Does Verizon give you money for your old phone?
The question that this article seeks to answer is whether Verizon provides consumers with money for old phones.
Perhaps you are wondering whether Verizon has a trade-in or buyback program that would allow you some cash or credit on your account if you have an old phone you seldom use or have replaced with a new one. The answer today is yes; Verizon does provide a phone trade-in program wherein you can be paid back for qualified old phones. The Verizon phone trade-in program runs as follows, and the amount of cash one is probably going to obtain from his/her old phones.
Which Phones Can I trade at Verizon?
You may swap several phone brands like LG, Google Pixel, Samsung Galaxy, and Verizon iPhones. You will therefore be allocated a trade-in value as long as your gadget is running because the screen and camera lenses are unbroken and water damage is not present. Before swapping any iPhone models, Verizon also asks you to disable the Find My iPhone capability.
You should go to a Verizon retail store with your phone and get it evaluated for trade-in directly, as the online estimator may state different values. Stores can physically examine devices while online estimators overlook some details of the damage.
How Much Money Does Verizon Provide You?
Trade-in values will depend on the model of the device, the amount of storage space available, and the age and state of the gadget. As a rule of thumb, you can anticipate receiving between $20 and $300+ for iPhones that are less than 3 years old. Samsung, Google, and LG devices range between $50 to $200+ depending on the features and popularity of the phone.
General storage levels are directly proportional to the trade-in values: you will get more for a 256GB iPhone 11 than for a 64GB one. As for new devices, they may help you earn more, at least for the first 1-2 years after their release before they start to lose their value. Verizon also adjusts trade-in values from time to time depending on the demand of the specific device and its resale market.
To give you a better idea, here are some approximate trade-in ranges for certain iPhone models in good, working condition.
- iPhone X, XS, XR: Developed countries $100-$250
- iPhone 11: $200-$350
- iPhone 12 Mini, 12: $300-$450
- iPhone 13 Mini, 13: $400+
And for Samsung and Pixel models.
- Samsung Galaxy S10, S20 Series: For a daily cost of $75-$225, you can join the fitness club of your choice and have access to personal trainers.
- Google Pixel 4, 5: $75-$175
As you can notice, Verizon’s phone trade-in program may provide you with reasonable resale value and help you get some money back for the recent generation of phones. The only thing you need to remember is that it is wise to take your phone to the store for a check before finalizing any trade-in prices.
Would It Be Possible To Get Credit With Verizon Instead of Cash?
Like most companies, Verizon not only offers cash for your old device but also gives you the option of account credit. The account credit option is receiving a statement credit from Verizon on your account by subtracting the trade-in value from your obligation for your wireless services and equipment.
To some other customers, it is better to take the account credit than cash – particularly if you still have an outstanding balance in a Verizon device payment plan. The trade-in credit can also be used to pay your bill in part and also pay off your phone in part.
Are Phone Trade-Ins Available With Other Carriers?
Verizon is not the only wireless carrier that refunds your cash for the device that you want to trade. Other carriers such as AT&T, T-Mobile & Sprint also have trade-in programs that operate in the same way – take working devices in good condition and assign credit or cash by the respective market prices.
Other alternatives for selling old phones include third-party trade-in websites such as Decluttr and Gazelle, which also offer reasonable offers. Nonetheless, carrier trade-ins are likely to yield higher values for the latest iPhone and Samsung devices in particular. First of all, check what your carrier is willing to offer in their trade-in program if you want to get the most money.
Trade before your phone decides to call it quit.
The main thing that I found out is that, the earlier one exchanges their gadget the higher the amount one is going to get. Unlike car values, phone values significantly drop within the first year of use due to new models in the market. Delays can result in returns of $30-50 even for capable devices.
Therefore, if you have an unused iPhone or Android phone that is lying around, you should sell it in the first one to two years of owning it to get good value for it. Verizon makes this even easier by allowing you to trade right at the store. And the extra trade-in cash can go straight towards your next new phone.
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