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Can You Upgrade Early with Verizon? Your Definitive Guide

Yes, you can upgrade early with Verizon, but the specifics depend heavily on your current plan, device payment status, and any promotional offers you might have taken advantage of. Gone are the days of simple two-year contracts. Today, upgrading early with Verizon is more nuanced, involving careful consideration of your remaining device balance, upgrade eligibility, and potential fees. Let’s break down the intricacies and explore your options.

Understanding Verizon’s Upgrade Policies

Verizon’s upgrade policies have evolved significantly over the years. Initially tied to fixed contract durations, they’ve shifted towards installment payment plans and flexible upgrade options. This means your upgrade path is intimately linked to how you purchased your current device. Did you buy it outright, finance it through Verizon, or receive it as part of a promotional deal? The answer to this question dictates your next steps.

Device Payment Plans: The Key to Early Upgrades

Most Verizon customers today are on a device payment plan. This essentially means you’re financing your phone over a period of 24, 30, or 36 months. If you are on this type of payment plan, you’re typically not eligible for an upgrade until you’ve paid off a significant portion of your device.

Checking Your Upgrade Eligibility

The first step is to check your upgrade eligibility. You can do this in several ways:

My Verizon App: This is the easiest method. Log into your My Verizon app, and it will clearly state your upgrade eligibility for each line on your account.
Verizon Website: Log into your Verizon account on the Verizon website and navigate to the “Devices” section. Your upgrade eligibility should be displayed there.
Customer Service: Call Verizon customer service or visit a Verizon store. A representative can quickly check your eligibility. Be prepared to provide your account information.

Paying Off Your Device: The Simplest Route

The most straightforward way to upgrade early is to pay off your existing device. Once the device is paid off, you’re free to upgrade to a new phone. You can do this through the My Verizon app, website, or by contacting customer service. Once you’ve paid off the device, you can trade it in or sell it privately.

Upgrade Programs: A Faster Path

Verizon occasionally offers upgrade programs that allow you to upgrade before your device is fully paid off. These programs usually require you to trade in your current device in good working condition and enroll in a new device payment plan. Keep an eye out for these promotions, as they can provide a more affordable way to get your hands on the latest technology. These are often tied to specific devices or promotions.

Dealing with Damaged Devices: Not a Deal Breaker

What if your current device is damaged? You might still be able to upgrade. Verizon offers insurance options like Asurion, which can cover damaged devices. If you have insurance, you can file a claim and replace your device, allowing you to then trade it in or sell it. If you don’t have insurance, you may still be able to trade in your damaged device, but the trade-in value will likely be significantly lower.

Trade-In Considerations

Trade-in value is crucial when considering an early upgrade. Verizon, like most carriers, offers trade-in credits for your old device when you upgrade. The value of your trade-in depends on several factors:

Device Model: Newer models are worth more.
Condition: Devices in good condition fetch higher prices.
Market Value: The current market demand for your device.

Before committing to an upgrade, get an estimate of your device’s trade-in value. This will help you determine the true cost of upgrading early. You can usually get an estimated trade-in value on the Verizon website or in the My Verizon app.

Promotions and Deals: Leveraging Opportunities

Verizon frequently runs promotions and deals that can significantly reduce the cost of upgrading. These deals might include:

Trade-in Boosts: Enhanced trade-in values for specific devices.
Discounted Devices: Special pricing on new phones.
Bill Credits: Monthly credits applied to your Verizon bill.

Carefully evaluate all available promotions before making a decision. These deals can make upgrading early much more appealing and affordable. Look for these promotions on Verizon’s website, in stores, and through their advertising.

Frequently Asked Questions (FAQs)

Here are some frequently asked questions about upgrading early with Verizon:

1. How do I check my upgrade eligibility on the Verizon website?

Log in to your My Verizon account on the website. Navigate to the “Devices” section. Your upgrade eligibility will be displayed for each line.

2. What happens if I upgrade before paying off my device payment plan?

You will typically need to pay off the remaining balance on your device payment plan before you can upgrade.

3. Can I trade in a cracked phone for an upgrade?

Yes, you can trade in a cracked phone, but the trade-in value will be significantly lower than a phone in good condition.

4. Does Verizon offer any early upgrade programs?

Yes, Verizon occasionally offers upgrade programs. These programs usually require you to trade in your current device and enroll in a new device payment plan. Check Verizon’s website for availability.

5. What if I have insurance on my phone?

If you have insurance (like Asurion), file a claim for your damaged device. Once replaced, you can trade in the replacement for an upgrade.

6. How can I find out the trade-in value of my phone?

Visit the Verizon website or My Verizon app and use the trade-in estimator tool. You can also get an estimate in-store.

7. Are there any fees associated with upgrading early?

There may be an upgrade fee, typically around $35. This is a one-time fee charged for processing the upgrade.

8. What are Verizon’s device payment plan options?

Verizon offers 24, 30, and 36-month device payment plans. The longer the plan, the lower your monthly payment, but the longer you have to wait to upgrade without penalty.

9. How do I pay off my device early?

You can pay off your device early through the My Verizon app, website, or by contacting customer service.

10. Can I upgrade if I have a past-due balance on my Verizon account?

You typically need to resolve any past-due balances before you can upgrade.

11. What if I received my phone as part of a promotional deal?

Promotional deals often have specific terms and conditions regarding upgrades. Review the details of your promotion to understand your upgrade options.

12. Where can I find the latest Verizon upgrade promotions?

Check the Verizon website, My Verizon app, or visit a Verizon store to find the latest upgrade promotions and deals.

Making the Right Decision

Upgrading early with Verizon requires careful evaluation of your current plan, device payment status, and available promotions. By understanding your options and taking advantage of available resources, you can make an informed decision that aligns with your needs and budget. Don’t rush into an upgrade without first checking your eligibility, assessing trade-in values, and exploring potential deals. A little research can save you money and ensure a smooth upgrade experience.