What am I missing (Verizon Edge)

[sam_gordon]

I don't get it. What's the advantage to this program (aside from a new phone) ?

http://www.verizonwireless.com/wcms/consumer/devices/edge.html

According to the website...
You buy a phone and the FULL RETAIL PRICE is divided into 24 payments and included on your monthly bill. Then after 6 months, as long as you've paid 50% of the cost, you can upgrade again.

Or you wait your two years, then can get a new phone at the reduced cost. Is it that important to have a new phone every six months?

 

[elgerber]

I don't get it. What's the advantage to this program (aside from a new phone) ?

http://www.verizonwireless.com/wcms/consumer/devices/edge.html

According to the website...
You buy a phone and the FULL RETAIL PRICE is divided into 24 payments and included on your monthly bill. Then after 6 months, as long as you've paid 50% of the cost, you can upgrade again.

Or you wait your two years, then can get a new phone at the reduced cost. Is it that important to have a new phone every six months?

I have yet to read anything on that program that makes it seem like a good idea to me. Perhaps if you have a broken phone and you really need new one, and are not eligible for upgrade pricing, have the monthly payment option would be helpful.

 

[JanaDee]

I don't get it. What's the advantage to this program (aside from a new phone) ?

http://www.verizonwireless.com/wcms/consumer/devices/edge.html

According to the website...
You buy a phone and the FULL RETAIL PRICE is divided into 24 payments and included on your monthly bill. Then after 6 months, as long as you've paid 50% of the cost, you can upgrade again.

Or you wait your two years, then can get a new phone at the reduced cost. Is it that important to have a new phone every six months?

There is no advantage, which is why I haven't done it.

 

[wiigirl]

There is no advantage, which is why I haven't done it.

x2

 

[scrapquitler]

I don't get it. What's the advantage to this program (aside from a new phone) ?

http://www.verizonwireless.com/wcms/consumer/devices/edge.html

According to the website...
You buy a phone and the FULL RETAIL PRICE is divided into 24 payments and included on your monthly bill. Then after 6 months, as long as you've paid 50% of the cost, you can upgrade again.

Or you wait your two years, then can get a new phone at the reduced cost. Is it that important to have a new phone every six months?

To some people having a new phone every six months IS that important. I don't get it, but it's just like some people want a brand new car every 2-3 years so they lease, even if it isn't the best financial choice.

I also was thinking of this in terms of furniture rentals. If you think about the places like Aarons and Rent-A-Center, there are a lot of people who rent to own furniture, tvs, computers and even video game systems from these places. For some people the appeal of "I can get that new big screen tv for 'only' $49 a month" outweighs the logic of knowing that they will be paying $49 a month for two years ($1200) or they could buy it outright NOW for $600.....if they don't have the $600 in hand and no access to a credit card, then that $49 a month might be very appealing.

Same thing: I want a new iPhone 5s, and I can get it with a regular contract for $200, but I can't afford $200. But yeah, $27 a month, I can afford that. Skewed logic for sure, but for some people, that's the way their finances work.