Last Friday, August 18th, Apple launched an iPhone Trade-In Program.
How Does It Work?
- Bring your old iPhone to any Apple store.
- Tell an employee that you’d like to buy a new iPhone and trade in your old one.
- Apple will quote you price based on the iPhone type and condition.
- If you agree, you will given this amount as a credit toward a new iPhone with a carrier contract.
Some Things You Should Know:
- Apple will accept all generations of iPhone.
- Apple will take an iPhone with a broken display, if it functions normally.
- The credit can only be used toward a new iPhone with a contract.
- Apple won’t accept iPhones that have water damage or do not power up and function normally.
- If you are not eligible for an iPhone upgrade, early carrier cancellation fees will still apply.
Remember to Backup your iPhone before taking it to the store.
Once you agree to a trade in, the memory on your old iPhone gets wiped.
Apple is using Brightstar to manage real-time pricing estimates for used iPhones.
According to the Wall Street Journal, the highest estimate you can expect is $280.00.
As the program grows and is around longer, you’ll be able to find better estimates on the web.
Is It A Good Deal?
Apple’s program provides convenience and the assurance that you’ll get a helping hand with the upgrade process.
You may find other buyers like Gazelle, that currently offer more money for a used iPhone.
Of course, you’ll make the most money if you sell it privately… but you have to:
- Estimate how much your iPhone is worth – iPod2Sell is a great resource.
- Unlock the iPhone.
- Wipe the iPhone memory.
- Remove the SIM card.
- Meet and Bargain or Auction and Ship.
If you find these steps daunting, the Apple store’s the way to go.
Whatever you decide, don’t let your old iPhone sit at the bottom of a sock drawer.
Apple products retain value. I got $540 for my 5 year old iMac. Try getting that for a 5 year old PC.
Have a bountiful weekend 🙂
If you have questions, please use the Comments section below.
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