How Much Money Could You Get for Your Old iPhone?

Many of us know the simple joy of opening a new iPhone and spending time at work, er, I mean on the weekend, checking out its latest features. Apple upgrades its phone lineup each year, encouraging iPhone fans to regularly ditch their old device in exchange for a newer one.

Of course, with inflation still impacting the price of nearly everything (as well as iPhones being pricey to begin with), getting the most money for your old phone is always important. While each iPhone fetches a specific price based on its condition, carrier, and model, we can estimate how much some iPhone models may get through some trade-in programs and online marketplaces.

Remember, the better your phone's condition, the more money you'll get to add to your bank account. So maybe try not to let it plummet toward the coffee shop floor right before you upgrade.

1. Apple's iPhone trade-in program

This program may not get you the most money for your iPhone, but it's certainly an easy way to trade in your old phone. You can use Apple's website to determine how much your phone will be worth while shopping for a new iPhone.

Once you pack up your phone and send it to Apple, the company will credit the amount toward your newly purchased iPhone or give you a gift card. The condition of your phone will be assessed after you send it to Apple, so the more accurate you are when trading in, the less surprised you'll be with your phone's eventual trade-in value.

Keep in mind that the trade-in amount may be more than the gift card amount. For example, Apple's website says it will give up to $300 for an iPhone 12 trade-in, but if you choose a gift card, you'll get $265. An iPhone 13 in good condition will fetch $420 when trading in or $415 for the gift card.

2. Swappa

You can think of Swappa as a fancy eBay. It's a marketplace where you set the price for your device and can usually get more money than you would by trading it in at Apple. Swappa says its marketplace is for "newish" tech, so if you have a busted phone or one that's not in tip-top shape, this site probably isn't for you.

Swappa says the average price for selling an iPhone 12 on its marketplace is $403, and $568 for an iPhone 13.

In addition to selling your phone on the marketplace, Swappa offers the option to sell your phone to one of its buy-back partners. It's a simpler process than selling it yourself, but you'll make less money. The average price for an iPhone 12 trade-in is $231, and $401 for an iPhone 13.

3. Best Buy

If you browse the electronics section of Best Buy regularly, taking your iPhone to the store -- or online -- for an evaluation can be a good option. You'll receive a store credit you can use toward a new phone…or that big-screen TV you've had your eye on.

A quick check on Best Buy's website shows that the base 64GB iPhone 12 will earn you $275, and a 128GB iPhone 13 goes for $375.

4. Walmart Exchange

Walmart has its own exchange program it runs through CExchange. You can evaluate your device online and receive a prepaid shipping label to send the device to the company. Once it receives it and does a final evaluation, you'll receive an electronic Walmart gift card.

Compared to the other trade-in options on this list, going through Walmart may give you the least amount of money. A base iPhone 12 with 64GB was worth up to $180 through Walmart's trade-in program, and an iPhone 13 with 128GB was worth up to $272. Those values are far less than trade-in programs at both Swappa and Best Buy.

5. Carrier trade-in

Finally, trading in your iPhone through a cellphone carrier could be an excellent option to get the best money for your device. For example, T-Mobile is currently offering a trade-in deal to new and existing customers that may give iPhone owners up to $830 in bill credits when they turn in their old iPhones, if you sign up for a specific plan.

Additionally, AT&T has its own deal running right now where some iPhone owners could trade in their old iPhone and receive up to $700 toward an iPhone 14.

Carrier promotions change often, so you'll need to look into some of the details before you're ready to trade in your old iPhone to see if they apply. Also, carriers don't hand out phones without some strings attached. You may need to sign up for a specific plan to get the most value from your old iPhone. Still, choosing a carrier's promotion could mean your old phone is worth nearly as much as a new iPhone.

If you're anything like me and you're always looking for a way to improve your personal finances, getting a good deal on your iPhone is a great start. But scoring a low-priced smartphone plan is also a great way to save money every month. Here's how I spend just $25 per month on my smartphone plan.