Fall brings new Apple products, including updated versions of the iPhone and Apple Watches (recent debuts: iPhone 13 and the Apple Watch Series 7one of us Top picks for the best fitness trackers). iPhone 14 and other new devices. It is expected to be announced at the event of the company on September 7As reported by the Wall Street Journal newsroom. Upgrading can be expensive, but you can make up for it by trading in your old device. Here are a few great ways to trade in last year’s gear for cash or store credit so you can score the latest tech for less.
Try the Apple Trade In program
The most convenient way to turn in your old hardware and get a loan toward new gear is by trading it in directly through Apple. The company accepts used iPhones, iPads, Macs, Apple Watches and Android phones. Here’s how it works: If you’re shopping for a new device online, you’ll be prompted to choose the model, color, and storage capacity. It is very popular when choosing an iPhone. You select the instrument you are trading and its condition from the drop-down menus. Trade-in prices range from $25 to $600 for iPhones, up to $150 for Apple Watches, up to $555 for iPads, and up to $1,000 for computers.
Here’s an example: Starting in August 2022, a last-year iPhone 12 in good condition (turns on, buttons and cameras work, body, glass, and display intact) will get you $400 in cash or storage credit, regardless of storage capacity. . For the same phone in poor condition (ie, the screen or cameras are in rough shape), the price drops to $100. These prices are generally lower than what you would get from selling the item yourself, but the process is much easier. If Apple deems your device worthless, it can still be recycled for free.
When you’re ready to complete the purchase, you’ll have a few options. If you’re paying in full, you’ll be charged the retail price first, and you’ll receive a credit to that payment method once the transaction is received and verified. Alternatively, you’ll get instant credit if you’re paying with an Apple Card, the Apple iPhone Pay program or your carrier instead.
Regardless of your payment method, Apple will send a trade-in kit. This includes instructions for transferring your old device’s data to the new one, and a postage-paid box to send the hardware to Apple. The condition will be checked upon receipt to ensure it matches what you reported. If not, you have the option to back out or continue with the trade and pay the difference.
If you’re in an Apple Store, the process is the same, except everything is in place. If you’re not ready to upgrade but want to get some old technology out of your home, you can use the program—you’ll go through the same process. In Apple’s business site and receive a gift card.
Apple Watch Series 7
Get trade-in credit through your carrier
Cell phone service providers will look for used phones and pay you for them, although the amount can vary widely – from $5 to $650 depending on the condition of the device. In early August 2022, for example, AT&T And T Mobile They’re offering up to $290 for the iPhone 12 with 64GB of storage. Verizon It’s offering up to $276. Carriers often offer special promotions when they launch new devices, so these numbers could change when the iPhone 14 is announced (probably in September 2022). Here’s the catch: All three major carriers generally require you to lease your phone, and instead of taking the money up front, they’ll lower your monthly payment over two or three years.
Sell your mobile phone or device online
Selling old equipment yourself takes a lot of work, but it pays off. There’s the old guard, Ebay, sometimes you can get a great price, but it is not guaranteed; A quick survey of recently completed transactions puts the average selling price of the 64GB iPhone 12 at around $385, which is $400 less than Apple’s offer. This is only an average, of course, and depends on the number of buyers responding to your listing and the condition of your phone. You must handle shipping and pay any related fees, including 12.9% of the final price (which brings the $385 to about $340). I’ve had success with eBay, but a few broken transactions where the buyer never paid or responded to my messages, and then I had to list the phone again.
another site, Swapa, allows you to sell directly to other site users for a 3% fee. At the time of publication, Swap’s average fee for an iPhone 12 was $12,501, which is higher than what Apple is offering (even after Swap’s 3 percent fee) but includes the same level of functionality as it sells on eBay. Used equipment dealer BackMarket It also accepts trade-ins, which is easier than meeting a dealer, but it’s currently only offering $350 for a high-end iPhone 12.
Decide if you want high dollar or low stakes
If your Apple device is in good condition and a simple trade-in process is a priority, sending it to Apple may be your best bet, although it’s worth checking the discounts your mobile carrier offers. Selling it yourself can net you top dollar, but you’ll have to do the work of listing and shipping it, and you run the risk of encountering ghosts or buyers with shipping problems in the process.
Any advice, recommendations, or standards expressed in this article are from the state side of the WSJ editorial team, and have not been reviewed or endorsed by our business partners.