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Verizon Wireless Device Payment Plan explained

The new Verizon Wireless Device Payment Plan went live yesterday, April 21, 2013. It’s clear to see these new deals have been getting some criticism, because while it benefits some customers, others feel as though they are hard done by. Upgrade cycles have now been increased to 2 years, and there is now no sign of a 1-year contract.

One such deal will allow qualified Verizon customers to purchase a smartphone or tablet at full price, as long as it’s over $349.99, but you will be able to spread payments over a 12-month period — ideal if you cannot afford to purchase the handset outright. Again, you will need to be eligible for this Verizon Device Payment Plan. However, as yet we have no idea how Big Red will determine this.

Your first of 12 monthly payments will need to be paid upfront and will include the $2 per installment finance charge, which is $24 in total. If you have the means to pay your handset or tablet in full before the 12-month period ends, you can do so. Verizon tells us that this deal does not affect your current contract.

If you wish to keep your unlimited data plan, then you can do so by going for this new Verizon Wireless Device Payment Plan instead, which is considered to be a bit of a bonus. Customers can have two Installment Plans at any one time.

Are you interested in this plan? Some people have already said that T-Mobile has a much better model, as you can pay your smartphone or tablet off over a 24-month period instead. T-Mobile also has cheaper tariffs as well, although it’s worth remembering that Verizon’s network is considered to be of far better quality, but would you agree?

We just need to add that if you live in a Metro area then T-Mobile has the edge, but if you live in the sticks then Verizon will come into their own.

Full details of this new plan can be seen by visiting the Verizon website.

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Written by Peter Chubb

Peter has been writing on Product-Reviews since 2007 and in that time much has changed for him, like his hair having more grey than brown now. He loves gadgets and cars, and gets excited when big events come up, such as CES and the big auto shows.

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He started out working in a factory and dreamed of the day when he could become his own boss; That happened back in 2002 and he has never looked back since. Things have changed so much on the Internet in that time, but he has adapted well.

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