Quick Answer: How Do Verizon Upgrades Work?

Do I own my phone after 24 months?

Typically the cost of your phone is divided over 24 months.

As long as you still owe money on your phone, you can’t leave your carrier.

When you’ve paid the phone off, you own it.

However, you won’t own any of the phones unless you pay a large fee to buy it out..

How much does it cost to upgrade your phone with Verizon?

When upgrading, there’s an upgrade fee when you buy a new device at retail price or with device payments. The fee is $20 when you upgrade through the My Verizon app or My Verizon online. The fee is $40 when you upgrade in a store or by phone.

What does Verizon eligible for upgrade mean?

Eligible for upgrade means that you can upgrade your phone, start a new contract period, and get the discounted contract price (the $199). If you were not eligible for upgrade (had your phone a short period of time), you would only be able to get it if you paid the full $549.

Why does Verizon charge an $40 upgrade fee?

That’s because Verizon charges a $40-per-month “access charge” to customers with subsidized devices but lowers that payment to $20 when the contract expires. For customers on device payment plans or who own their phones outright, the monthly access charge is $20 from the start.

What do I do with my old phone after upgrade?

Five things to do with old cell phonesRepurpose it: Hack it, modify it, use it in a project.Activate it: Pass it on or use it as an emergency phone.Give it away: Plenty of charitable organizations would love to have it.Sell it: Make a few bucks if it still has some life.Recycle it: Find a reputable recycler.

Does Verizon still do free upgrades?

Every two years, Verizon offers existing contract customers the opportunity to upgrade with what is essentially a $200 voucher to spend on whatever new smartphone they want. … Verizon customers on the contract plan will continue to get that perk as long as they stick with their original plan.

How can I change my Verizon upgrade?

How do I switch upgrades with someone else on my account?Go to the My devices page in My Verizon.Select a device identified as Upgrade eligible.Click Transfer upgrade. … Select the mobile number you want to transfer to.Click Transfer.

Do you have to turn in your old phone when you upgrade?

You basically have two options when it comes to your old phone: you keep it or you ditch it. That’s the basis of it, anyway. If you decide to keep your device, then you at least have a back-up plan in the case that something happens to your new phone.

When you upgrade with Verizon do you have to turn in your old phone?

once you pay 100% of the Edge installment plan, the phone is yours to keep.