With Verizon Edge, you pay the full retail price of a phone, along with a month-to-month service plan. The cost of the handset is divided into 24 monthly installments, and the first payment is due at the point of sale. If, after six months, you decide you want to upgrade your phone, you can do so, as long as you’ve paid 50 percent of the unsubsidized price, and the phone is still in working condition. Once you trade in your device, all final payments are waived, you choose another handset of your liking, and start all over again.
Verizon Edge will be available for all basic and feature phones, not just smartphones. There is no finance charge, program fee, or upgrade fee. However, you need to be on one of the company's Share Everything plans which start at $40 per month.
“We’ll continue to offer phones on contract for customers. We think that will continue for a long time, and that’s what customers have gravitated toward,” said Dixon. “But Verizon Edge is the next evolution of our program. We have many people coming in saying they want the latest and greatest in technology, and we think this a great option for those customers.”
AT&T's Next program offers a device upgrade every 12 months with a 20 month payment cycle. T-Mobile's Jump program lets you get a new phone every 6 months for a $10 fee and it requires a down payment; although, the company says it has removed the cost of subsidized devices from its rate plans whereas Verizon and AT&T have not.
You can signup for more information on Verizon Edge at the link below...
Read More [via AllThingsD]