{"id":9082,"date":"2023-08-06T07:43:24","date_gmt":"2023-08-06T07:43:24","guid":{"rendered":"https:\/\/isafespend.com\/budgeting\/phone-trade-in-vs-selling-which-one-pays-off\/"},"modified":"2023-08-06T07:43:25","modified_gmt":"2023-08-06T07:43:25","slug":"phone-trade-in-vs-selling-which-one-pays-off","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=9082","title":{"rendered":"Phone Trade-In vs. Selling: Which One Pays Off?"},"content":{"rendered":"
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\nFor many people, a cellphone is the most important device they own. So, the prospect of upgrading your phone to a newer (or simply a different) model can be exciting.\u00a0\n<\/p>\n

\nMany people trade in or sell their old phones to get some cash to help pay for their new device. There are advantages and disadvantages to trading in your phone or selling. Learn how to decide which is the better approach for you.\u00a0\n<\/p>\n

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How Does Trading in Your Phone Work? <\/span> <\/h2>\n

\nIf you’re buying your new phone through the manufacturer or your wireless carrier, the simpler option may be to do a trade-in.\u00a0\n<\/p>\n

\nTypically, you’ll get an estimate of how much the phone is worth, and the carrier will provide a prepaid return kit or a shipping label so you don’t have to pay to ship the device.\n<\/p>\n

\nOnce the carrier or manufacturer receives your phone, they’ll provide a final value based on the condition of the phone. Then, depending on the company, you may receive the credit for the trade-in in the form of a refund to your credit card, credit toward your new device, or a gift card.\n<\/p>\n

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\nNote<\/h3>\n
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Trade-in programs may not include older phones. Apple\u2019s trade-in program goes as far back as the iPhone 6s but doesn\u2019t include anything earlier than an iPhone 6.<\/p>\n<\/div>\n<\/div>\n

\nFor example, let’s say you want to upgrade your iPhone 11, replacing it with an iPhone 12. You’d start by visiting Apple’s trade-in page on its website, where you can see that the estimated trade-in value is up to $300.\n<\/p>\n

\nYou’ll answer a few questions about the device’s condition, year, and configuration. Apple will offer you an estimated trade-in price, along with several redemption options.\n<\/p>\n

\nIf you trade in your phone at an Apple brick-and-mortar location, you can choose an instant credit for an in-store purchase or a gift card. If you do the trade-in online, you can choose a gift card or a credit toward an Apple purchase that Apple gives you after <\/em>they receive your phone and inspect it.\n<\/p>\n

\nThe company will send you a prepaid shipping label or trade-in kit, which you’ll use to send the device. Once Apple receives the device, it’ll evaluate it, and you may get a revised estimate offer if the condition is different than what you described. At that point, you’ll have the chance to accept or reject the new offer.\n<\/p>\n

\nIf you accept, Apple will charge or credit the difference to your credit or debit card. If you reject, the company will return the phone to you at no charge.\n<\/p>\n

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Pros and Cons of Trading in Your Phone <\/span> <\/h2>\n

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How Does Selling Your Phone Work? <\/span> <\/h2>\n

\nSelling your phone instead of trading it in requires more legwork, but it could result in more cash in your pocket, which you can put toward your new phone or recoup some of its cost if you already purchased it.\n<\/p>\n

\nThere are several places where you can sell your iPhone or Android device, including:\n<\/p>\n