Verizon has one of the most straightforward device upgrading programs in the industry. Essentially, you're eligible for an upgrade to a new phone once 50% of your current device has been paid off. The caveat: this program is only open to those with an iPhone 12 or newer (Galaxy fans, you're out of luck).
This guide outlines the ins and outs of Verizon's program to help you figure out a) if you're eligible, and b) if upgrading early makes sense for you. Read on to learn more about Verizon's early upgrade program. Sidenote: if you're curious about what the carrier has to offer, check out our guide to the best Verizon plans.
Can You Upgrade to a New Verizon Phone Early?
Verizon's early upgrade program is seemingly straightforward. You can upgrade to a new phone with Verizon once you have paid off 50% of its retail price under your device repayment program—and return it in good working condition. Verizon's device installment plans last for 36 months, so most people will have reached the 50% payoff mark after a year and a half. Of course, you can also opt to pay off more to become eligible earlier. You can even pay off your financed phone early in full.
Now here's the fine print: Verizon's early upgrade program only applies to certain devices, namely, the iPhone 12 or newer. Currently, no Samsung, Motorola, or any other brand devices are eligible.
You'll also need to determine whether upgrading early is a good choice for you. If your current phone is still in excellent working condition, and the latest upgrade is only marginally better (as most are these days), it may make more sense to forego the upgrade until your device is a few years old.
How Do You Know If You're Eligible For An Upgrade with Verizon?
You'll know if you're eligible to upgrade early once you verify that 50% of your current phone has been paid off—assuming it's one of the devices listed above. To find out, either log into your My Verizon account online or via mobile app, or contact Verizon customer service directly.
If you've been enrolled in the annual upgrade program for a while, the service may be extended to you even if you don't have one of the iPhones or Samsung phones mentioned. Again, a call to Verizon customer service should clear things up.
How to Know If Your Current Verizon Phone Can Be Traded In
As mentioned, not only do you have to have 50% of your current (eligible) phone paid off in order to take advantage of Verizon's early upgrade program, but you have to return in your current device in "good working condition." That's defined by Verizon as:
- A device that turns on and off
- A device that does not have a cracked screen
- A device that has all password-protected security features (e.g. Find My iPhone) turned off
- A device that has no other significant damage as determined by Verizon
How Verizon's Early Upgrade Program Compares to AT&T and T-Mobile
If Verizon's early upgrade program seems a little fuzzy around the edges, just know that this is the case with the other major carriers as well. Here, in brief, are T-Mobile and AT&T's early upgrade terms.
T-Mobile
JUMP! allows you to upgrade after you've paid off half your device, but you have to sign up for Protection, the company's device insurance program.
AT&T
AT&T Next Up allows you to upgrade to a new smartphone once 50% has been paid off.
Bottom line: Upgrade your phone and save on coverage
Many people don't realize that you can get the exact same coverage as you would from a Verizon plan and still enjoy upgrade benefits by going with a much cheaper MVNO like Visible. With plans starting at just $25/month, you'll have access to Verizon's award-winning 4G and 5G network for half the price. Plus, when you finance an eligible phone with Visible, Visible will cover up to the last 50% when you upgrade to the next model.
Chris Holmes
Staff Writer
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