Should You Trade In or Sell Your Phone? Here’s What Pays More

When it’s time to upgrade your phone, you’re faced with a key decision: should you trade it in or sell it outright? Both options promise to put cash or credit in your pocket, but the value you get, and how much control you have over the process, can vary dramatically depending on which route you choose.

If your goal is to get the most money possible for your old device, it pays to understand the trade-offs. One offers speed and convenience, the other offers better payouts with a little extra effort. Here’s a closer look at how trade-ins compare to direct sales and how to choose the right option for your situation.

Trade-Ins and Convenience Over Cash

Trading in your phone is often the fastest and easiest option. Most major phone manufacturers, wireless carriers, and big-box retailers offer trade-in programs. You hand over your old phone (either in-store or by mail) and receive credit toward a new device, a store gift card, or, in some cases, a direct deposit or prepaid card.

The biggest perk of a trade-in is simplicity. You don’t have to create a listing, deal with buyers, or wait for your phone to sell. The downside? You’re rarely getting top dollar. Trade-in programs often undervalue your phone, especially if it’s not the newest model or has any signs of wear. And in many cases, you’re limited to store credit, not cash you can spend freely.

If you’re in a hurry, planning to upgrade in the same store, and value speed over maximizing value, a trade-in can be the right fit. Just know you’re paying for convenience with a lower payout.

Selling Your Phone (More Work, More Money)

Selling your phone directly, through a marketplace, buyback service, or peer-to-peer platform, takes more time but often nets a significantly higher payout. Platforms like BuckUp, Swappa, or Facebook Marketplace let you set your price and potentially earn more than any trade-in program would offer.

This route gives you more control over the value of your device. You can compare quotes, negotiate with buyers, and choose between platforms that offer either instant payments or higher resale prices. Some services, like BuckUp, offer the best of both worlds, giving you an instant quote with no need to list or negotiate, and paying cash fast once your device is received.

The trade-off is that selling takes a bit more effort. You may need to ship your device, wait a few days for processing, or interact with buyers directly. But if your priority is getting the maximum value for your phone, the extra time is often well worth it.

Who Pays More?

Let’s break it down with a simple example. Say you have an iPhone 13 in good condition.

• Apple trade-in might offer you around $300 in store credit.
• Carrier trade-in could drop that to $250, often applied as bill credits spread over 24 months.
• Resale platforms like BuckUp or Swappa could fetch you $400 or more in cash, depending on storage size and cosmetic condition.

That’s a $100 to $150 difference just for choosing a different selling method. Multiply that over multiple upgrades, and the savings (or losses) add up fast. Selling gives you cash in hand that you can use however you want, not just toward a specific retailer or carrier.

When a Trade-In Might Make More Sense

Despite the lower payout, trade-ins have their place. If you’re upgrading through the same retailer or carrier, the discount on a new phone might be worth more than the difference in value. Plus, the simplicity of handing over your old phone at the same time you receive your new one can streamline the process.

Trade-ins are also ideal for people who don’t want to deal with listings, buyers, or shipping. If your phone isn’t worth much…or if time and convenience are more important than maximizing profit…it may be a better fit than trying to sell.

Just make sure you compare offers before committing. Some trade-in programs look appealing but are padded with promotional pricing or conditional discounts that can disappear if you change your plan or device.

Our Bottom Line

If you want the most money for your old phone, selling it outright is usually the better choice. It may take a little more effort, but the extra cash is often worth it. Especially if you use a streamlined buyback service that handles the heavy lifting for you.

If you value speed, simplicity, and are okay with store credit or upgrade discounts, a trade-in might be a good fit. Either way, don’t make the mistake of accepting the first offer you see. A few extra minutes of research could mean an extra hundred dollars in your pocket.