Verizon trade-ins and upgrade program

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Dec 4, 2020 — 6 min read

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  • Verizon accepts trade-ins on mobile devices from both customers and non-customers
  • You receive compensation through instant credit, account credit, a Verizon Wireless gift card or PayPal credit
  • You can upgrade your phone early for iPhone X, 11 and 12 models or the Samsung Galaxy S10 5G as long as you’ve paid at least 50% of the retail price of your current phone

Whether your cellphone is only a few months old or it’s several years past its prime, the time may be right to upgrade to a newer model. With Verizon, you can choose from the latest iPhone and Samsung Galaxy models, or from a variety of other brands, including Google, LG, Motorola and HTC.

The Verizon Upgrade and Verizon Device Trade-In programs are available to its current customers. The Trade-In program is also available to non-customers.

How does Verizon’s trade-in program work?

Verizon accepts most brands and models of smartphones for its trade-in program. It also accepts tablets, basic phones, jetpacks, netbooks and some wearable tech pieces.

In exchange for your old device, Verizon will either give you instant credit, account credit, a Verizon Wireless gift card or payment through PayPal. Instant credit and account credit are only available to current Verizon customers. To receive instant credit, which you can immediately use towards the purchase of a new phone or other accessories, you have to complete your transaction online and either upgrade an existing line or add a new line. If you’re not eligible for instant credit, you can receive account credit within one to two billing cycles. The other two options, Verizon Wireless gift cards or PayPal credits, are issued within two weeks. The gift cards can be used to either purchase a new device or accessories, or to pay your Verizon Wireless monthly bill.

The trade-in value of your phone is dependent upon several factors. This includes the phone’s make and model, storage size and condition. When using the Verizon trade-in questionnaire, you’ll input the make and model of your phone, the device’s color, storage size, which network you’re on — Verizon, AT&T, T-Mobile or other — and the condition of your phone.

You can mark your phone as good if it turns on, there’s no battery damage and the front and back glass isn’t cracked or broken. If you mark your phone as damaged, you’ll be asked further questions about if the device can be powered on, if the screen is functioning correctly and if the front and back glass is free of cracks, if it’s free of battery damage as indicated by swelling, leaking or is too hot to touch and finally, is the activation lock turned off — the Find My iPhone, activation lock or anti-theft protection features. The appraisal value Verizon assigns to your phone depends on your answers to all of these questions. If the battery is damaged in any way, Verizon will not accept the phone in trade in.

If you’re still using the phone you want to trade in, you’ll have to swap your line to another phone before you send in your old phone. You also need to clear all personal information and content from your phone, such as passwords and lock codes. Additionally, you have to remove the SIM and SD cards before sending in the phone. You do not need to send in the charger, but you do need to send the battery if it was included in the phone’s appraisal (most batteries are).

Verizon trade-in values

We researched Verizon iPhone trade ins, along with other Verizon trade-in deals. For the purposes of this chart, we selected the “Other” network to determine the trade-in value. The value for the other network choices only varied slightly.

How to trade in your phone at Verizon

The process for trading in your phone is relatively simple and can easily be handled from the Verizon website.

  1. Current customers should login to My Verizon. If you want to switch to Verizon, you can set up an account.
  2. Go to the Verizon Trade-In page.
  3. Choose the icon for Smartphone.
  4. Select the manufacturer of your phone — Apple, Samsung, Google, LG, Motorola, HTC or Other.
  5. Current customers should login to My Verizon. If you want to switch to Verizon, you can set up an account.
  6. Choose the color of your phone.
  7. Select the storage size.
  8. Choose what network you’re currently on — Verizon, AT&T, T-Mobile or Other.
  9. Select the condition of your phone — Good (it turns on and there’s no battery damage and the front and back glass isn’t cracked or broken) or Damaged (it won’t turn on or there’s battery damage or the screen is cracked or broken).
  10. If you choose Good condition, you’ll get your estimated trade-in value.
  11. If you chose Damaged, you’ll have to answer four additional questions. Can the device be powered on? Is the screen functioning correctly and the glass free of cracks (front and back)? Is the device free of battery damage indicated by swelling, leaking or is too hot to touch? Is the activation lock turned off (for example, Find My iPhone/Activation lock/Anti-Theft Protection)? Once you answer these questions, you’ll get your estimated trade-in value.
  12. Choose how you want to be paid — instant credit, account credit, Verizon Wireless gift card or PayPal credit.
  13. Enter your name, address, phone number and email address.
  14. Review the details on your phone’s appraisal, read and accept the terms and conditions.
  15. Select the Complete button to finalize your trade-in.
  16. Follow the instructions to prepare your phone for trade-in and send it to Verizon within 15 days.

Verizon Upgrade Program

The Verizon Upgrade Program gives you the opportunity to upgrade to a new phone even before you’ve paid off your old one.

If you want to pay the full retail price of a new phone in one payment, you can upgrade your device at any time. But if you want to use a monthly payment plan, you need to be eligible for the program.

You can check your eligibility by logging in to My Verizon and going to the Devices section. If your phone is labeled Upgrade eligible, you can upgrade your device immediately. If you don’t see that message, click on the picture of your device and tap the Check Upgrade Options button to see your upgrade eligibility date.

You’re not required to purchase a new phone in order to upgrade. You can upgrade to a device that you already own.

When you upgrade your phone, you can either keep the mobile plan you’re currently on or you can also change your plan.

Can you upgrade your phone early with Verizon?

After you’ve owned your phone for 30 days, Verizon lets you upgrade select phones early if you’ve paid at least 50% of the retail price and the phone is in good condition. Many phones are on a 24-month payment plan, which means you can upgrade after one year.

To take advantage of the early upgrade option, you must buy a new qualifying device on a monthly payment plan and your account must be in good standing.

However, this offer does not apply to all phones. Eligible phones include:

  • iPhone 12, iPhone 12 Pro, iPhone 12 Pro Max, iPhone 12 Mini
  • iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max — if purchased before October 15, 2020
  • iPhone XS, iPhone XS Max, iPhone XR — if purchased before September 12, 2019
  • Samsung Galaxy S10 5G — if purchased before October 13, 2020

Verizon upgrade deals

You can choose from a couple of Verizon upgrade deals when you’re ready to move into a new phone.

  • iPhone 12 Mini — With this deal on the 64 GB iPhone 12 Mini, you’ll pay less than $12 a month with the selection of an unlimited plan.
  • $250 off — You can receive up to $250 off select phones when you upgrade.

The bottom line

Whether you’re looking to trade in or upgrade your phone, Verizon makes it a simple process you can do right from the comfort of your home. You can even find out the trade-in value of your phone before you send it in. Verizon makes it easy to always stay up-to-date on the latest cellphones.

By Laurie Garrison

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