Did you pre-order the Galaxy S7 or Galaxy S7 edge before the worldwide release? Are you thinking about purchasing the Galaxy S7 or S7 edge, now that they’ve been released in stores within the US and the world? If you’ve been holding out for early reviews, word-of-mouth, or a few peripheral questions you’ve been wanting to ask, well, you can now order either of Samsung’s new beauties from Verizon Wireless. The nation’s largest and most reliable carrier is now giving customers a new reason to jump on installment plans: a new Verizon Annual Upgrade Program.
The Verizon Annual Upgrade Program will allow new Galaxy S7 and S7 edge customers who either 1) pre-ordered the device (the pre-order period is now gone; been gone since March 11th) or 2) purchase or lease the devices via Verizon’s new installment plans will get the privilege of being added to the Annual Upgrade Program whereby they’ll be eligible to upgrade each year with each new Galaxy S device once 50% of the device has been paid off. Verizon says “when more than 50% of the device has been paid,” but the carrier doesn’t detail exactly what this means. I suppose you could pay off slightly over 50% and still get the privilege of upgrading.
I’ve spoken with Verizon representatives in days past (four months ago, to be exact) who told me that you could pay off $300 of a $700 device, but need only pay an additional $200 off the remaining $400 to upgrade (in short, pay $500 of $700). This puts the payoff price at about 78%, but, then and again, you’re paying only $500 instead of $700. You forgo paying the remaining $200, but you are forced to trade in your device instead of getting $200 for it. You can also trade in your current device (though it must be in working condition), and you’ll also get an additional 2GB of 4G LTE data each month for the life of the line if you switch to Verizon and trade in your device at the same time. You can find out more details below.