Who Should You Sell Your Phone To?
After much anticipation and various rumors, Apple introduced the new iPhone 6 to the public earlier this month. Last week, Samsung released their latest smartphone, the Galaxy Alpha, both in-store and online. If you’re thinking about trading in your old phone to help pay for one of these new devices there are a few different avenues to choose from. We decided to investigate and breakdown how to get the most money when you sell your phone.
In order to adequately put together a good representation of competitive prices, we had to do a little digging into what some of the notable buyback sites were offering for six of the latest Apple and Samsung smartphones. As with each of these sites, the amount of money they offer changes quite frequently and the prices represented here are subject to change; our fast-paced technological world doesn't slow down for anyone.
The data that is represented in the graph shows the highest price that was offered for each phone between the carriers Verizon, AT&T, T-Mobile, Sprint, and phones that are unlocked. In most cases, the highest offers are for unlocked phones, with Verizon also proving to have an excellent trade in value. Take a look at each of these phones and the different carriers with a little more detail.
As the most recent Apple smartphone before the launch of the iPhone 6, the iPhone 5s provides the most trade in value of any iPhone model. Between the different buyback sites, it is clear that Verizon yields a much higher offer than any of the other carriers, except for with ePelican. AT&T users will be happy to know that ePelican actually pays the most for iPhone 5s’ locked to their network. Have an unlocked phone? uSell and ePelican look like better options for you. If your phone has some battle scars, been beat up, and is broken, head to Gazelle for the best prices. They offer as much as $100 for non-functioning iPhones.
Although an iPhone 5 will bring in significantly less money than the 5s, there is still a large value for it. Across the board, ePelican showcases higher prices for each carrier and unlocked phones, slightly beating out uSell prices. Those aligned with the Sprint network will be disappointed to find out that their phones consistently bring the least amount of return from all three buyback sites. For example, at ePelican, a Verizon iPhone 5 16GB will get you $224 while the Sprint version only earns $130 .This practice is steady among all three sites. For those thrashed iPhone 5’s, uSell will provide you with the most money.
Samsung Galaxy S5
The prices for Gazelle and ePelican seem to be higher than those from uSell for the Galaxy S5. As Samsung’s latest smartphone, prior to the Galaxy Alpha, you’ll be happy to know it will bring in top dollar trade in value. From ePelican, you can get as much as $300 for phones from Verizon, AT&T, and T-Mobile. Although uSell didn’t provide an offer for an unlocked Samsung Galaxy S5, ePelican came in with the highest offer at $330.
Samsung Galaxy S4
Surprisingly, T-Mobile phones grant the highest monetary value for the Samsung Galaxy S4 among the three sites. For those comparing the prices, it is easy to recommend uSell and ePelican, as their prices proved to be higher than Gazelle for this model. Following the trend of other smartphones, uSell offered the most value for broken phones and ePelican gave highest prices for unlocked devices.
Who else can you sell your phone to?
Some big name corporate retailers have also joined in on the trade in party, but you’ll need to be a frequent shopper at their establishments to really see the benefits. Corporations like Target, Walmart, Amazon, and Best Buy all provide a trade in program but will only dish out payments in gift cards. The four major carriers administer a trade in program as well. However, they too will either offer credit to your account (T- Mobile), or provide you with an electronic gift card (Verizon, AT&T, and Sprint). If you’re looking to sell your phone for fast cash, the three alternative buyback sites will give you the best approach.
Once you've finally got the money for your old smartphone, it’s time to put it to use. If you’re a fan of the new Apple iPhone 6, it will put you back $649 for the 16GB version, unlocked. Though that might seem like a steep price, you’re going to save some money by not being locked to a two-year contract. Don’t think so? The numbers show that the average price for a single-line plan with 2 gigabytes of data will cost anywhere from $1,640-$2,120 over two years. The new iPhone 6 will cost between $199 and $399 on top of a two-year contract from the four major carriers.
More of an Android fan? To get the new Samsung Galaxy Alpha you’ll have to shell out $613 without a contract, and $200 with the usual two-year contract. At the moment, AT&T is the only carrier that bears the new Galaxy Alpha and they have programs that let you pay per month for the phone instead of all at once. Choose the Next 12 plan to make payments of around $30 for 20 months, or the Next 18 plan and pay $25 for the next 24 months. Each option totals up to the price of a new Galaxy Alpha, but does offers a little flexibility for those who do not want to pay the money up front.