After we posted a detailed comparison of T-Mobile and AT&T’s quick upgrade smartphone plans, Verizon announced its early upgrade program called Verizon Edge. We’ve take a look at how the three program stack up against each other, and if you should opt for any one of them.
Under the Verizon Edge program, subscribers would have to pay the full price of a device over a period of 2 years, in 24 monthly instalments. The program lets customers upgrade to a new smartphone after 6 months, but will need to pay off 50% of full retail price of the device, and trade-in the phone.
As before, we consider the most likely scenario, where a customer would want to upgrade his or her phone after a year. We also factor in monthly voice and data fees. Plans across all three carriers include unlimited text and voice, but the data usage on T-Mobile is 2.5GB, on AT&T is 3GB and on Verizon is 2GB.
|1st upgrade upfront cost||$145.99||$0||$0|
|2nd upgrade upfront cost||$145.99||$0||$0|
|Monthly rental for device||$21||$32.5||$27|
|Monthly rental for upgrade plan||$10||$0||$0|
|Data + Voice, monthly||$60||$119.99||$100|
|Total (over 24 months)||$2475.98||$3659.76||$3048|
T-Mobile ends up being the cheapest option yet again since it doesn’t include device subsidies in its monthly voice and data plans, while the other carriers do.
But should you opt for any of these early upgrade programs?
The savings with these upgrade plans will be the maximum if you upgrade twice a year, but since Apple launches a new iPhone only once a year, this isn’t really useful. Savings on upgrading once every year are very little as compared to buying your phone at the normal price and selling it. It’s also worth noting that if by any chance, you don’t want to upgrade to a new device every year, you’ll end up spending a lot more by opting into these upgrade plans.
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