Verizon is advertising a deal where you can get up to $1,000 off a new iPhone (like the 16 Pro) when you trade in your old phone — sounds amazing, right? I almost did it, but when I ran the numbers, it turned out to be a lot less valuable than it seems.

Here’s how it actually plays out: • I currently have an iPhone 14 Pro Max 256GB, which has a resale value of around $600 in excellent condition (not $700–$850 like I previously thought — sorry for the overestimate). • I’m on Verizon’s Unlimited plan with a $15/month BYOD (bring your own device) discount, and my total bill is $195/month. • If I do the trade-in: • Verizon removes my $15/month BYOD discount • They charge me $2.77/month for the new phone (after applying the $1,000 trade-in credit over 36 months) • My new monthly bill becomes $212.77

That’s a $17.77/month increase Over 36 months = $639.72 extra paid over time

So I’m “saving” $1,000 on the iPhone… but paying $640 more on my bill, which is basically just another way of financing the phone over 3 years.

And I’m giving up a phone worth $600 to do it.

$640 ÷ 36 months = $17.77/month — almost exactly what it would cost to finance the iPhone yourself without losing your BYOD discount or trade-in device.

Bottom line: Verizon’s “$1,000 off” is just a shell game: • They give you $1,000 in bill credits • But quietly raise your monthly bill in ways that offset most of it • And you lose flexibility (e.g., switching carriers = lose remaining credits)

If you sell your phone and buy a new one directly from Apple, you keep more value, avoid hidden bill increases, and don’t get locked into a 3-year commitment.

Don’t fall for the fine-print math — it’s not a “free iPhone.” It’s a clever upsell wrapped in shiny marketing.

Does anyone know when the end date is? I would like to take advantage of the deal but I was hoping to wait until the next billing cycle. I don’t know how long these deals have lasted in the past but I haven’t seen an end date anywhere Ive looked. Thanks

So I just noticed that all my lines have an option to trade-in any phone and get $1000 off a new phone. I verified with IMEI and my old iPhone 4s and 5s both qualify for trade-in. I had been waiting for the iPhone 16 Pro to be released (currently on an iPhone 13 Pro). Do I wait 2 months and hope this offer is still on my account? Or do these offers disappear after some time? Anyone with experience on this?

EDIT: For everyone who keeps telling me I can't trade-in a really old iPhone. I just put in an order for an iPhone 15 Pro with a iPhone 4S as a trade-in.

https://i.imgur.com/wx9fOBK.png

EDIT2: I just upgraded another line and was able to trade-in an iPhone 3G for $1,000 credit, lol

EDIT3: I ended up upgrading 5 devices on my family plan. I got four iPhone 15 Pros and one iPhone 15 Pro Max. I didn’t have to upgrade my plan on any lines. I’m trading in an iPhone 3G, iPhone 4s, iPhone 5s, iPhone 6s (cracked screen), and iPhone SE (1st gen).

EDIT4: So yes, it does appear this morning that the deal is gone. I had one person out of six on my family plan that didn't want to upgrade and now the deal is no longer visible on their line. You can see in my bill estimate that I'm still on the same plan, my monthly bill for 6 lines went up about $14 ($124 to $138) which is mainly because of the difference is some of the iPhone Pros price $1099 or $1199 being above the credit of $999.99. I'm not currently looking to switch carriers because I already have a pretty low monthly bill (plus included Disney/ESPN/Hulu bundle on legacy 5G Play More) with Verizon but thanks for everyone's advice. Also, for everyone telling me that the Ultimate Unlimited plan is required, they explicitly state the requirements when you click on a promo as seen in this screenshot and in this case "Any Plan" qualifies.