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Sell Phone To Buy Out Edge

Member

I am currently on the edge plan, and have an iphone 6. I love verizon, don't get me wrong, the service is great, but it comes at a price. It's really expensive. So I had the idea, what if i sold my phone on amazon and used the money from it to buy out of my edge plan. Would I then be free to go to another (cheaper) carrier?

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Re: Sell Phone To Buy Out Edge

Sr. Member

If you're on the EDGE plan then you have no contract.  You can leave whenever you want...the only thing you will be responsible for is the balance of your device and your last month of service charges.  You're under no obligation to stay and you can go anywhere you'd like. 

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Re: Sell Phone To Buy Out Edge

Sr. Member

Rtiffin, he says that he's on an EDGE plan so there is no contract that he's paying against.  He is however under the obligation to pay off his device because he financed it through VZW.  If he chooses to terminate his service then the balance for the device and last month of service becomes due immediately.

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Re: Sell Phone To Buy Out Edge

Novice

Loquat I am sorry but unless I am reading this wrong ... there is an agreement on the EDGE plan

Does the Verizon Edge program require an agreement? 

Yes, when you participate in the Verizon Edge program, you will enter a 24-month Verizon Edge Agreement. However, this agreement is different from traditional 2-year service contracts because you can upgrade after 30 days with Edge, provided you have paid for 75% of the device and return your existing device in good working condition. Customers must have and maintain a Verizon Wireless service agreement when they purchase a device under Verizon Edge.

Note to customers with Edge Agreements signed prior to 6/1/14: You ll keep your 24-month Verizon Edge Agreement, and will have the option to Edge Up to a new device after paying 50% of the original device and returning the original Edge device to us in good working condition.

Note to customers with Edge Agreements signed between 6/1/14 and 10/15/14: You ll keep your 20-month Edge Agreement, and will have the option to Edge Up to a new device after paying 60% of the original device and returning the original device to us in good working condition.

I am attaching the link to the section so the customer and you know where I located the above

Billing and Payments - Shopping With Verizon Wireless | Verizon Wireless

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Re: Sell Phone To Buy Out Edge

Sr. Leader

Agreement, in this case, is any set of terms agreed to by 2 parties in exchange for money and services.  Contract is an agreement, but is set to a specific time within its terms.  Edge is an agreement in its own, but is based upon 24 months or less depending on an early paid in full device.

Agreement is broad and general, Contract and Edge are specific agreements.

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Re: Sell Phone To Buy Out Edge

Sr. Leader

This is incorrect.

Yes, there is an agreement for Edge. It is, however, a financed(with 0% interest) purchase agreement, not a service agreement. Verizon does not allow a transfer of an Edge purchase agreement so someone else cannot take it over. The original person will STILL be financially responsible for paying off the phone.

I am unsure about the CURRENT method of Edge if a customer leaves Verizon, but when Edge was first started and a customer left Verizon they could simply continue making the Edge payments even though they no longer had service with the company. I have seen some people claiming on these forums that has changed to the full amount being due upon cancellation of service. Whether or not that is true, I do not know.

The question then becomes one of whether or not the phone would become non-working if the Edge payments became delinquent or the full amount was not paid by some due date given by Verizon. My guess is that this WOULD be the case. IF the OP is planning to sell the device to recoup the remaining Edge payments, it would be much safer for them to pay off the phone BEFORE making the sale since the purchaser would have a reason to initiate action if the phone became unusable AFTER they had made payment to the OP and the OP in turn did not pay off the phone immediately.

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Re: Sell Phone To Buy Out Edge

Sr. Leader

You can cancel your Verizon service and you will be billed the remaining balance due on the EDGE phone.  I would be cautious in trying to sell it before your account with Verizon is settled, as the purchaser will not be able to activate it on their account, or any other account, until your account is settled.

I'd recommend paying the balance with a credit card, wait for the final settlement statement to ensure the account is CLOSED, and there is no balance due.  THEN sell the phone, and use that money to pay off the credit card balance.

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Re: Sell Phone To Buy Out Edge

Member

okay! This answered my question! thanks Smiley Happy

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