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Killer iPhone 12 deal — save $550 at Verizon right now

iPhone 12 deal
(Image credit: Tom's Guide)

If you're hoping to get an iPhone 12 or iPhone 12 Pro through Verizon and you want to enjoy big savings, now's the time to act as iPhone 12 Black Friday deals are ramping up.

Verizon is currently offering up to $550 off the iPhone 12 for customers who switch to Verizon. All they have to do is trade in an eligible smartphone and sign up for an eligible data plan. (You'll want to get an unlimited data plan from Verizon, anyhow, as that includes 5G service for the 5G-capable iPhone 12.) Verizon's offering the same $550 discount on the iPhone 12 Pro. That's one of the best Black Friday deals we've seen for Apple's new phone. 

iPhone 12: up to $550 off @ Verizon
Verizon will knock up to $550 off the cost of the $799 iPhone 12 or $999 iPhone 12 Pro if you trade-in an eligible phone, switch to the carrier and sign up for a qualifying data plan. Existing customers can get up to $440 off when they trade-in a phone.View Deal

Existing Verizon customers looking to upgrade their phone needn't feel left out. Trading in your phone and having an eligible plan can net you up to $440 in discounts.

The catch is you'll have to buy your new iPhone on an installment plan. Verizon's discount appears in the form of bill credits spread out over 24 months.

So why hurry if you want these particular savings? Verizon says its iPhone 12 and iPhone 12 Pro offer ends Nov. 5. That gives you less than 48 hours to claim the deal.

The timing should be no surprise. On Nov. 6, pre-orders start on Apple's remaining iPhone 12 models — the iPhone 12 mini and iPhone 12 Pro Max. Wireless carriers, including Verizon, are expected to offer deals on those 5.4- and 6.7-inch iPhones.

But if you prefer a 6.1-inch handset, either the iPhone 12 or iPhone 12 Pro are the phones to get. Both feature Apple's A14 Bionic processor as well as 5G connectivity. The iPhone 12 Pro includes a dedicated telephoto lens as well as a LiDAR sensor, but the iPhone 12 is the less expensive of the two phones.

Follow our iPhone 12 deals page for all the latest ways to save, including any iPhone 12 mini and iPhone 12 Pro Max pre-order deals that emerge in the next couple days.