Verizon’s $1,000 deal
We have mentioned trade-in and broken phone discounts a number of times recently, as carriers and brands seem to be using such incentive more often to lure smartphone buyers into purchasing a new model. Last October we noted that Samsung was offering generous discounts on the newly released Galaxy Z Flip foldable smartphone, including trade-ins that had broken screens, a good reason to be looking for a new phone. The price of the Galaxy Z Flip was $1,299 and Samsung was offering up to a $650 discount for a Galaxy S20 Ultra (released in February of 2020) and a $400 discount for a cracked screen model.
It seems that Verizon (VZ) has taken such discounting to heart and is offering up to a $1,000 off if a customer turns in an ‘old, cracked, or water damaged phone’ such as an iPhone 12 or a Samsung Galaxy S21, but there are a few ‘conditions’ that have to be met. Obviously, the trade-in phone has to be in some type of condition other than on fire, so the actual value of even a relatively new phone is a bit subjective, although if just the screen is cracked and no other damage, it tends to reduce the trade-in value by ~$250 for high-end phones (typically larger OLED screens)., but you also have to either upgrade or add a new line, along with porting your number to one of Verizon’s Unlimited 5G plans. If you are porting from another network you get a $300 e-gift card (for iPhone 12 category) or a $200 card for an Android phone, which comes within 8 weeks. If you are adding a new line you get $700 in credits for your trade-in, but that gets credited to your monthly bill over 24 months.
That said, if you are just upgrading your phone and it’s broken, you get in the neighborhood of $440 in purchase savings. So what it comes down to is your trade-in, new account sign-up, upgrade to 5G, and/or new plan, cuts the price of your new phone by means of credits against your new account. Technically, there seems to be no limit as to how many phones on a particular account can take advantage of the new offer, but we expect there are some limitations that have yet to be spelled out by Verizon. In any case, as is typical, the cost of the new phone is spread out over time, taking the sting out of putting down nearly $1,000 for a new phone, and the monthly ‘credits’ take a bit of the sting out of your ‘new’ bill, so if you are buying a new phone and thinking of upgrading to a more robust data plan, look hard at the fine print before you buy. There is no free lunch….
It seems that Verizon (VZ) has taken such discounting to heart and is offering up to a $1,000 off if a customer turns in an ‘old, cracked, or water damaged phone’ such as an iPhone 12 or a Samsung Galaxy S21, but there are a few ‘conditions’ that have to be met. Obviously, the trade-in phone has to be in some type of condition other than on fire, so the actual value of even a relatively new phone is a bit subjective, although if just the screen is cracked and no other damage, it tends to reduce the trade-in value by ~$250 for high-end phones (typically larger OLED screens)., but you also have to either upgrade or add a new line, along with porting your number to one of Verizon’s Unlimited 5G plans. If you are porting from another network you get a $300 e-gift card (for iPhone 12 category) or a $200 card for an Android phone, which comes within 8 weeks. If you are adding a new line you get $700 in credits for your trade-in, but that gets credited to your monthly bill over 24 months.
That said, if you are just upgrading your phone and it’s broken, you get in the neighborhood of $440 in purchase savings. So what it comes down to is your trade-in, new account sign-up, upgrade to 5G, and/or new plan, cuts the price of your new phone by means of credits against your new account. Technically, there seems to be no limit as to how many phones on a particular account can take advantage of the new offer, but we expect there are some limitations that have yet to be spelled out by Verizon. In any case, as is typical, the cost of the new phone is spread out over time, taking the sting out of putting down nearly $1,000 for a new phone, and the monthly ‘credits’ take a bit of the sting out of your ‘new’ bill, so if you are buying a new phone and thinking of upgrading to a more robust data plan, look hard at the fine print before you buy. There is no free lunch….
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