“Alright BestBuy, how exactly is the 50% off (with valid trade in) applied to the account when you purchase the Note 8 on Verizon (but through BestBuy)? Is it applied as a whole sum, or is it spread throughout the 24 months as bill credit?”
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Edd, When you trade an eligible device to Verizon Wireless the credit that you'll receive (actual amount depends on what phone you trade-in) will be split up over the course of 24 months, while your making payments on the phone. If your eligible for a $480 dollar credit with your trade-in, you'd see a $20 dollar credit on your statement each month. The really FINE PRINT here is that you will only continue to get that $20 dollar a month credit (for 24 months) so long as you are still paying off the phone. So...should you choose for what ever reason to pay off your phone after 12 months you will not continue to receive a $20 dollar credit each month for the remainder of the 24 month term. You will have forfeited the remaining $240 dollars in credits, and Verizon will re-calculate your devices trade-in value. In addition to this, if you pay off your phone early and or cancel your service before the 24 months are up, Verizon will re-calculate your trade in amount to the non promotional trade-in value, less what they've already paid you in credits. For example, if you pay your device off after 12 months, and the regular trade-in value for your phone is $250 dollars you'd only receive an additional $10 dollar credit, however, if your devices trade-in value is $239 dollars or less, you might (don't quote me on this) actually owe Verizon for the difference between what they've already credited you, and the non promotional value of your device. Before everyone starts screaming that this policy is BS, look at it from Verizon's perspective. If you were allowed to pay off your device early and or jump ship but continue to receive monthly credits, you'd have no incentive (or very little) to stay with Verizon for the remainder of the 24 months. You may choose to stay regardless, that I don't know, but without this policy people would abuse the promotion. People would be immediately canceling their service once they got the phone and then selling it on eBay or swappa for a hefty profit. Essentially this promotion is Verizon's way of saying that you may not be locked into a contract but if you trade in your device (and buy a new one) and promise to stay with us for 2 years we'll give you extra money for your old device. If you don't like the idea of having the credits divided up across 24 months, you do have another option. Trade-in your device to Verizon for the regular trade-in value, and you'll get a credit or gift card for the full value all at once, it just won't be for the higher promotional trade-in value, or sell it privately. Hope this helps answer your question. Best Regards
Sorry, there was a problem. Please try again later.It's not applied at all buying the phone through someone that is not even offering this promotion... also the 50% off also includes that you must trade in your phone on near perfect condition..
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