If you're looking for information on Verizon's free phones, BOGO deal, or any other special offer, then look no further: we've got all the details you need on Verizon's terms and conditions, in plain English, for all of their most tempting deals.
- Free or discounted phones require a 24 month commitment
- BOGO deals require you to finance both devices and billing credits will not be applied to your account for 2-3 billing cycles
- Read on to get the details on these Verizon terms and conditions and more
Once you've been grabbed by headlines like, "Buy One, Get One!" or "Free Smartphone!"—will you end up paying more than you should or are you really going to get what you think you've been promised? It depends on your situation.
To ensure that you're getting the most from your carrier, simply ignore the headlines, because you'll only get what's in the fine print—and we're here to help clarify that for you. And if you're in the market for a plan, check out our guide to the best Verizon plans.
Verizon's Conditions At-a-Glance
Whether you're buying a new phone, trading in an old device, getting a BOGO deal, or taking advantage of a free phone - the most important thing to know is that you need to follow the deal guidelines strictly - because they'll hold you to them. More, there are a lot of stipulations in the fine print that you might not have agreed to, had you known they were there.
Verizon's Terms and Conditions: At-a-Glance
- Free Phones
- Expectation: Get a really awesome device for nothing (or next to nothing).
- Reality: Your free or discounted phone requires you to stay with Verizon for 24 months. While you're not contractually obligated to stay with Verizon, you will need to pay a "buyout price" for your phone before you can take that device to another carrier. Before you commit to such a deal, just make sure you're good with the buyout price.
- Ideal for: Those who don't need the latest and greatest device and know that Verizon's service works for them.
- BOGO
- Expectation: You will get two phones for the price of one.
- Reality: You will need to finance both phones and add each one to a plan. You will make 2 full payments on the "free phone" and then you will begin to see credits applied to your account in the amount of the free phone's installment payment. If you cancel your lines before 24 months, those billing credits will become null and void - and the remaining balance of both phones will become immediately due.
- Ideal for: Those who will be needing a second phone anyway. In that case, you're only making a couple payments on a device you would have normally made full payments on in the first place.
- Trade in
- Expectation: Get a credit towards the purchased price of a brand-new device from Verizon.
- Reality: You will get a quote for the trade in value of your phone, you will need to send it in, then if Verizon determines that the device is exactly as you stated, they'll follow up by either confirming that you'll get the credit you were promised—or they'll let you know if the quote will be lower than expected.
- The credit will then be applied to your Verizon account within 3 billing cycles.
- The important thing to note here is that if they disagree with your stated condition once you've sent it in, there is no going back. They will not return your device for any reason.
- Installments
- Expectation: Pay for your phone in 24 monthly installments and after your device is paid down by 50%, you have the option to upgrade your device.
- Reality: It's actually pretty straightforward. Once you pay off your device, the monthly installments will no longer be included on your bill.
Verizon's Financing, Trade in, and BOGO Terms
If you're in the market for a brand new phone, then there's good news ahead of you: Verizon keeps a great stock of all the latest and greatest devices. More, you have an option to buy your next device outright or you can finance it.
The trick here is to know which of their buying options you want to take advantage of. If you're interested in finding out more about how you will be billed, then please refer to our Verizon Billing Guide—and if at any point you need to contact them, refer to our Verizon Customer Service page.
Verizon's Installments
If you can't (or don't want to) pay for your device in full when you switch to Verizon, then you can simply finance your new phone—they'll give you 24 months to pay off your device. Here are some important details:
- Depending on your credit, a down payment might be required
- Your payoff timeframe is 24 months, though you can upgrade after the device is paid down by 50%
- If you cancel your service before your device is paid off, the balance of your device will become immediately due
- You do not have the option to incrementally pay down the remaining balance of your device sooner than your financing terms to lower your monthly payment
- You do have the option to pay down your device by 50% to become eligible for an early upgrade
- You have 14 days from the date of purchase to return your device for a refund - a restocking fee of $50 will be charged to your account
Verizon Trade in Terms
For the best chance of maximizing your trade in value, your phone must also meet the following criteria.
- Your device must be paid in full
- Your device must be unlocked
- It must power on and off
- Screen must be intact, free of chips and cracks
- Device body must be free of cracks, chips, and damage
- Battery must be included
- Your device cannot be jailbroken
- You MUST disable Find My iPhone, this is very important
- Your device must be wiped and reset
- You have 15 days to complete the trade in once you receive your prepaid envelope
- If the phone is not in the condition you specified at the time of generating your initial quote, Verizon reserves the right to change the final quote without notice
- Once you send your device in, Verizon will not return your device for any reason—even if it means you're getting nothing in return
Verizon BOGO Terms
From time to time Verizon offers BOGO deals to celebrate new releases and clear out older stock, which is great for you but there are absolutely some things you should consider before picking out your new devices.
- The "BOGO" you're getting is actually a billing credit that is applied to your statement each month
- You will need to make 2-3 payments on both devices before your billing credits kick in
- You are responsible for paying the full taxes on both devices
- You are responsible for paying an activation fee of up to $30/phone
- You need to finance both phones and will be issued a credit, which will be applied to your account each month, in the amount of the free device payment
- You are usually required to be on an unlimited postpaid data plan, check with Verizon, as this is usually specified at the time of purchase
- If you cancel service on one or both lines, your billing credits will stop and the full amount of your phones will become due
- To qualify, both wireless numbers need to be on the same account
- You have 14 days to cancel without penalty, but a $50 restocking fee, per phone, will apply
Verizon's Free and Discounted Phones
Whether you want a free (or heavily discounted) phone for yourself or a family member, you need to know that those devices still come with some stipulations that are important to be aware of before you commit. Read below to find out more.
- Your free or discounted phone will need to be activated and used on the Verizon network for a minimum of 24 months
- Should you cancel your line, you will need to pay the full retail price of your phone
- It's very important to note that if you're getting that free phone and adding it to your pay-by-the-gig plan for someone else, you will be charged an additional $20/month per phone you add – called a line access fee – and the only way to get around this is to add the free phone to an unlimited data plan of its own
Verizon's Early Termination Policy
We've all done it, sometimes you get a device and it doesn't work out as planned and you need to cancel: but how do you do that? Read below to find out.
- If you're within 14 days of your purchase date, you can simply take your device back to an authorized Verizon store for a refund - you will need to pay a $50 restocking fee
- After your 14 days is up, you'll need to pay the full retail price of your phone
Verizon's Best Plans
Regardless of whether or not you want to take advantage of Verizon's BOGO deals, free phones or trade in program - you first need to know which plan you're going to get.
Bottom line: Great plans for half the price
Many people don't realize that you can get the exact same coverage as you would from a Verizon plan by going with a much cheaper MVNO like Visible, which offers unlimited everything with Big Red's 4G and 5G coverage for just $25/month. We especially love that you can opt for unlimited premium data and global calling benefits, for just a few bucks more.
Whether you're looking for a great deal, an unlimited data plan for a family of 4, or a pay-by-the- gig-plan for one—our comparison chart will help you switch to Verizon today and get the plan that's best for you. Simply look below or customize your results with our plan comparison engine to start saving today!
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#1
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Verizon
15GB Prepaid Phone Plan
$35.00/mo
$45 without AutoPay | AutoPay discount applies after 1st month
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#2
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Verizon
Unlimited Prepaid Phone Plan
$50.00/mo
$60 without AutoPay | AutoPay discount applies after 1st month
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#3
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Verizon
Unlimited Welcome
$55.00/mo
+ Taxes & Fees. Price includes AutoPay & Paperless discount.
+ $40 Upfront
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#4
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Verizon
Unlimited Plus Prepaid Phone Plan
$60.00/mo
$70 without AutoPay | AutoPay discount applies after 1st month
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#5
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Verizon
Unlimited Plus
$70.00/mo
+ Taxes & Fees. Price includes AutoPay & Paperless discount.
+ $40 Upfront
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#6
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Verizon
Unlimited Ultimate
$85.00/mo
+ Taxes & Fees. Price includes AutoPay & Paperless discount.
+ $40 Upfront
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Lauren Hannula
Managing Editor
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