Equipment service agreement verizon

Verizon's monthly installment payment program lets you pay for mobile devices (e.g., smartphones, basic phones, tablets, smartwatches) over a specified time with 0% APR and no finance charges or customer agreements.

*If it's still within the device's 30-day return and exchange period then you can only pay off the device in a Verizon retail store. When you pay off your device agreement, any monthly promotional credits you're getting for that device will stop.

What are the installment terms for device payments?

Device payment terms are 36 monthly installments for these devices:

Your specific terms and payment amounts are shown in your first bill and your device payment installment agreement.

If you had a 24-month or 30-month device payment agreement before 2/3/22, your terms will stay the same.

I'm a Verizon wireless customer. Can I buy a device under a device payment agreement?

You can use device payments to buy a device, when you're:

Can I get device payments without sufficient US credit history if I have international credit history?

We’ve made it possible to use credit from select countries to take advantage of Verizon's device payments. Learn how you can apply by visiting Use your international credit to finance a Verizon phone FAQs.

How many devices on device payment agreements can I have on my account?

You can have as many device payment agreements as the number of active lines you have on your account, as long as you don't go over your financing limits.

If you go over your financing limits, you may be required to pay a security deposit when trying to add more device payment agreements to lines on your accounts.

Visit the Devices page in the My Verizon app and My Verizon website for options to add lines of service on your account.

Can I have a device payment agreement without an active Verizon wireless mobile number?

No. You must have an active Verizon wireless mobile number to have a device payment agreement.

If you disconnect a mobile number that has an active device payment agreement, the remaining balance of that agreement is due on your next bill.

Are devices bought with a device payment agreement covered by warranty and by Verizon's return policy?

Yes. Devices bought with device payments are covered by the same return policy and come with the same warranties as devices paid for all at once:

I'm a Verizon wireless customer and got a letter about not being eligible for the device payment program. How can I improve eligibility?

The device payment program is an installment agreement in which you pay for the device over time. That’s why we check for financial good standing on any account in your name.

To improve your ability to use our device payment option:

For your convenience, you can make a payment online on the Pay bill page in My Verizon.

Can I add insurance or other device protection options for a device I bought under a device payment agreement?

Yes. You can enroll in insurance and other device protection services to guard against loss, theft, accidental damage, and certain post-warranty defects. Learn more about our Device Protection programs.

Do Verizon's Return and Exchange Policy and a 1-Year Warranty apply to devices purchased under a device payment agreement?

Yes. Devices on the device payment program are covered by these policies.

Why does the device payment program require 2 agreements?

To buy a device with device payments you must agree to both the:

What's a Device Finance Limit? How does it affect using the device payment program?

Your account is assigned 2 finance limits that are based on your credit history:

During the device payment set up, you'll see the "device finance limit" displayed with a dollar amount. This is the maximum amount you can finance with device payments.

Each line on your account has the same device finance limit that can be used until you reach your total account finance limit.

If you choose a device that costs more than the device finance limit, you pay the difference at the time of purchase.

When I bought a device I agreed to have Verizon store my credit/debit card information. Is the card information deleted when my device payments are finished?

If you agreed to the Backup Payment Agreement when you placed your order, that means we stored your credit/debit card information and can use the information for any full or partial balance due if your account enters Final Bill Default.

This encrypted information is:

Can I pay more than my scheduled monthly device payment installment?

No. The only exceptions to making additional payments are:

Learn about Unlimited Ultimate. Includes access to our best phone deals, guaranteed**. After you switch or pay off your device you have access to our best device deals every 36 months or when your device is paid off, as long as you have Unlimited Ultimate.

*If it's within the device's 30-day return and exchange period then you can only pay off the device in a Verizon retail store.
**Your line must stay on Unlimited Ultimate for a full 36 months to get the best promotional discounts. If you change to any other plan you lose the rest of the promotional value.

How can I view my remaining device payment balance?

To see your remaining device payment balance sign in to My Verizon to view your Device Overview page. Select Manage to view the remaining balance for that device.

How can I pay off my device payment agreement early?

You can pay off your device payment agreement any of these ways:

What happens to my monthly device payments if my device is lost, stolen or damaged?

If your device is lost, stolen or damaged, you're still responsible for your monthly device payments until the agreement is paid in full.

I lost my phone and suspended its service. How can I pay off the suspended phone so I can get a new one?

You can pay off a device that has suspended service the same way you pay off any device that has a device payment balance.

If I voluntarily suspend service to my device, am I still required to pay the monthly installments?

Yes. If you voluntarily suspend service to your device (with or without billing), you still receive a monthly statement with your device payment charges. The charges are due according to the payment schedule on your device payment agreement.

If your line is suspended under our Military Service Policy, you won't be billed device payments during the military suspension (limit for military suspend is 3 years and 90 days) and your payments resume when you return from military service.

What happens after I make my last device payment?

When you pay off your device:

I paid off 100% of my device. Can I trade it in and use the trade-in value toward a new device under a device payment agreement?

Yes. You'll receive the value for the trade, and you can use the balance toward the purchase of your new device, to purchase accessories, or to pay your Verizon wireless bill. However, you can't use the trade-in value to reduce the retail price of the new device.

What are the line access costs for devices on monthly payments if I have the MORE Everything Plan?

Lines with an active device payment agreement on the MORE Everything Plan* get a credit on monthly access charges:

*The MORE Everything plan can no longer be added to accounts.

I just bought a new device with the device payment program. What will I see on my monthly bill?

Your first bill after signing up for the device payment program might be higher than you expect because it could be prorated. For example, if you changed your plan when you upgraded, you may have plan charges and credits that went into effect the day you upgraded.

Normally, your bill shows:

You can find your device payment plan charge, balance remaining (and credits, if any) in the Bill details about your device:

Why am I being billed for the remaining balance of my device payment agreement?

Your remaining balance may be billed to you for any of these reasons: