“We have 2 phones iPhone XR on a 4G shared plan through Verizon. Our total bill is 117/mo. since the phones are paid off. If we trade in our old phones and buy a new iPhone 15 Pro will Verizon make us change our plan to a more expensive unlimited plan?”
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YES, if you want a “deal” you will have to switch to more expensive plans. This is a good deal for very specific circumstances. NO, if you’re mainly interested in simply getting a current generation phone (which most have 5G) but you don’t need 5G speed. Source: My recent experience w/Verizon. Details, numbers below. YES PART: Like a car dealership, Verizon gives you more on your trade-in to try and make it look like the math pencils. If you want free, discounted or installment pricing on a new iPhone via a trade-in, with this particular offer, you will be required to come off that grandfathered plan and choose new plans, for each device. The trade-in + new (more expensive) plan is how you get “a free” or a discounted phone without adding a line. You pay full retail $999 for the iPhone 15 Pro. You either pay out of pocket upfront, or if you qualify, finance the phone on your monthly Verizon bill for 3 years. I believe the financing is at 0% APR, so, there’s that. They spread the trade-in allowance over 36 months as a monthly bill credit. So, if you get the full $999 trade-in allowance, then you’ll receive a $27 monthly trade-in credit for the next 3 years. Even if you pay for the phone outright instead of financing it. If you switch providers during that period you lose remaining trade-in credits and any remaining financing will be due immediately. I have a $110 month 3 line 4G unlimited plan. I did not seek to add another line, which may have provided a $999 credit, or the full retail price of the iPhone 15 Pro when combined with a trade-in. I elected to “upgrade” an existing line. Trading in an iPhone 12 would have netted me $830 in credit. So I could either come out of pocket for the $169 difference or added (financed) $5 x 36 mo to my monthly bill to arrive at the retail price of the iPhone 15 Pro. BUT: I would have had to upgrade every single line and lose my grandfathered, perfectly fine plan. $110 vs $165 a month. Almost $2,000 in additional plan fees after 3 years, or $1,100 net, after accounting for trade-in market value & iPhone 15 Pro cost off-set. I would have needed to choose the most expensive plan on the iPhone 15 Pro to get the full $830 credit. Choosing a plan one step down for $10 p/m less would have cut my trade-in allowance by 50%. HOPE: If you already have a 4G plan and want to get a new 5G phone anyways, you can currently activate a Verizon compatible phone with no plan changes, even if that new phone is 5G capable. I just activated an unlocked 5G Motorola Thinkphone on my Verizon plan for my dad. I did have to jump through a few hoops, though I think because it’s an unlocked, not widely known phone. Verizon’s activation website said his LG 4G SIM card was incompatible with their network. This, despite it working on their network for 7+ years and it also working in his new Motorola when I tested it, (phone calls, texts, Verizon network access.) To avoid further hiccups, I visited a Verizon corporate store to request a new (free) SIM card for the new Motorola. The corporate Verizon rep insisted the phone was incompatible (Verizon does not currently sell Motorola Thinkphones.) She seemed surprised when she was able to provide a new SIM & provision the phone with no problems. Also, I activated a 5G capable iPhone 12 on my 4G plan back in 2020 and had no problems, the phone even registers 5G when I’m within range but I have not tested for speed or call quality differences. This current 2/26/2024 Verizon deal is good if: -You already have semi-current 5G plans -Have an old phone with little trade in value -Don’t plan on switching for 3 years -Would prefer to finance for 3 years vs spending cash today -Required to upgrade to 5G speed for work or play. The inflated trade-in allowance is a bonus for people in that specific scenario. Otherwise, the math just doesn’t pencil. Just sell your current old phone (or keep as backup) and purchase your new phone (or finance it elsewhere) so your plan doesn’t change.
Sorry, there was a problem. Please try again later.Only if you plan to finance the phone with Verizon. If you buy the phones outright you can keep current plans.
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