Published November 2nd, 2015, updated July 30th, 2016. Prices accurate as of July 30th, 2016.
The new iPhone release is about a month away, how can I get the max value for my old device with the least amount of effort?
With smartphone use at an all-time high, and the new iPhone release right around the corner – many of you will be looking to cash-in some of your old smartphones to pick up some spending money. Recent studies by the Pew Internet and American life project, 64% of Americans now own a smartphone. Smartphone technology is advancing rapidly, most of the major flagship manufacturers now release multiple new phones a year. With more and more people upgrading annually, the topic of cashing in on your old device rises to prominence.
For the purposes of this guide we will be covering solutions that do not require you to leave your house. Every major carrier has some sort of trade-in program available, and there are scores of retail stores that will pay you cash on the spot for your old phone. Typically, retail trade-in prices pale in comparison to online offerings – so, we won’t be comparing too many of those.
For pricing comparison, we will be using an iPhone 6s Space Gray from AT&T with 16GB of storage in average condition as our baseline.
Best Buy – $63.30
Gamestop – $325
AT&T Store Carrier Trade-In – $300
Gazelle – $280.00
Usell – $293
Nextworth – $300
BuyBack World – $325
Exchange It – $370.00
There’s More Than Just Price To Consider
If selling your phone online, you should be looking for a company that guarantees satisfaction. Some companies have policies in place that protect the customer by allowing the device to be returned free of charge if the original quote changes in any way.
Also, speed of payment may be of concern to you. Some sites give a general idea of how long it takes them to process a device. This can range anywhere from three days to two weeks. Exchange It, for example, promises that your device will be processed and paid for within 24-hours of receiving it.
It’s not just order processing either, what about the time that it takes for you to receive your shipping materials? Again, Exchange It guarantees shipment of your shipping kit (hey!) within 36-hours of your order being placed (as long as the mail is running.) We have no estimates of ship time from other companies.
If you need cash today, the best option for you would be to use one of the retail stores. If considering an online trade-in company, one needs to look at speed of payment, satisfaction guarantees – and, of course, price. Exchange It tries to blend the best of both worlds, with logistics in place to get you paid in just a few days with a higher offer. No matter which route you decide to go, prices offered gradually fall over time. Now is always the best time to get rid of your old phones.