At what point in your contract can you upgrade a Verizon phone?

Under the Verizon Edge contract that the company offers as of 2015, customers can trade in their phones for an upgrade after 30 days and after paying off 75 percent of the equipment. The New Every Two equipment plan is no longer available.

If an older account is eligible for an upgrade, the account holder must purchase a new device with a contract extension and pay upgrade and service fees. Existing contract holders can join the Edge program, which provides them with a 15-percent discount on their monthly fees, but they have to switch their existing calling plan to the More Everything plan.