The iPhone 14 is highly expected to be released early next month. But are you considering an upgrade? You’re not alone; millions of people will want to trade in their old iPhone for a gleaming new smartphone. However, we have a crucial tip: it may be wiser for you to turn in your old handset before the iPhone 14 is released.
While the release of a new generation of Apple flagships may seem like a tempting gift, it’s critical to understand how the trade-in game works. Those with older devices, in particular, should time their trade-ins carefully to get the most value out of their old phone.
You may receive a better deal if you now trade in for an iPhone 13 rather than waiting for the iPhone 14 – that’s how the main carriers’ trade-in programs operate. While it is too early to predict what the iPhone 14 pre-order window will include, it is obvious that certain previous iPhones will lose significant value.
Because there are so many iPhone models on the market today, merchants and carriers often classify them into tiers when deciding value. Newer or more expensive models belong to the higher levels, while older or less expensive models inhabit the lower tiers.
The models that fall somewhere in the middle, such as the iPhone XR or iPhone XS, are where things tend to get a bit murkier. These are still fantastic gadgets with good specifications, but they show their age. It’s reasonable to anticipate that, while still functional, these older models will lose value the most when the new generation of flagships is released. These gadgets are only examples, but they are clearly “last gen” now, owing to their old design and the fact that they only support 4G.
We anticipate that 5G-ready phones (iPhone 12 and up) will be far more resistant to resale value declines since they not only support the newest cellular networks but also have an outwardly similar appearance to subsequent versions.
One of the greatest locations to observe the “trade-in tier” system in action is the terms and conditions of carrier cell phone offers. Take, for example, this Best Buy website for Verizon iPhone 13 trade-in specials (opens in a new tab).
The existing iPhone models are displayed in tiers here. Everything newer than the iPhone X, providing it’s in decent shape, can get you up to $800 off an iPhone 13 with a trade. Anything older, such as the iPhone 8, will only qualify for a maximum trade-in refund of $400. Those who own an older handset, like the iPhone 5, are utterly out of luck.
While this is merely a sample of one carrier’s deals on one model at one outlet, practically all trade-in deals at the big brands follow this approach. As a result, regardless of carrier, you may find yourself in the trade-in value sweet spot or on the verge of losing a significant amount of money on the worth of your device.
We think that $800 is the highest trade-in rebate you’ll be able to earn for the forthcoming iPhone 14 offerings because it’s the amount that’s typically been granted at launch for previous versions. Take this figure with a grain of salt, though, because the gadget hasn’t been formally introduced, and nothing has been confirmed.
The second-hand unlocked market operates under laws fundamentally different from the carrier trade-in scheme. If you want to sell an iPhone 13, you should do it before the iPhone 14 is revealed.
There is another alternative for upgrading: just selling an unlocked handset on eBay or a used phone site. In this situation, you’ll almost certainly suffer a hit with the release of a new iPhone, but you won’t face the severe drop-off in value associated with the trade-in levels.
It’s worth noting that the second-hand unlocked market operates under regulations fundamentally different from the carrier trade-in tier structure. According to the SellCell report, if you want to sell your iPhone 13, you should do it before the iPhone 14 is released. If you have an older phone, like an iPhone 11, you won’t see such a drastic reduction in value, but you’ll probably want to sell it before the new flagship is released.
If you’re considering upgrading your old iPhone, we’d suggest looking into the different trade-in tiers at your favorite carrier ahead of time. This will, at the very least, ensure that you are not taken off guard at launch.
This advice is especially crucial if you’re using an older flagship handset, such as the iPhone X or XS, which is in danger of dropping from tier one to tier two trade-in value. If you’re not aware of the value of your equipment, it might cost you up to $400 if you’re not careful. Therefore it’s worth doing some study.
Of course, if you want the shiniest and most feature-packed design on the market, you’ll have to take your chances and buy the iPhone 14 when it comes out. If you don’t mind waiting a little longer for a little older gadget, the iPhone 13 or iPhone 13 Pro is a better option. Not only are these still wonderful gadgets, but they’ll be useful for many years to come (at least until it’s time to trade in again).