First off, my whole family have been Samsung fans and not for sure the venue for this but this is my issue.
A year ago i decided to try getting phones straight from Samsung under their promotion of 24months 0% financing and upgrading after 12 months. I purchased my phone, 12 months later i owe $522 on it and Samsung offered $600 credit towards trade-in/upgrade. I took the offer on a new S20+. I was under the assumpion that the $600 would pay off the $522 balance and the remainder go against the $1399 purchase price of the new phone and be financed for 24months at 0%. Well what they didn't tell me is that they reduced the price of the new phone and financed for 24 months, but did not pay off the old phone which i still have to pay for another 12 months which makes my payments about $25 more combined. Had i known this was they way they were operating i would not have made the deal. Now i can't get my old phone back and am stuck. I tried chatting with customer service but they basically said sorry, they can't do anything and too bad we don't care.
If i don't get any resolution i suppose my family is small time to Samsung but we will will no longer purcase their products. Anyway, i know i should have looked deeper into the deal but i feel it was misleading. thanks for reading such a long post.
Well I'm sorry to hear that however for future reference when you upgrade your line and trade in your old device it's best to make sure your old device is paid off. The situation it seems as you explained is that you are now making payments on both devices. The trade in credit that you received goes only towards your new phone. You purchased the S20 Ultra so the financing price went down from $1399 down to $799.
That may be true but the reason i started this through Samsungs website was the advertisement that I could get a phone for 24 months financing at 0% but could upgrade after 12 months and recieve 50% or more back on trading in the old phone which in essence is paying it off to make the new purchase. I did not see anywhere where it said they would not apply that to the old phone to start the new one plan. Like i said, at the time it led me to believe that if i kept my old phone in good shape i could trade in after 12 months and start over.
Sorry that you are in this situation. Perhaps the wording on the offer could be clearer but they do expect you to trade in a phone which has been paid off.
So if they would have done what you expected you would have gotten $78 off the new phone after they paid off the old phone. That would have made your payment $55.05 (($1399 - 78)/24) for 24 months. A total outlay of $1321.
Your current situation is paying $33.30 for 24 months on the new phone which is a total of $799. Plus your current $522 loan for 12 months. Which is a total outlay by you of $1321.
True, in the end it is the same, but for the first 12 months the payments are almost $78 a month vs $55. I know that sounds small but it is significant. Like you said, it could have been more clear so thats why i feel i was misled. I would not be so bitter if it had just applied it to the old phone vs the new one especially if in the end it amounts to the same, it just makes a bigger difference to those on a budget. I just need to make sure my family and friends realize this before they decide if they want to go through Samsung or stay with other phones through their carriers. For instance my son in the AF needs to know since i had been talking up Samsung this past year up until i realized what was going on.
Thanks for your response though.
That's usually how trade-ins work. The device you are trading in goes towards the new device. It said this on there website as well when it asks what device you are trading in. Then it tells you how much its worth and that money goes towards the new phone. Trade-ins and upgrades are different. Now if you're upgrading your phone like through a carrier for example, they pay off the rest of what's owed on the old phone and then sell you the new phone. Sorry this happened to you but I hope this helps.
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I get that now and that is useful to know. I have always dealt with carriers in the past so i assumed this was the same. I know now it is not thank you. I will just pay it off and go back to carriers in the future