Verizon has launched a new promotion today, where you can get up to $1,000 for trading in a broken smartphone. Whether the screen is cracked, it has water damage, or just plain doesn’t work anymore. Verizon will gladly take it off your hands.
What’s the catch here? Well, Verizon is looking to get more people onto 5G smartphones and their new “premium” plans. So by trading in your broken smartphone you will need to get a 5G device, and move to the higher-priced unlimited plans like Do More, Play More or Get More.
New customers get the best deal here. As they’ll get up to $1,000 when they switch to Verizon. Or when current customers add a line. Current customers will get up to $440 in credits toward a new 5G smartphone.
This deal will start on Thursday, April 1. And no, this is not an April Fool’s Joke, Verizon has made sure to confirm that multiple times in its press release.
Not every broken phone will be eligible
Unfortunately, there is some bad news here. As not every broken phone is eligible for this promotion. However, you will be able to check what the value is of your phone on Verizon’s website. Older smartphones like the Galaxy S7, iPhone 6S or iPhone 7 will get you $100. While newer smartphones will get you $440. Those include the Galaxy S8, Galaxy S9, or Galaxy S10, among others.
While it’s not the best promotion for customers, this is a great one for those with broken phones. Typically broken smartphones are worth nothing on trade-ins. As carriers can’t turn around and re-sell them as a refurbished model. So for customers, they can now get a decent credit for their broken phone. And it might actually get some to upgrade to a new phone.
For Verizon however, it’s all about getting you onto 5G, and charging you more per month for its higher-end unlimited plans. Let’s keep in mind that the credit here is in the terms of bill credits, so you do need to stick with Verizon for the full 24 months to get all of your money back.