Watching Your Wallet: Making money on your old smartphone
LANSING, Mich. (WILX) - If you’re thinking of upgrading your cellphone, you may want to think twice before trading in the old one.
If you want to get the most value out of your old cell phone, you first have to decide whether you want cash, credit or the trade-in value.
You can trade it to the carrier and get a discount on your new phone, but that’s not the only option. According to the Better Business Bureau (BBB), many major retailers -- like Best Buy, Amazon, Target and Apple -- will offer gift cards for your trade in.
Used electronics sites like Gazelle offer cash as well. You must shop around! A quick survey about your phone’s condition can tell you what each of these retailers will offer and these quotes can be very different.
If you do trade it back to your carrier, wait for a promotional period where you can get more.
Of course, you’ll get more for a phone in good shape, but what if it’s damaged?
Try an EcoATM kiosk -- it takes phones in any condition and gives you cash. Look at how much it costs to fix, it may be worth more if you spend a little money to repair it a busted screen.
If you are trading in your phone, make sure you back it up manually and do a factory reset to delete your personal data and apps.
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