Verizon will take your broken handset and give you up to $1,000 off the purchase of a new 5G phone

Verizon announced today that starting on April 1st (which is April Fool's Day), consumers can trade in a cracked or water-damaged phone and get up to $1,000 off its best 5G phones. There is a caveat, the customer must port over his existing phone number and select an Unlimited data plan. Now, we admit that it sounds suspiciously like an April Fool's joke except that Verizon denies this and even included the hashtag #No Joke to its press release.

As Big Red says, "Since you broke your phone, we broke the rules. Got an old, shattered or otherwise discarded phone on your hands? Then we've got a deal for you. Beginning tomorrow, April 1, and for the first time ever, for new and existing customers: trade in your cracked or water damaged phone and get up to $1,000 off our best 5G phones with a port-in and select Unlimited plans1. That means cracked, broken, and even phones that no longer turn on can help make your next device more affordable. Yes, we know it’s April Fools’ Day, but trust us -- this offer is #NoJoke. Act now, though, because this offer is only available for a limited time."

After turning its back on T-Mobile's aggressive style of promotion, Verizon is attempting to pull off a blockbuster promotion in the style of its top rival going as far as saying, "You broke your phone, so Verizon is breaking the rules." But there are some rules. The "up to $1,000 credit" will be split between monthly invoice credits and a $300 Verizon gift card. A busted iPhone 8 will be valued at $1,000 when being traded-in for an iPhone 12 model. An iPhone 7 or older will be worth $700 and less.

Starting on April 1st, you can check out Verizon's website for more information about this deal. Meanwhile, the carrier says that it now offers appointments to shop in its stores. You can make an appointment by going to Verizon.com/stores, use the My Verizon app, or walk into a Verizon store. The nation's largest wireless provider states, "The safety of our customers and employees is always our top priority: we continue to review new and emerging health guidelines and, until health experts and science show us it’s safe to do otherwise, we will continue to operate with our Touchless Retail standards in place, maintaining social distancing and face coverings for both our V Team and our customers."

We should point out that the Dynamic Spectrum Sharing that Verizon uses to deliver low-band 5G nation wide is actually slower than its 4G service. Verizon decided to focus its 5G build out on its mmWave 5G Ultra Highband service. This delivers the fastest 5G download data speed in the U.S. but is only available in 31 cities.

"At Verizon, not only do we give you our best trade-in offer for your broken phone, we give you our best value," says the carrier. "And you’ll trade up to not just the shiny new 5G phone you want, but also to the 5G network you deserve. We’re rolling out 5G in more cities and more places, which means there’s no better time to upgrade to that new 5G device you’ve had your eye on. And for all of your content needs, get- Disney+, Hulu, and ESPN+ included on Play More and Get More Unlimited plans. Play More and Get More Unlimited plan customers can also get up to 12 months of discovery+ on Verizon - that’s a whole lot of content for all your streaming needs."