If you are looking to get an iPhone 12 or iPhone 12 Pro through Verizon and want to enjoy big savings, now is the time to act, as Black Friday deals on the iPhone 12 are surging.

Verizon is currently offering up to $550 off the iPhone 12 for customers who switch to Verizon. Simply trade in your qualifying smartphone and sign up for a qualifying data plan. (You'll want to sign up for Verizon's unlimited data plan anyway, since it includes 5G service on the 5G-enabled iPhone 12.) Verizon is offering the same $550 discount on the iPhone 12 Pro. This is one of the best Black Friday deals we've seen for Apple's new phone.

Existing Verizon customers looking to upgrade their phones need not feel left out. Having a deal and an eligible plan on your phone can net you up to $440 in discounts.

The catch is that you need to purchase a new iPhone on an installment plan. The Verizon discount comes in the form of a billing credit over a 24-month period.

So why the rush if you want these extra savings? According to Verizon, the iPhone 12 and iPhone 12 Pro promotion ends November 5. That means you have 48 hours to take advantage of this promotion.

The timing is not surprising; on November 6, reservations for Apple's remaining iPhone 12 models, the iPhone 12 mini and iPhone 12 Pro Max, will begin. Wireless carriers, including Verizon, are expected to offer deals on these 5.4-inch and 6.7-inch iPhones.

But if you prefer a 6.1-inch device, you should get either the iPhone 12 or the iPhone 12 Pro. Both feature Apple's A14 Bionic processor and 5G connectivity. iPhone 12 Pro has a dedicated telephoto lens and LiDAR sensor, but iPhone 12 is the cheaper of the two models.

The iPhone 12 deals page offers the latest deals, including pre-order deals for the iPhone 12 mini and iPhone 12 Pro Max.