Following in the footsteps of AT&T's "Next" program and T-Mobile's "Jump" offering, Verizon last week introduced the Edge program:
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 six months, just pay off 50 percent 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.
In addition to paying off 50 percent of your handset to meet program eligibility, you must also trade in that handset when you purchase a new model. The Verizon Edge program is now live and will also be coming to Verizon's Share Everything plans starting on August 25th.