The phone with the verision - Essay Example

Verizon Edge Verizon Edge is the latest technology in purchasing devices; it is a program where one can upgrade and pay for the device over 20 months rather than the initial total amount. The retail product of the device is divided into 20 monthly installments, and this appears on one’s bills. One can upgrade to a new device if after 30 days 60% of the total edge device cost has been paid off. There is no upgrade fee charged to upgrade for the individuals in this program. In the devices market, purchases may be done either in forms of agreements or the Verizon edge program.

Consider an iPhone purchase either through a two year contract and Verizon Edge. Purchasing through the agreement will cost an individual an upfront payment of $2325.90 while Verizon will take a 20 months installment of $110.65 giving the full payment for the device as $2213.78. The two-year agreement will however take an entire period of 24 months that is higher than that of the edge program making the agreement’s total monthly cost to be lower as compared to that of Verizon. Buying S5 using an agreement will cost an individual $2371 which is higher than $2159 charged for the Verizon Edge.

The monthly charges however reverse with that of Verizon being higher since the deal takes a longer period of 24 months as compared to that of Verizon, which takes 20 months. It is, therefore, evident that in the long run a Verizon Edge program saves much money as compared to a typical agreement and also makes upgrading easy. It is, therefore, recommended for individuals to register for this program and take advantage of this new technology.