Get a phone trade-in estimate
When the time comes to upgrade your phone to a newer model, it’s a great idea to use your current phone as a trade-in to reduce the overall cost. Unless you are going to use it as a backup or maybe give it away to a family member, it is best that your old phone doesn’t sit around and collect dust in the junk drawer or on a closet shelf. There are so many commercials that advertise trading in your old phone to get a new phone for free and there are countless stories from people who have sold theirs online, but how do you know if you’re getting a good deal? We recommend getting an initial phone trade-in estimate on how much your phone is worth as a trade-in.
Our phones and other smart devices are lasting much longer than they used to. With fast processors and larger batteries, most people don’t upgrade every year anymore. According to Consumer Affairs, a site that helps consumers make smart purchasing decisions, about 55% of consumers hold on to their phones for 2-3 years before upgrading. The hassle of upgrading might add to this as well. But, when it is time to finally upgrade it can be hard to know how to get an accurate phone trade-in estimate.
Get an accurate estimate for your phone
A survey from the World Economic Forum has shown that more than 1 in 10 people hold onto their phone due to sentimental value. It’s very likely that the sentimental value many of us attach to our phones leads to overestimating their actual worth. Getting an accurate price is important so that you can set your expectations appropriately. The basic items that affect your phone’s value are its model, network lock status, storage size, and cosmetic and functional condition. If you know these things about your phone you’ll be able to get an instant price estimate in just a few seconds.
You can check your phone’s model and storage capacity in the settings. And you can determine your phone’s condition by viewing it in a well-lit area. Scratches, marks, or screen burn will cause your phone’s value to drop.
To get a higher price for your trade-in, we recommend getting your phone unlocked from your cell phone carrier. A carrier unlocked phone is worth more than a locked one because it can be used on any carrier. You can confirm your phone’s network lock status by first ensuring your phone is paid off and then contacting your carrier to have them unlock it.
Use your estimate to get the best deal
Once you know your phone’s value, you can use it to make sure you are getting a good deal if you are trading in your phone at a carrier store or at a store like Best Buy or GameStop. If the trade-in value offered by these stores doesn’t match what you’ve found elsewhere, you can simply decline and choose a better option. A trade-in estimate provides you with an edge that you can use to ensure you are getting the best deal possible.
Pro tip: Lock in your trade-in value with SmartphonesPLUS by submitting an order. Trade-in values are always dropping, and this will protect your value for 14 days. Submitting an order is non-binding, meaning you are not required to send in your trade-in just because you submit an order. If you decide to trade it in, you just have to pack your phone in a box, ship it for free, and sit back and wait to get paid.
How can I be sure my estimate will not change?
Trade-in values for electronics tend to decrease quickly over time. This is especially true for devices that have a fast refresh cycle, like iPhones. Since Apple comes out with a new iPhone every 6 months to a year, the closer we get to the launch date the less your iPhone trade-in will be worth. According to SellCell’s Smartphone Depreciation Report 2023, which took a look at phone depreciation after releases from top brands like Apple, Samsung, and Google, phones depreciate between 18-38% in just the first 3 months. Although iPhones tend to hold their value better than other brands, they still are a poor store of value over time.
If you are trading your phone in, honesty is always the best policy: be sure to select the correct model and condition of your phone. The #1 reason for decreasing values after your device has been traded in is due to condition being different than originally stated. To ensure you select the correct condition make sure you look at your device without the case or screen protector. When technicians or store associates evaluate your device they are trained to look for these imperfections. Being honest ensures a smooth process. These technicians are also required to provide an unbiased report on device conditions; this ensures that you can be confident if you select the correct condition.
What happens to phones that are traded in?
When you trade in your phone, you want to make sure that it goes to a good place and is not thrown away. When you sell it to a reputable phone trade-in company your phone goes through the initial functional and cosmetic tests to determine which parts of the device need to be refurbished. The refurbishment process includes replacing any parts that are broken like cracked screens or faulty components. Once refurbished, your device is professionally polished and sanitized so that the device looks as close to brand new as possible. This is a really important step because, someone that is purchasing your traded in phone will not want it to have gunk in the speaker holes or any dust in the charge port. Your phone will then be sold to another business in bulk or will be listed for sale online and sold to an end consumer.
Worried about your personal data?
Before trading in your phone, we always recommend that you back up your phone to the cloud or transfer your files to your new phone and then factory reset your phone to remove everything off of your phone. You will also want to remove the activation lock or FRP lock off of your phone. If you forget this step it could delay your trade in, as the phone will not be able to be used until this lock has been removed.
High quality trade in companies will use a software called Phonecheck to fully erase your device, meeting NIST Special Publication 800-88 and Department of Defense (DoD 5220.22-M) standards. However, it is still recommended that you remove your data before trading it in, for added security.
Maximizing your phone’s trade-in value
Getting an estimate of your phone’s value when you are looking to trade it in can be very valuable when you are shopping around for the best trade in prices. Even if you decide to trade in your device somewhere other than a company like SmartphonesPLUS, you can use their site to get an instant quote that you can use to get an idea of how much your old phone is worth. A great part about the SmartphonesPLUS valuation process is that they don’t make you enter in any information before you see their estimate. Their trade in estimates show instantly once you select your phone’s model, storage and, carrier. You can then lock in your trade in value for 2 weeks or just use their site to track the value of your phone and then sell it when the value is maximized.
If you have any questions about selling electronics or need more information, feel free to reach out to the SmartphonesPLUS team and they’ll be happy to provide you with the information you need to make an informed decision on your device trade in to ensure you get the most for your phone trade-in, even if you decide to trade it in elsewhere.
