Verizon announced on Wednesday a brand new trade-in promo that will let new and existing customers save money on their next 5G phone purchase in a manner that’s not available on other carriers. Verizon says that customers are eligible for up to $1,000 in savings when trading-in a broken phone, which sounds too good to be true. The fact that Verizon announced the promo right before April Fools is both unfortunate and brilliant. People might think the deal isn’t real and that it’s just a gimmick, but that’s apparently what Verizon wants you to think. The carrier says in its press materials that the new trade-in program from cracked and water-damaged devices isn’t a joke, and it’ll be available to customers starting April 1st.
As always, with trade-in plans, conditions apply, but this time around, the phone you want to trade-in doesn’t have to be in good order. Verizon says both new and existing subscribers qualify, but signing up for an Unlimited plan will be required. Also, the savings aren’t offered as cashback or instant savings on the new phone. Most of it will be applied as bill credits over 24 months. Verizon will also bundle trade-ins with e-gift cards that will be sent within 8 weeks after purchase.
Verizon says in the video at the end of this posts that even phones that do not turn on can be traded in, offering two examples to show what sort of trade-in valuation you can expect.
An iPhone 8 with a cracked screen on another network traded-in for an iPhone 12 and a Get More Unlimited Plan will yield $700 for the phone (via bill credits) and a $300 e-gift card. The iPhone 8 was launched in 2017 at the same time as the iPhone X, so the offer is all the more impressive, especially if the device is already broken.
Verizon customers who trade in the same cracked iPhone 8 for the iPhone 12 and the same Get More Unlimited Plan will only get $440 in bill credits, but that’s still a great deal for an old device that’s already cracked. On the other hand, the deal doesn’t do anything for customers who do not want to sign up for one of Verizon’s 5G plans.
Verizon uses the iPhone 8 in its examples, but many other devices will be supported. While the announcement doesn’t list other handset models and their trade-in value, the carrier does say in the fine print that Android phones will get up to $800 in trade-in and a $200 e-gift card for the same up to $1,000 in savings when porting from a different network and getting a 5G unlimited plan.
Verizon will also have a few additional perks in store for subscribers who get the Play More or Get More Unlimited plans. Subscribers can get up to 12 months of The
Verizon says that nearly 100% of its stores are open, but they will continue to respect health guidance, including social distancing, face masks, and touchless retail. Customers can schedule appointments online.