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.