How to Lease iPhone on Verizon

How to Lease iPhone on Verizon: A Comprehensive Guide

Are you eyeing the latest iPhone 13 or iPhone 14, or are you aspiring to get your hands on the upcoming iPhone 15 and considering Verizon for your lease? You’re not alone. Many Apple enthusiasts and tech consumers consider leasing options to enjoy cutting-edge technology. This comprehensive guide walks you through leasing an iPhone on Verizon.

Leasing an iPhone from Verizon can be smart, offering many benefits, including lower upfront costs, affordable monthly payments, and access to the latest models. And with Verizon’s renowned network coverage, you’ll enjoy seamless connectivity too. 

Understanding iPhone Leasing on Verizon

Explanation of leasing vs. buying

Leasing an iPhone means paying for the right to use it for a certain period, after which you may have to return the phone or pay a residual value to own it outright. In contrast, buying gives you immediate ownership but requires a larger upfront cost.

Overview of Verizon’s leasing program

The Verizon device payment program, formerly Verizon Edge, offers a convenient leasing structure. You can split the retail price of an iPhone into manageable monthly installments, making it easier to upgrade and maintain the newest technology.

Eligibility requirements and device options

To be eligible for Verizon’s leasing program, customers must possess good credit standing and sign a device payment agreement. Adding a line or upgrading is subject to credit approval and may involve a down payment if the spending limit is exceeded.

Steps to Lease an iPhone on Verizon

Research available iPhone models

Begin your journey by exploring which iPhone models are available for lease. Consider the features that are most important to your camera quality, screen size, or a specific color.

Check eligibility and credit requirements.

Visit a Verizon store or check online through My Verizon to see if you’re eligible for an upgrade or to add a new lease agreement.

Choose a lease plan and payment options.

Verizon offers several plans, such as Verizon myPlan Unlimited Plus and Verizon myPlan Unlimited Welcome, which can influence your monthly access charges.

Complete the lease agreement and order process.

Once you’ve chosen a plan and an iPhone model, you’ll sign a device payment agreement. A $30 activation fee is applied for new lines and a $30 upgrade fee for existing lines.

Benefits of Leasing an iPhone on Verizon

Lower upfront costs and monthly payments

The installment method spreads out the price tag of a high-end iPhone over several months, relieving you of the pressure of a one-time payment.

Access to the latest iPhone models and upgrades

With Verizon’s lease program, upgrading to newer models is straightforward, ensuring you always have the latest iPhone in your hand.

Added benefits and services from Verizon

Leasing an iPhone on Verizon comes with perks, including unlimited data plans, mobile hotspots, and international messaging options.

Considerations and Tips for iPhone Leasing

Insurance and protection plans

You can and should invest in insurance or equipment protection services for peace of mind against loss, theft, and damage.

Return and upgrade options

Be sure to understand the return policy that governs your lease terms. You may be required to return the device in good condition or pay a residual value to keep it.

Understanding lease terms and conditions

Carefully read the fine print. This includes recognizing monthly line access charges, which vary according to your plan, and the implications of service suspension on lease payments.


Leasing an iPhone on Verizon is an excellent way to indulge in Apple’s latest tech without the hefty price tag. Keep abreast of the specifics regarding Verizon’s device payment options and upgrade policies, and never hesitate to contact Verizon Customer Service if questions arise.

Now that you know how to navigate the leasing landscape, it’s time to take that next step. Whether it’s the iPhone 14 Pro Max or its predecessors, Verizon offers many plans to accommodate your tech needs. So, upgrade your tech arsenal with a lease that works best for you.

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