• Motorola's new Razr is a considerably expensive midrange device at $1,500
  • To entice more consumers to buy it, Motorola and Verizon have launched a trade-in program
  • The program will slash hundreds off the device's original price

Some consumers might think the new Motorola Razr costs too much for a midrange device. At $1,500, the reboot of the iconic clamshell costs more than two iPhone 11 units. The expensive price and midrange specs might drive some consumers away and cause them to wait for Samsung's upcoming better-specced foldable instead.

In order to entice more consumers to consider buying the new Razr, Motorola has launched a trade-in and carrier switch program that will, in effect, slash hundreds of dollars with every purchase of the new device, Android Central reported.

Motorola and Verizon are offering up to $500 off on a new Razr for buyers who trade-in an eligible device. What's more, those who aren't using Verizon will be given an additional $200 Mastercard when they make the switch to the carrier

Here's how to receive the $200 Mastercard and the $500 price slash:

First, interested buyers should add a Google Pixel 4, Pixel 4XL, LG V50 ThinQ, LG G8 ThinQ or Motorola Razr smartphone with monthly device payments to their cart, then activate on a new smartphone line of service with Verizon Unlimited.

Second, buyers will then need to proceed to a website indicated in Verizon's website, then enter a promo code and their credentials when prompted. Buyers who made the switch will receive the $200 Mastercard within eight weeks.

To get additional $500 off, buyers will need to trade-in their old device within 30 days after buying the new Razr. Here's a list of devices that can be traded-in for $500:

  • iPhone 11, 11 Pro and 11 Pro Max
  • iPhone X
  • iPhone XR, XS and XS Max
  • iPhone 8 and 8 Plus
  • Galaxy S10, S10+, S10e and S10 5G
  • Galaxy S9 and S9+
  • Galaxy Note10, Note10+ and Note10+ 5G
  • Galaxy Note9
  • Pixel 4 and 4 XL
  • Pixel 3 and 3 XL
  • LG G8 ThinQ
  • LG V50 ThinQ

Those who don't have the above devices can trade-in the following and still get $350 off:

  • iPhone 7 and 7 Plus
  • iPhone 6s and 6s Plus
  • iPhone 6 and 6 Plus
  • Galaxy S8, S8+ and S8 active
  • Galaxy S7, S7 edge and S7 active
  • Galaxy S6, S6 edge, S6 edge+ and S6 active
  • Galaxy Note8
  • Galaxy Note5
  • Galaxy Note4
  • Pixel and Pixel XL
  • Pixel 2 and 2 XL
  • Pixel 3a and 3a XL
  • LG G7
  • LG G6
  • LG V40
  • LG V30
  • DROID Turbo 2
  • moto z4
  • moto z3
  • moto z2 force
  • moto z2 play
  • Hydrogen One

The trade-in amount will be credited to the buyer's account over 24 months.

Motorola Razr
The new Razr. Motorola US/YouTube