Note, your savings will be credited to your account as recurring payments over 24-months beginning within 2-3 cycles. Qualifying phones include iPhone 6, 6s and 6s Plus are eligible for promotional value of $650.
- Purchase a new iPhone 7 or iPhone 7 Plus with monthly device payments
- During checkout, select the option to trade in your old device, or if you wish to trade in your device at a later time, log in to My Verizon and select "trade in old device."
- After you have completed your trade-in appraisal, you will receive a box to return you old device.
Editor's Notes & Price Research
Trade-in must be in good working & cosmetic condition. $649.99 on device payment req'd. Less $650 trade-in credit, ends when balance paid; 0% APR. Line must be active for 2-years for full credit. Refer to the forum thread for full details - Discombobulated
Verizon just posted a banner stating that they're offering a free iPhone 7 with trade-in. Specifics aren't posted yet, but it looks like they're matching T-Mobile's deal! Great news for Verizon users!
Trade-in values posted on VZN Reddit:
iPhone 6/6s- $650
iPhone 5/5s/5c/SE- $400
You have to enter an MEID/IMEI number when entering your trade-in online before you are given a trade-in value. Value assumes iPhone works in decent condition.
Edit: Fine print on trade-in:
Talked to CSR and they said that the payments will be tied to the IMEI...so don't break it, loose it, etc or you are SOL-----------
*Nothing indicates that in the actual terms: DPP must be active for 2 yrs. for full credit.
"The trade in value is issued over 24 months and will appear in 2-3 bill cycles after trade. Your iPhone 7 must remain active on Device Payment for 24 months to receive credits. If you cancel service, or if device payment agreement is paid off or transferred, trade in promotional credits will stop. Traded device must be in good working and cosmetic condition to receive credits"
So you have to be with VZN for 24 months on the installment plan to get the full $400/$650 credit.
When upgrading to the new iPhone, there is a $20 upgrade/activation fee (the rep might be able to waive this if you ask - worked for me, but YMMV) and you are not reimbursed for the sales tax you paid on the initial purchase of the phone.
This is not going to work for people trying to get an iPhone 7 to turn around and sell. Ditto for people who leave VZN before 24-27 months as the credits do not start immediately.
Promotion ends 9/30/2016
Added terms and conditions: http://membershipwirel