Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

How I Went From Side Hustle to 7 Figures Using These 4 AI Tools (No Tech Skills Needed)

July 12, 2025

How Mastering Your Nervous System Boosts Leadership Presence and Performance

July 12, 2025

Mortgage rates tick higher for first time in weeks

July 11, 2025
Facebook Twitter Instagram
Trending
  • How I Went From Side Hustle to 7 Figures Using These 4 AI Tools (No Tech Skills Needed)
  • How Mastering Your Nervous System Boosts Leadership Presence and Performance
  • Mortgage rates tick higher for first time in weeks
  • Social Security & The Big Beautiful Bill
  • Ford Recalls 850,000 Vehicles: What It Means for Your Safety and Your Finances
  • Mark Cuban Says AI Will Mint a Trillionaire. Start Your Climb Here
  • Here’s How Much Google Pays Software Engineers, Designers
  • This Former NFL Player Built a Brand Around Nasal Breathing
Saturday, July 12
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » Phone Trade-In vs. Selling: Which One Pays Off?
Budgeting

Phone Trade-In vs. Selling: Which One Pays Off?

News RoomBy News RoomAugust 6, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

For 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. 

Many 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. 

How Does Trading in Your Phone Work?

If you’re buying your new phone through the manufacturer or your wireless carrier, the simpler option may be to do a trade-in. 

Typically, 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.

Once 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.

Note

Trade-in programs may not include older phones. Apple’s trade-in program goes as far back as the iPhone 6s but doesn’t include anything earlier than an iPhone 6.

For 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.

You’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.

If 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 they receive your phone and inspect it.

The 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.

If 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.

Pros and Cons of Trading in Your Phone

How Does Selling Your Phone Work?

Selling 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.

There are several places where you can sell your iPhone or Android device, including:

  • eBay
  • Craigslist
  • Facebook Marketplace
  • OfferUp
  • Nextdoor
  • Local classifieds

eBay will take a 12.9% + $0.30 out of your final sale price, but it provides shipping discounts and puts your item in front of a big audience.

Try searching for the same model phone by providing some information about your device, including the manufacturer, unlocked status, storage capacity, color, condition, and accessories. Once you enter all of the relevant information, you can see what other eBay sellers are listing their items for and where they have sold.

Let’s say you have the same iPhone 11 as above. It’s unlocked, has the maximum storage capacity, and is in good condition, which means it has some scratches, chips, or dents. According to eBay, the trending price is $480, a full $180 more than the maximum Apple would offer if you were to do a trade-in.

In contrast, the other platforms are usually free and reach a local audience that won’t require the hassle and cost of shipping, but the local scope limits the number of buyers you can reach. 

The decision whether trade in your old phone or to sell can depend on a few factors, which means neither is inherently better than the other. As a result, it’s important to consider the situation, as well as your budget and preferences, to make the right choice for you.

Pros and Cons of Selling Your Phone

Cons

  • Finding a buyer can be tedious especially if you’re dealing with local buyers who may express interest, then disappear or don’t show up to a meet.

  • It can take several days or weeks to sell the phone.

  • May require shipping (buying postage, a box, and packing material)

How to Decide to Trade-In or Sell

The decision whether trade in your old phone or to sell can depend on a few factors, which means neither is inherently better than the other. As a result, it’s important to consider the situation, as well as your budget and preferences, to make the right choice for you.

If you’re thinking about trading in your phone, consider spending a few minutes researching how much you could earn by selling the device. This can give you an idea of the trade-off you’d make by opting for the convenience of a trade-in over the work it might take to sell the phone. 

For example, if your particular phone is worth $100 more if you sell it instead of trading it in, it may still be worth doing a trade-in if you don’t have a lot of free time to go through the whole selling process, and you can afford to lose the difference.

However, if your budget is tight, spending a little extra time selling the phone may be well worth the additional cash.

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

How I Went From Side Hustle to 7 Figures Using These 4 AI Tools (No Tech Skills Needed)

Make Money July 12, 2025

How Mastering Your Nervous System Boosts Leadership Presence and Performance

Investing July 12, 2025

Ford Recalls 850,000 Vehicles: What It Means for Your Safety and Your Finances

Burrow July 11, 2025

Mark Cuban Says AI Will Mint a Trillionaire. Start Your Climb Here

Make Money July 11, 2025

Here’s How Much Google Pays Software Engineers, Designers

Make Money July 11, 2025

This Former NFL Player Built a Brand Around Nasal Breathing

Investing July 11, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

How Mastering Your Nervous System Boosts Leadership Presence and Performance

July 12, 20250 Views

Mortgage rates tick higher for first time in weeks

July 11, 20250 Views

Social Security & The Big Beautiful Bill

July 11, 20250 Views

Ford Recalls 850,000 Vehicles: What It Means for Your Safety and Your Finances

July 11, 20250 Views
Don't Miss

Mark Cuban Says AI Will Mint a Trillionaire. Start Your Climb Here

By News RoomJuly 11, 2025

Kathy Hutchins / Shutterstock.comMark Cuban is making a bold prediction that has everyone talking: AI…

Here’s How Much Google Pays Software Engineers, Designers

July 11, 2025

This Former NFL Player Built a Brand Around Nasal Breathing

July 11, 2025

What My First Failed Startup Taught Me — and How I Finally Got It Right 20 Years Later

July 11, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

How I Went From Side Hustle to 7 Figures Using These 4 AI Tools (No Tech Skills Needed)

July 12, 2025

How Mastering Your Nervous System Boosts Leadership Presence and Performance

July 12, 2025

Mortgage rates tick higher for first time in weeks

July 11, 2025
Most Popular

51 Reasons I Won’t Lend Money to Friends and Family

August 6, 20231 Views

How I Went From Side Hustle to 7 Figures Using These 4 AI Tools (No Tech Skills Needed)

July 12, 20250 Views

How Mastering Your Nervous System Boosts Leadership Presence and Performance

July 12, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.