Verizon Announces iPhone Upgrade Program

Verizon announces that they are offering a new iPhone upgrade program, which allows customers to upgrade their iPhones annually. The catch is that to be eligible for this program customers just need to ensure that they have paid off at least half of the device’s retail cost.

If you purchase either the iPhone 6s or iPhone 6s Plus with Verizon’s Device Payment option beginning Friday, September 25, you’ll be eligible to get a new iPhone every year.  Yes, no more waiting for your contract to end.  Now you can always have the latest iPhone – on the network that has the largest 4G LTE coverage in America.

The new program allows you to turn in your phone and upgrade to a new iPhone every year.  If you pre-ordered an iPhone 6s or iPhone 6s Plus, you’re automatically enrolled in this program if you’ve elected the Device Payment option.

Verizon’s new iPhone plan will co-exist with the current 24-month financing plan. However, it will be more flexible than what the competition is offering.

Also, If you do not want to upgrade your phone after twelve months, you can just continue to pay for the handset until it is paid off after 24 months.

If you’re not interested in upgrading, you still have the option to pay your phone off in 24 low monthly payments. That’s a better option than those “lease plans” offered by other companies, which can include surprise balloon payments just 18 months into your agreement, or ask you to turn over your phone without getting anything for it.

This upgrade program is the latest in Verizon’s strategy to reinvent itself. Earlier last month, the company announced that they would be joining the rest of the major carriers by ending contracts and subsidies in favor of installment plans.

Source: Verizon