Apple cuts trade in values of its older iPhone models

Apple slashed the amount of money that its older models will bring in a trade-in toward the purchase of a new iPhone model. For example, just the other day Apple would have credited you as much as $790 toward the purchase of an Apple device with the trade-in of an iPhone 12 Pro Max. But following an 11.4% drop in valuation, that phone will now give you as much as $700 in credit and no higher.

Valuations for tablets and computers that are part of a trade have also dropped. The largest credit to expect from trading in an iPad Pro is $550, down from $580. You'll get up to $205 for trading in an iPad, as much as $345 for an iPad Air, and a maximum $205 for an iPad mini.

Apple will give you at most, $2,720 for trading in a Mac Pro computer versus the $3,240 maximum it used to give as credit. A MacBook Pro is worth up to $1,630 in a trade and you'll get as much as $1,320 in credit for trading in an iMac. A Mac Mini will return up to $800 in a trade and a MacBook Air and Mac Book will give you credit of up to $550 and $340 respectively.

The maximum value of an Apple Watch Series 6 in a trade remains the same at $240. You can trade in your Apple Watch Series and receive as much as $140 toward the purchase of an Apple device while the Apple Watch SE will bring you up to $135. The Series 4 timepiece is valued at $105 in a trade vs. $70 for the Series 3 and $25 for the Series 2.

You might not know that Apple will give you credit toward the purchase of an Apple device if you trade in your Android phone. Some maximum valuations are as follows:

Samsung Galaxy S21+ 5G Up to $435
Samsung Galaxy S21 5G Up to $325
Samsung Galaxy S20+ Up to $275
Samsung Galaxy S20 Up to $205
Samsung Galaxy S10+ Up to $185
Samsung Galaxy S10 Up to $160
Samsung Galaxy S10e Up to $130
Samsung Galaxy S9+ Up to $95
Samsung Galaxy S9 Up to $75
Samsung Galaxy S8+ Up to $60
Samsung Galaxy S8 Up to $50
Samsung Galaxy Note 20 Ultra Up to $545
Samsung Galaxy Note 20 Up to $385
Samsung Galaxy Note 10 Up to $235
Samsung Galaxy Note 9 Up to $130
Samsung Galaxy Note 8 Up to $65
Google Pixel 5 Up to $315
Google Pixel 4 XL Up to $180
Google Pixel 4 Up to $150
Google Pixel 4a Up to $160
Google Pixel 3 XL Up to $70
Google Pixel 3 Up to $55
Google Pixel 3a XL Up to $55
Google Pixel 3a Up to $50

The maximum prices quoted above are based on the trade being in perfect working condition. Condition and age are two of the most important categories when determining trade value. It should be pointed out that Apple is not being overly generous here and in most cases, you'd be better off selling your device through a private transaction or through eBay. And while there are sites that specialize in buying your older handsets or tablets, you are not going to get a great price from most of them.

And if you're holding on to an older phone thinking that it is worth more the older it gets, that is not true. We recently told you about a survey conducted in the U.K. by musicMagpie that revealed that while holding on to their old phone expecting it to become rarer and more valuable, 61% of those surveyed in the U.K. waited an average of 16 months between the time they upgraded their phone and the time they sold the old one. During that time, the value of the old phone plunged by 50%.