iPhone Trade-In: Who Pays the Most?

Many of you are likely considering upgrading your iPhone. Aren’t we always? We’ve weighed the pros and cons of hanging in or moving on amidst the ongoing tariff and supply chain showdown. It seems like many are leaning towards beating inevitable price hikes.

Recently, a TikTok creator, Simba (8aminthemornin), shared her experience of attempting to trade her iPhone into T-Mobile versus Apple. Simba claims T-Mobile rejected her trade due to claimed water damage, but Apple gave her $130. As of today, the video has 2.3 million views! As someone still wavering on whether or not to weather the storm with my iPhone 13 Pro 128 GB, I decided to test the market. Here are the results.

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Carrier: Verizon

Like 8aminthemornin, I started with my carrier, Verizon. Not taking into account any specific promotions for new or existing customers, a quick check with Verizon indicates they’ll offer a $206 trade-in value for the iPhone 13 Pro with 128 GB storage. At first blush, this seems a little low as a standalone trade-in. However, Verizon is offering an attractive upgrade offer for existing customers that provides a credit to your bill over 36 months, depending on the new iPhone selected. Verizon claims they will accept a phone in any condition as long as it’s been active with Verizon for 60 days and is from Apple, Google, Motorola, or Samsung. Not bad.

Apple

Apple is offering $310 towards a new iPhone. Alternatively, they’ll offer $280 via an Apple Gift Card. Either option is substantially more than Verizon. For those looking for another Apple device, the gift card is a nice alternative, especially if you’re shopping for a used iPhone or find a better carrier deal on a new iPhone elsewhere. Moreover, Apple’s trade-in program doesn’t specifically say it takes storage capacity into account. This could level the playing field for those owners with minimum storage.

Best Buy

Best Buy’s trade-in value is slightly higher than Verizon’s but still substantially less than Apple’s. This is somewhat surprising as I’ve heard anecdotes that Best Buy is pretty competitive with trade-ins. Still, we’re talking about a phone that’s almost five years old. At the same time, you can redeem the value with Best Buy towards a new purchase or receive a Best Buy gift card. This gives shoppers looking for other products some nice flexibility.

Gazelle

The online electronics exchange, Gazelle, has sold nearly 4 million devices since 2008. It’s one of the original online marketplaces to buy and sell used phones, laptops, and more. Unlike any of the above options, Gazelle pays by check (within 14 days), PayPal, or an Amazon gift card. While $223 isn’t nearly as competitive as Apple, it’s the only option explored here where you can actually receive cash for your iPhone.

If you’re not pressed for time, you can also consider other online marketplaces like Swappa. They’re unique in that they allow users to buy and sell directly to another customer, only taking a 3% fee. It’s more time and hassle, but the rewards could be significant. Remember, these aren’t the only options for selling or trading your iPhone, and the results will surely vary a ton depending on the specific model and specs. If you’re ready to move on from your current iPhone, this should give you a good starting point.