Note 8 Trade In Program

cehogan483
Member

I have a question regarding the trade in promo currently being offered with the Galaxy Note 8 pre-order.  My first question is with that promo, will I still be paying $40 per month and just receiving a $20 credit on my bill or will I truly just being paying $20 towards my phone and the $20 trade in will also be applied as a payment toward my phone?

My second question is that the terms say the credits stop when the phone is paid off.  Now lets say it has been 12 months and no matter how it is done, I would have $480 towards my phone contract and I would have $480 remaining of which $240 would be paid as credits.  If I went to buy out my phone because I wanted to upgrade, what would I be paying…$240 or $480?  Ultimately, I am trying to determine if the way the promo is setup penalizes people who pay off their phone early?  Another way to put it, is if I pay off my phone after 12 months, am I giving up the other $240 left from the promo trade in or will that be applied towards my buyout?

To be honest, I agree with other people that it stinks that we are having to pay off our replacement from the recall debacle especially when the Note 7 for me was supposed to be annual upgrade eligible which means if I still had it, I would not have had to pay off my S7 Edge.  But because we were forced to switch after Verizon ended the annual upgrade eligibility for the S7 Edge we have all been left out of that ability.  However, I can somewhat live with it if I get a true $480 trade in value for this phone as that is worth more than the payoff would have been.  However, the way it is worded, it sounds like if I want to upgrade next year after only one year, rather than a $480 trade-in value, it effectively become a $240 trade-in value which is garbage.  At least through Samsung directly, I can get a $425 trade-in value right now and could then pay what I would pay Verizon for the next year and be paid off by then.  Please provide more clarification on the trade-in program because it seems like a bad deal the way it reads but I don't want to assume it is without clarification.

Thanks,

Your Longtime Customer

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Re: Note 8 Trade In Program

Ann154
Expert

If you pay off the phone balance early any credits that haven't been applied are forfeited. The device payment agreement is for the entire retail price before the credits, you will owe the full amount without the bill credit amount to Verizon Wireless.

I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.

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Re: Note 8 Trade In Program

Ann154
Expert

If you pay off the phone balance early any credits that haven't been applied are forfeited. The device payment agreement is for the entire retail price before the credits, you will owe the full amount without the bill credit amount to Verizon Wireless.

I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.

View solution in original post

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Re: Note 8 Trade In Program

cehogan483
Member

Ok. That's what I thought but wanted to make sure.

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Re: Note 8 Trade In Program

NATALIEK187
Member

Guess what I have a great way/idea to really stick it to verizon, first you could just pay off your s7 edge or what ever phone you got after the recall, then say [Removed] verizon and take advantage of the Samsung promo for note 7 users and just buy the unlocked version of the note 8 phone and guess what?? You can leave Verizon at any time. Hahahah

inappropriate content removed as required by the Verizon Wireless Terms of Service

Message edited by Verizon Moderator

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Re: Note 8 Trade In Program

ZACK2002_99
Member

I have been a big fan of Samsung products for many years (phones/tablets/TVs) and have owned many of their products.  I was part of the Note 7 recall and had to downgrade to the s7 edge, which was not a phone I wanted.  I still owe over $400 on the phone with Verizon.  There is no way I am paying Verizon over $400 cash for my phone that I've had for less than a year to trade it to Samsung for the Note 8 and then still owe over $400 for the new phone.  If Samsung was to put the money for the discount towards my phone (s7 edge) on the Verizon account, then I would still owe over 900 for the Note 8, but they are not even willing to do that much.  The whole ordeal has put a bad taste in my mouth, and when my contract on my Samsung s7edge runs up with Verizon, then it sounds like I need to wash my hands of both Samsung and Verizon. I love Samsung phones, but I'm not big on getting taken advantage of.

Re: Note 8 Trade In Program

cehogan483
Member

That is exactly what I am doing.  Verizon won't get that money from me going forward.  I love Samsung and any experiences I have had with them have shown me that they care about their end users.  Its unfortunate that Verizon doesn't want to just join Samsung in doing the right thing for previous Note 7 owners.

Re: Note 8 Trade In Program

wwwzzz
Member

I forget the exact amount of credits Samsung gave last year to Note 7 owners. I believe there was a $100.00 credit, two additional credtits of $25.00 each plus an additional credit for purchasing any Samsung phone. . So dollar wise when you factor in the trade in value of the S7 Edge, I probably have a little over $100.00 for the use of an S7 Edge for the previous year. Also, I could keep the chargers and ear phones shipped with the Note 7 plus I could keep the free promo 256GB memory card. I purchased my Note 8 from Samsung. The order process was easy, credit approval was simple with generous financing (24 months) and I received instant credit for my S7 Edge. I received my Note 8 on Sept 7 and I am loving it.

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Re: Note 8 Trade In Program

Pgabag
Member

If you purchase a phone online & are told you have $200 credit coming to you on your old phone is not true because if you have any balance left they apply the credit to the unpaid balance even & any balance goes in their pocket! Moral of the story DO NOT upgrade early or upgrade when you the equal amount too what your phone is worth. This program is not explained to you online  at ALL!  I will not be a verizon for very much longer after over 25 yrs sad! 

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