Quickly following AT&T's footsteps, Verizon Wireless is throwing its hat into the early upgrade ring with a few unique twists and turns of its own. The program, known as Edge, will offer you the ability to pay the full retail price of your phone on a month-to-month basis, with the cost spread out over 24 months (as opposed to AT&T Next's 20 month). However, you'll also be able to upgrade your phone via trade-in after the first six months, provided you have paid off at least half of your phone's total price. Unfortunately, also like Next, you won't see any change in how much the standard wireless plans cost, so while you're saving the upfront cost and switching phones more often, you're also paying a lot more per month for the privilege. We've got Verizon's blog post past the break if you're looking for more details.
Verizon Edge Device Payment and Early Upgrade Plan
A new way to upgrade to the latest mobile devices.
Technology changes fast. You purchase a phone or tablet and within a few short months, something new hits the shelves.
If you want to stay on top of the latest technology, the new Verizon Edge device payment plan offers an affordable way to upgrade to the newest device and satisfy your love of technology. Verizon Edge is a flexible equipment payment plan that spreads the retail price of a phone over 24 months. You can also upgrade to a new phone after six months if 50 percent of the retail cost has been paid.
Here's how it works: Choose the phone you want and sign up for a month-to-month service plan, it's as easy as that. The full retail price of the phone will be divided over 24 months and you'll pay the first month at the time of purchase. If you want to upgrade after 6 months, just pay off 50% of the full retail price of the phone and you can choose a new phone and start all over again.
There are no long-term service contracts, finance charges or upgrade fees with Verizon Edge. Every six months, as long as 50 percent of the cost of the phone has been paid, you can upgrade to the newest basic or smartphone available.
Verizon Edge will be available to customers on Share Everything plans starting August 25th.
*Verizon is currently in the process of acquiring AOL, Engadget's parent company. However, Engadget maintains full editorial control, and Verizon will have to pry it from our cold, dead hands.