How Does Upgrading Your Phone Work?

Most carriers don't require you to pay an upfront down payment before receiving your phone and beginning the repayments. Once you reach the minimum number of months in your upgrade plan, and provided you've made all your repayments, you will be invited to swap your phone for a new one.

What does it mean when you upgrade your phone?

What is an Upgrade? Basically, what phone companies like Verizon and AT&T mean when they say “you are eligible for an upgrade” is that you have been a loyal customer for long enough that they're going to give you a new phone for almost nothing, which is, of course, a great reason to stick around until that time comes.

Do you have to turn in your old phone when you upgrade?

If you want to upgrade after the 18 months but before the phone is paid off, then you must return the phone.