Device financing is all the rage with carriers lately, which also helps customers get earlier and quicker upgrades. Verizon is launching a new program that will allow anyone that’s financing a Galaxy device to upgrade yearly to stay current with Samsung’s flagship offerings.
The new program works pretty similarly to Verizon’s existing device payment plan, with the cost of the device being split up over 24 monthly payments. However, after 30 days and after 50% of the device has been paid off (which would typically happen after 12 payments, or a year’s worth) you can trade your device in and upgrade to the next Galaxy S8 or whatever’s out at the time.
If you don’t want to upgrade, you’re free to keep paying off the device over the remaining 12 payments. If you upgrade a few months down the line, you’ll still be enrolled in the program, but you might have to make a few extra payments to get the new device right when it comes out. Otherwise, you can always wait until 50% of the device is pdi off, then do your trade in and upgrade.
This new annual upgrade works almost identically to AT&T’s varied Next upgrade plans, and sort of similarly to Sprint’s leasing options. Verizon made sure to call Sprint out on the faults of their leasing program, too.
If you want to take advantage of this annual upgrade option, you’ll simply have to buy a Galaxy S7 or Galaxy S7 Edge on Verizon’s device payment plan. Everything’s automatic from that point forward.
source: Verizon Wireless