Verizon's monthly installment payment program lets you pay for devices (e.g., smartphones, basic phones, tablets, smartwatches) over a specified time period with 0% APR and no finance charges or 2-year customer agreements.
The device payment program:
- Requires that you enter a device payment agreement to pay for the device in monthly payments until the device is paid off.
- You can choose to pay the installments over the full period of the term or pay off the device's total price any time.*
Keep in mind:
- When you pay off your device agreement, any monthly promotional credits you're getting for that device will stop.
- A $20 fee is charged when you activate a new line or upgrade your device through the My Verizon app or My Verizon online (the activation fee is $40 if you activate or upgrade in a store or by phone).
Your specific terms and payment amounts are shown in your first bill and your device payment installment agreement.
*If it's still within the device's 14-day return and exchange period then you can only pay off the device in a Verizon retail store.