I bought the S6 last month on the edge plan and then accidentally destroyed it within the first month I had it. This video is the fallout of the situation.
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“Last month, I bought the Samsung Galaxy S6.
Since I knew I was going to make videos with it, I got the 128 gb memory which had a full retail price of $800.
I could sign a new 2 year contract with Verizon and pay $450 on the spot and receive a $50 mail in rebate, so overall I would have been out $400.
Or
I could get on this fancy phone payment plan Verizon calls “edge”.
On the Edge plan I would pay the full retail price of the phone over 24 months, but I would get a discount on my phone bill for $15 a month. This way I could spread out the cost of the phone over two years and would theoretically end up paying $19 a month, or $442 for the phone.
Now insurance cost about $11 a month, and would have added $264 to the $442 payment plan. Making a grand total for the phone of $706.
Ok so the full retail price of the phone was $800. On the edge plan I could pay $442 over 2 years. If I added insurance to the edge plan, it would cost $706. Or I could renew my contract and pay $400 the day I got the phone.
So I didn’t get the insurance, I didn’t sign a new 2 year contract, and opted for the edge plan thinking I was spreading out a $442 payment over two years. But then last week when I jumped into a pool with the phone in my pocket. After swimming for 5 minutes, I realized it was there. I put it in rice, I soaked it in alcohol. I even took it completely apart to see if I could notice any burnt out components. No luck, the phone is dead.
Since I destroyed my phone before making a single payment on the edge plan, in order to replace my phone, I first have to pay off the remaining balance. The full retail price of $800. See since I have had the phone for less than one month, I haven’t yet received the benefit of the monthly bill discounts that make the edge plan so attractive in the first place.
Now had I got the insurance I would still have a $150 deductible, but since I wouldn’t have made an insurance payment yet I would only be out $600. But…I didn’t get insurance. So it doesn’t matter.”
Music by Red Shirt Beats, check him out on soundcloud (https://soundcloud.com/redshirtbeats). Used under common attribution license http://creativecommons.org/licenses/by/3.0/
