How to get the most bang for the buck when selling your old phone
Whenever it's time to buy a new phone, the experience is akin to a kid being inside of a candy store. You're itching to scope out all the shiny new phones that are out on the shelves, just waiting to gobble one of them up and paying for it before it's officially yours. Naturally, most people are going be feeling super elated by this experience, mainly because of the prospect of having a brand spanking new phone in your possession!
It's a predicament that plays out all too frequently when consumers are ready to buy a new one. Using the money acquired by selling that old phone towards the purchase of the new one alleviates some of the stress of having to pay the full amount for the new phone right from the onset, but the question that really needs to be explored is how to get the most bang for the buck out when selling your old phone.
Anticipate, anticipate, anticipate
"Once a new phone model is introduced, the previous generation goes down in value. For example, we tend to see prices drop by 10-20% after Apple releases a new phone."
Like we said, you'll need to anticipate well ahead of time about selling your old phone. Wait until the end, right at the moment when that new one is introduced, you won't be able to garner as much as you would've if you anticipated it well in advance. If you're the kind of person that typically buys a new phone each year, then you'll want to target the month leading up to the announcement of the new model to proactively sell your old one.
New phone announcements and releases can significantly impact the value of your old phone.
Case and screen protectors are a must
People don't like buying phones that are all banged up or show significant signs of wear and tear, which is also the case for all of these resellers and online trade back programs. If you're the kind of user that prefers having your phone "naked," then you better be paying extra attention to it – just because it's more prone in general. And when it comes to getting the most bang for the buck out of your old device, you'll want to try and keep it as pristine looking when it's time to sell it.
By using a case and a screen protector, not only are you protecting it from accidental damage, like a fall onto the hard pavement, but your chances of getting a higher quote is better. Sure, they might take away from the phone's natural beauty and original looks, but if you're adamant of spending as little as possible out of your pocket to pick up a new phone, you'll absolutely need to use them starting on day one.
Mainstream devices have the highest resell values
Choose your smartphone wisely, just because not all phones are going to be equal when it comes to reselling them. Not surprisingly, high-end flagship phones with all of today's tech goodness are more valuable, than say, those entry-level phones you might've picked up online for a killer deal. However, what's even more interesting is that mainstream devices are usually the ones to accumulate the highest resell values.
Does this mean that you shouldn't even bother going with a phone that's not from one of the big names? Not really, especially because there might be some overlap when quotes for devices might be the same, which is really dependent on the market conditions.
Mainstream smartphones, like the Samsung Galaxy Note 8, generate the highest resell values.
Who to sell it back to?
As with most things, we recommend doing your research in terms of choosing who or what service you want to utilize to sell back your old phone for money. Nowadays, many carrier stores and big box retailers offer some kind of buy back or trade in service – where they'll offer gift cards, cash, store credits, or other promotions for your old phone. On the other end of the spectrum, you can also leverage online buyback services, like Gazelle and ecoATM, for the convenience of getting a quote instantly. With ecoATM, in particular, it'll give you cash on the spot for your old phone.
You might be able to snag more value by selling it through eBay or Craigslist, seeing that prices tend to be uniform amongst those buy back and trade in programs. Regardless of which route you end up selecting, it's best to do your research and choose the one that best suits your needs.
The ecoATM can offer you instant cash for your old phones.
Or maybe it could become a collector's item?
Early adopters might be inclined to sell their old phone around the time when the new one is about to be announced, but another alternative to getting more bang for the buck out of that old phone is to maybe just hold onto it, in the hopes that it may one day become a collector's item? Remember that first-generation original iPhone? Well, it's a collector's item nowadays and really tough to come by, so even if you somehow manage to come across one, chances are that it's commanding a huge sum of money to own.
Certain phones can end up becoming collector's items, so it's maybe worth holding onto your old one.
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