First you need to be out of contract to qualify for the Verizon Edge program. As for If it is a "good" deal, you should browse through the existing community discussions already about this topic.
Edit: You are still paying full price for the phone with the Verizon Edge program, it is broken down different.
Here's some additional information.
Whether or not it is "a good deal" for you is a question that only you can answer.
It's not a good deal if you tend to keep your phones for a long time.
It could be a good deal if you like to upgrade at a discounted price every year.
It might not be a good deal if you don't take care of your phones (because the device has to be returned in good condition with no damage when you get a new one).
Thanks for the link, but it really doesn't make sense. For example:
Verizon Edge is a program that lets you pay for your phone over 24 months rather than paying for it all upfront. You only need to pay the first month’s installment at the time of purchase. You’ll then make a monthly payment until your phone is paid off completely.
After six months, if you’ve paid for at least 50% of the phone, you’ll have the option to Edge Up to a new one without any upgrade fees.
If I am paying for a phone over 24 months, it will take 12 months to pay 50%, not 6 months.
You have the ability to upgrade as early as 6 months, so at the time of doing the edge up you would have to pay off the remaining to have paid 50% and then you can.
My personal opinion about this and what tmobile and every is doing. This is a great program if you 1)go through phones more than the 2 year contract 2) stay with the trend of technology and want to stay up to date with it (such as the galaxy line and the iphones)
I'm doing it because I know in less than a year a new galaxy will be out and I'd like the chance to get it without being in a 2 yr contract.
According to Ann154 you are paying full price with Verizon Edge. If that's the case, I would have to conclude that it is not a good deal. I tend to keep my phones for two years or so, and then take advantage of a discounted upgrade. I might get new phones more frequently if I didn't have to pay full price.
The Edge program is basically a lease/car loan program. You continually pay monthly installments on the device until it is paid off in 24 months or trade it for a new one once 50% or half of the retail price is paid off and you start paying the monthly installments for the new device.
For example a phone (device A) is $600, At six months or a year you have to have paid $300 towards the phone. Then you trade in "device A" for a new phone (device B) and start paying the installment payments for device B. The cycle repeats every six months to a year depending on how often you want to switch between phones.
You also have to remember that the phone you trade in has to be in good condition according to Verizon Wireless. Your interpretation of good condition might be very different from Verizon Wireless.
You ARE paying full price with Edge (if you keep it for the full term).
But as noted, you are eligible to "Edge Up" after 6 months if you have paid at least 50 percent of the device cost. That's where turning the phone in comes into play. It makes up the rest of the cost.
If you keep your phones for two years, then you shouldn't use Edge.