".

However what happened was that the "$25 Off Edge Smartphone Access" discount disappeared, and was not replaced by a $25 Month2Month discount (which is what normally happens when a phone goes off contract).  So I am still stuck paying $40/month for the service on this phone.  This means that my two year total payment for this phone plus service is going to be: ($46.24 * 3) + $656.04 + ($40 * 21) = $1634.76.

So by doing the Verizon Edge Buyout I am going to end up paying Verizon $525 more than I would have if I had not done the Edge Buyout!

Needless to say no one at Verizon explained this to me when I did the Edge Buyout.  And when I called Customer Service to complain about it, the answer I got was "sorry, the Edge Discount goes away when you do a buyout and is not replaced by a Month2Month discount" and "I agree that it would have been better for you not to do the Edge Buyout" and "there is nothing I or anyone else in Customer Service can do about this now".

Don't pay twice for your phone!!!  Don't ever do a Verizon Edge Buyout!!!

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Re: Warning: DO NOT DO A VERIZON EDGE BUYOUT EVER!!!

Snn5
Líder Sénior

You can still get the month to month discount.  You have to manually add it onto the account in My Verizon as a plan change.

The MORE Everything Plan FAQs | Verizon Wireless

Verizon Edge and Line Access Charges

#1

Going month to month after Edge buyout is the same as month to month after you end a contract.  Being out of contract month to month is the same as Edge...since Edge is not a contract.

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Re: Warning: DO NOT DO A VERIZON EDGE BUYOUT EVER!!!

cshaver
Miembro

How do I do this?  The customer service person I called did not mention this, even though we specifically discussed this topic.

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Re: Warning: DO NOT DO A VERIZON EDGE BUYOUT EVER!!!

Snn5
Líder Sénior

Sign into My Verizon and click on Change Features area.  It doesn't change your plan, so you shouldn't see it under Plan Changes.  It's more a feature I guess.  A reduced cost feature I guess you'd call it.