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How To Save Money On A New iPhone By Selling Your Old One

Dec 3, 2021 •

Savvy consumers know that iPhone savings can usually be found by searching for sales, agreeing to wireless contracts, and/or finding a refurbished unit. In addition to these, selling your old iPhone is another effective way to reduce the cost of a new one.

Selling your old phone won’t reduce the actual price of a new iPhone, but it will lower your actual out-of-pocket expense. You can put the money received for your old phone toward a new one. The savings can be substantial, and this is an especially good tactic when you’re trading up.

Finding the Right Place to Sell Your Old IPhone

When deciding how to sell your old iPhone, you’ll want a solution that’s convenient and pays the highest possible price. Convenience is important not just to make the process easy, but also so you can get paid quickly in case there’s a sale you want to take advantage of. Getting the highest price is obviously important, as every dollar you get for your old phone is a dollar that you don’t have to pay out-of-pocket for your new one.

The three main ways to sell your phone are by listing it yourself, trading it in to a carrier, or selling it to an established online phone buyer. Of these, the last choice provides the best combination of convenience and price.

Listing the Phone Yourself

Listing the phone yourself may provide a reasonable price but comes with an opportunity cost. You’ll have to wait until someone offers to pay your asking price, and the wait may be several weeks or even months if you want a truly good price. In the meantime, a sale may take place that you miss out on. Waiting to get a few extra bucks isn’t necessarily worth it if you miss out on a sale that could save you a hundred or more.

Trading the Phone In

Trading the phone into a carrier is highly convenient, but carriers are often known to pay sub-market prices for old phones. You’ll likely find that a carrier’s offer is much lower than either of the other options, and the difference in offers can be significant.

Sometimes carriers will offer a special deal if you trade-in with them, but you can ask to get the deal even if you don’t. Salespeople might be able to extend a deal even if you don’t trade-in, so long as you buy a new iPhone from them and sign a service agreement. The contract is usually what carriers are most concerned about, and their primary business isn’t reselling old phones.

Selling the Phone to an Online Buyer

Selling your old iPhone to an online buyer provides a combination of convenience and price that these other options can’t match. You can sell the phone without waiting for an individual buyer to come along, and established online buyers are able to pay higher prices than carriers typically can. With the right online buying site, you can get a fair price for your phone and have the funds quickly.

At MLG Cash, we’ve built one of the fastest and best-paying phone selling processes of any online platform. We utilize Paypal to issue immediate payment when the phone is turned in at a dropoff location, and we regularly pay nearly one-third more than others. In other words, we’ll make sure you get top dollar for your used iPhone and that you can get the funds today.

Checking How Much Your Phone is Wroth

How much you can sell a used iPhone for depends on the model, year and condition. Working models from the past several years may go for anywhere from a few dollars to hundreds of dollars. For reference, here are a few examples of what we’d pay:

  • IPhone 7: A base iPhone 7 with a cracked screen is still worth $12.50, despite being five years old and having the screen damage. The phone’s value doubles to $25 if there’s no screen damage.
  • IPhone SE: A second-generation iPhone SE that’s in good condition could be worth anywhere from $70 to $90, depending on how much memory it has.
  • IPhone XS: A mid-range version of the iPhone XS (256 GB) can sell for more than $150 if the phone is fully operational and free of chips, scratches and dead pixels.
  • IPhone 12 Pro Max: The full-featured iPhone 12 Pro Max has a value of up to $575, provided it has plenty of memory and works properly.

Whether you get closer to $10 or $500, any amount that you can sell an iPhone for will help defray the cost of upgrading. In many cases, the amount you can save is quite significant.

Check Your Phone’s Value

To find out what your phone is worth, check its value with our brief online form. We’ll tell you exactly what we can pay for the iPhone, and that amount will likely be the best you can get.

Assuming you’re happy with our offer, take your quote and the phone to a UPS Store location for dropoff and condition confirmation. We’ll immediately send you payment, which you can use toward your new iPhone. Get started now, and you could be saving on a new phone within a few hours.