Is trading in your iPhone to Verizon saving money or wasting money?

Question

If I trade in my phone for $400 I have to pay it off for 36 months. Is it worth it or will I lose money in the long run?

Answer

Hi, I was a previous Verizon rep for many years, I don’t fully understand your question? Is trading it in for $400 credit towards a new phone worth it? If that’s what you are asking yes as long as you intend to 1. Stay with Verizon and 2. Keep the new phone at least 3 years. Basically how trade ins work is you’ll get a bill in credit each month for $400. So say your new phone is $1000 over the course of 2 years it’ll save you $16.66 on the bill each month. Now if you leave Verizon before your new phone is paid off you lose that credit and you actually OWE the full amount on your phone.

Is trading in your iPhone to Verizon saving money or wasting money?

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