How Much is My Phone Worth?
“How much is my phone worth?” It’s a question most people ask when they consider replacing their existing phone with a new model. If you don’t have a use for your old phone, trading it in makes a lot of sense. New phones are expensive, after all, and trading in your old phone can save you a bit of cash. That said, the amount you’ll get by trading in your old phone is dependent on a number of factors, which we’ll cover here.
Can you Sell Your Old Phone?
Before you start calculating the Verizon trade-in value on your old phone, can you sell it? If your phone is still under contract, the answer is no. You cannot sell a phone while it’s under contract. It is possible to trade in a phone while you’re still making payments, but you would have to continue to make payments on the old phone until it was paid off, so you’d be paying for two phones for a period of time.
Factors Determining Your Phone’s Value
A number of factors influence your phone’s trade-in value:
- Battery: Phone batteries last for about three years of use before they start to lose their ability to hold a charge. If the battery on your old phone is shot, you probably won’t get much for it as a trade-in.
- Camera: Some phones have a reputation for exceptional cameras. If yours is listed on our camera phone buying guide you’ll likely receive a higher trade-in price.
- Manufacturer: The reputation of the phone’s manufacturer and the quality of their product has a significant bearing on your phone’s trade-in value. The answer to “how much is my iPhone worth?” will be very different from “how much is my Moto G phone worth?”
- Model: The age of your phone will affect its trade-in value. With every new model released, an older phone loses some of its value.
- Operating system: Most people looking for a secondhand phone want to know that the manufacturer still supports the phone’s operating system. If you’re looking to upgrade, remember higher-end phones are more likely to support the latest OS by the time you want to trade it in.
- Screen: Phones with cracked or broken screens are rarely accepted as trade-ins.
- Security features: Phones with fingerprint or facial identification biometric security tend to command higher trade-in prices than those which just use a PIN.
- Storage capacity: Some phones offer a range of storage capacities. An older model with a higher storage capacity is often worth more.
- Warranty: If your old phone is still under the manufacturer’s warranty it will command a higher trade-in or selling price, both because of the warranty and, frankly, because it will be a fairly new model.
In addition, the overall condition of the phone affects its trade-in or resale price. Broken screens, dead batteries, or an inability to turn on (or off) are generally signs a phone will not be accepted as a trade-in. You might, however, be able to sell phones in poor condition online.
Does Verizon Buy Old Phones Back?
Verizon has a trade-in policy, so you can offset some of the price of that shiny new 5G phone somewhat by trading in your old phone. To estimate the trade-in value of your old phone, check out the Verizon Trade-in Value calculator. You can choose to get the value of your phone back in cash, or put the trade-in amount towards your new phone.
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