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Every time you buy a new phone, you’re so excited and fascinated of it, but after a few months, when new models arrive on the market, you’ll start to get bored of your device and want to buy a new one. Luckily, Verizon’s new Annual Upgrade Program will help you get rid of the old phone, by upgrading to a more impressive gadget, but you’ll need to meet several requirements.

The Annual Upgrade Program has made its debut and the customers who will preorder the Galaxy S7 or Galaxy S7 Edge, will be on this program. Verizon, the carrier who came up with this idea will allow the users to upgrade their devices after paying off more than 50 percent of their total price and they can’t pay in advance if 30 days haven’t passed since they’ve purchased their phones. Only after meeting these requirements, the subscribers are able to pick up a new smartphone and choose a plan that suits their needs.

Verizon is trying to convince other carrier subscribers to switch from their wireless companies by offering them a $100 discount when activating a new Galaxy S7 or S7 Edge, and if the current subscribers will want to trade in their previous Galaxy S6 and buy the new model, they will receive up to $300.

Verizon knows how to attract new customers, by offering 24 GB of data, every year, for life, as a bonus, and when switching from another carrier, the new subscribers get $650, to get rid of the contract they signed with other companies. This is a compromise that Verizon is willing to make, in order to help potential customers to get out of an “unhealthy relationship”.

In addition, when trading in an iPhone 5s, Samsung Galaxy S5, Note 4, Motorola Droid Turbo or Turbo 2, the users will receive $200 and the $300 offer applies to Apple’s iPhone 6, iPhone 6 Plus, Samsung’s Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Note 5 and LG V10.

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