Get the most cash for your iPhone trade in

Get the most cash for your iPhone trade in

Posted:
iDropped store manager Steve Williams says an iPhone 5 in good condition is worth $350. iDropped store manager Steve Williams says an iPhone 5 in good condition is worth $350.
The store was not offering any cash value for the iPhone 4. The store was not offering any cash value for the iPhone 4.
Best Buy offers $330 for an iPhone 5 through its buy-back program. Best Buy offers $330 for an iPhone 5 through its buy-back program.

By ALEXIS ZOTOS
6 News Reporter

KNOXVILLE (WATE) – The highly anticipated new iPhone goes on sale Friday. The iPhone 5S and 5C range between $99 and $199 with a new two year contract.

When a new iPhone comes out, what should you do with your old one? New buy-back and trade-in programs are popping up at stores and 6 News did some digging to find the best deals.

Stores that specialize in phone buy-back see a huge increase in business around the launch of a new iPhone.

"Usually when they announce a new iPhone we start getting all the older models coming in so people can get money and buy the new one," explained Steve Williams, store manager of Farragut based iDropped store.

They buy and sell all types of smart phones, but say about 90 percent of their trades are iPhones.

Williams says the first thing to do when trading in an old phone is erase you information.

"You can check with the manufacturers website to see how to do a total reset. You want to ensure your contacts, photos and emails are all erased for good," Williams said they can help customers in store with this process.

6 News took a 16GB iPhone 5 and a cracked but still working 16GB iPhone 4 to see what kind of trade in value they would fetch.

"Its in good shape, just a little bit dirty. This particular model would bring around $350," Williams said about the iPhone 5.

Williams says the store offers up to a $400 for a good condition iPhone 5 with a box and charger.

"Yours has some small frame damage that is difficult if not impossible to fix, other than that and you would have received the full amount," he said.

Then Williams looked at the iPhone 4.

"There's no significant frame damage, but the front and back needs to be replaced," he said examining my phone with the shattered back. "This one would probably bring close to $60."

Big box stores like Apple and Best Buy are also getting in on the trade in business.

"We're guaranteeing trade-in value for your old iPhone, so it gives you the opportunity to get the new device and basically pay nothing for it," explained Best Buy store manager Kiplyn Baker.

The trade in program begins Friday and will give customers a free 16GB iPhone 5C if they trade in an iPhone 4 or 4s. Customers must be eligible for an upgrade and commit to a two-year contract.

"It's in pretty good condition. I'm looking for any scratches or cracks and then we will also look to see if the water sensor is still intact. This phone would be worth $330," Baker said about the iPhone 5.

With a new contract the iPhone 5C costs just $99 and the 5s is $199. Best Buy is offering a gift card for any leftover trade value.

 The store was not offering any cash value for the iPhone 4.

Apple also has a new buy-back program that will offer a gift card that can be used towards a new product. You can send in your old device or visit an Apple store.

Calmar's new trade in program begins Saturday. Customers can receive credit toward the purchase of a new smart phone with a new contract.

So where are the best deals?

For a good condition iPhone 5:

  • Local store, iDropped: $350
  • Best Buy: $330
  • Apple: $285
  • Calmar: $300
  • Online tech site Gazelle.com: $310

For a poor condition iPhone 4:

  • Local store, iDropped: $60
  • Best Buy: $0
  • Apple: $0
  • Calmar: $65
  • Online tech site Gazelle.com: $30
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