So you're ready to preorder the new iPhone 8 or 8 Plus. Problem is, you've got an iPhone 7 -- and you probably paid a pretty penny for it. Sell that old iPhone to help subsidize the new one. Here's how to get rid of it in the most profitable manner possible.
Stop wasting your time. The closer we get to the iPhone 8 preorder day , the less your iPhone 7 or 7 Plus will be worth. According to trade-in site Gazelle. If you have a backup phone -- or can borrow one -- sell your phone right now.
If that's not an option, some sites including Gazelle give you a grace period of up 30 days before you send in your phone. Whether you sell your iPhone by yourself or trade it in to a third-party company, there are a few things you should do to make sure your data is safe:. You'll get the most money for your phone if it's in tip-top shape, but you'll still do well if it's in "good" condition: No cracks in the screen, no big dents or scratches in the casing, no water damage and everything is working well the phone turns on and holds a charge.
If your phone is damaged you can still get something for it, even if it doesn't turn on. It's not worth it to repair a cracked screen before you sell, but if your screen is only slightly damaged -- a small hairline crack in the corner, for example -- you may want to sell it on your own instead of trading it in. Trade-ins generally put all cracked screens, from hairline cracks to completely shattered, into one category, but an individual may be willing to overlook superficial screen damage for a good price.
Craigslist is the riskiest option, but you will get cash for your device. The biggest challenge here isn't finding customers -- it's getting them to show up. Be prepared for flakes. If you do decide to use Craigslist or another in-person option, make sure you meet your buyer in a well-lit, public place many police departments offer their parking lots as transaction sites.
For the smoothest transaction, make the agreement clear prior to meeting -- your customer should know the price, condition of the phone and its wireless carrier in advance. If you don't mind putting in a little work -- listing, shipping and paying a small sales fee -- eBay is a better option than Craigslist for selling your used iPhone.
Because eBay offers its buyers purchase protection, people are more comfortable buying from strangers. If you accept payment through PayPal, it charges a fee of 2. To price your device, search for your model on eBay and check the "sold" listings.
At the time of this article, these are the ballpark going rates sold items for used iPhones on eBay:. The main downside to selling your iPhone on eBay is the potential risk of buyers' remorse.
You can minimize your risk by documenting everything and shipping your device via a trackable service with proof of delivery. Trading in your device for cash, store credit or gift cards is the least profitable option, but you also won't be liable for any issues with the device once it leaves your hands. Plus, if your iPhone is in less-than-great condition, some companies will still take it -- even if it doesn't turn on at all.
Trading in your iPhone instead of selling it is a great option if you're willing to give up a little profit for convenience and peace of mind. I dug around for the trade-in options and found values can vary significantly depending on a number of factors. There's model and storage capacity, of course, but also color and carrier. You're also likely to get a price bump if your phone is unlocked and already has Find My iPhone deactivated see above.
However, if you have an older model, this is a potentially easy way to make your way to a new one, as trades net you Apple Store credit. What's more, your money is paid out in Best Buy gift cards. That's fine if you're a Best Buy fan, or plan to buy your next iPhone there, but not ideal if you're looking to buy elsewhere.
Best Buy's trade values are based on carrier, color, capacity and, of course, condition. Gazelle is a third-party trade-in company that offers straight cash via check or PayPal; they also have an Amazon gift card option for your device. Gazelle tends to offer less for carrier-locked phones, so you may want to unlock your phone before trading it in.
Nextworth , like Gazelle, is a trade-in company that offers cash via check or PayPal. Nextworth also pays for broken phones. Unlike Gazelle, Nextworth offers more for some carriers, specifically Verizon. Have you ever sold or traded an iPhone? If so, what method did you use, and how was the experience?
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