Is It Better to Sell or Trade In Your Old iPhone? Exploring Your Options
Learn about our editorial process
Learn about our editorial process
60-Second Summary
In order to help you make a decision on whether you should sell or trade in your iPhone, we have prepared a short guide. It will cover all important aspects of the process and present to you the pros and cons of both methods.
Decision Breakdown
- Choose selling for max value (15-30% more) & don’t mind the extra work.
- Choose trade-in for immediate convenience & smooth upgrade (lower payout).
The Truth About the Value
Here’s a numbers comparison from the top:
- Private sale: 100% reference value ($350-400 for iPhone 12 Pro)
- Buyback services: 70-85% of private value ($300-340) — BankMyCell compares the best buyback deals to maximize your payout
- Apple trade-in: 60-75% of private value ($250-300)
- Carrier trade-in: 40-60% of private value ($200-250)
The Truth About the Work
- High work, high value: Sell privately – it takes work to create a listing, communicate with potential buyers, meet people, process payments, etc., but the return is the highest.
- Middle of the road: Buyback service – get 70-85% of private selling value with very little work – review the offers, ship the device, and wait for a check or PayPal payment in 2-5 days.
- Lowest work, low value: Trade in program – instantly get a discount on a new purchase, but lose out on 25-40% value.
Security & Safety Matters
Protect your data in all cases:
- Back up and transfer all content to iCloud or iTunes
- Sign out of iCloud and the iTunes & App Store
- Turn off Find My iPhone
- Erase all contents and settings of the device
- Remove the SIM card from the phone
Trade-ins have the benefit of removing all potential transaction risks (fraudsters posing as buyers, shipping scams, etc. ), while private sales are more “hands-on” and require either meeting up with a stranger in the middle of a city or shipping to a “buyer” you’ve never met in person.
Good Candidates for Each Method
- Sell your iPhone 12 Pro when: You have a device in great condition, you can’t wait to get your money, and you don’t mind the process. If maximizing your return on your device is important to you, then selling is the better route.
- Trade in your iPhone 12 Pro when: You are looking for zero hassle, you are upgrading through Apple/iPhone carrier, you have a device with minor damages/cosmetic issues, and you don’t want to risk meeting strangers or shipping to “buyers.” This is the easy route.
Bottom Line
- To maximize your return: Sell the device yourself, or use BankMyCell to compare all buyback offers and choose the best price with as little effort as possible.
- To maximize your convenience: Trade in through Apple or the carriers, but be prepared to receive 25-40% less value for the immediate, completely zero-hassle experience.
| TODAY'S BEST iPHONE BUYBACK OFFERS | ||||
|---|---|---|---|---|
| Device | New/Boxed | Flawless | ||
| iPhone 16e | $510.00 | $428.00 | Compare | |
| iPhone 16 Pro Max | $1150.00 | $987.00 | Compare | |
| iPhone 16 Pro | $1045.00 | $912.00 | Compare | |
| iPhone 16 Plus | $812.00 | $745.00 | Compare | |
| iPhone 16 | $667.00 | $602.00 | Compare | |
| iPhone 15 Pro Max | $820.00 | $720.00 | Compare | |
| iPhone 15 Pro | $830.00 | $675.00 | Compare | |
| iPhone 15 Plus | $633.00 | $582.00 | Compare | |
| iPhone 15 | $574.00 | $541.00 | Compare | |
| iPhone 14 Pro Max | $790.00 | $579.00 | Compare | |
| iPhone 14 Pro | $720.00 | $472.00 | Compare | |
| iPhone 14 Plus | $445.00 | $410.00 | Compare | |
| iPhone 14 | $380.00 | $350.00 | Compare | |
| iPhone 13 Pro Max | $650.00 | $440.00 | Compare | |
| iPhone 13 Pro | $560.00 | $399.00 | Compare | |
| iPhone 13 Mini | $370.00 | $270.00 | Compare | |
| iPhone 13 | $400.00 | $262.00 | Compare | |
| iPhone 12 Pro Max | $381.00 | $346.00 | Compare | |
| iPhone 12 Pro | $293.00 | $267.00 | Compare | |
| iPhone 12 Mini | $180.00 | $163.00 | Compare | |
| iPhone 12 | $213.00 | $195.00 | Compare | |
| iPhone 11 Pro Max | $289.00 | $252.00 | Compare | |
| iPhone 11 Pro | $264.00 | $226.00 | Compare | |
| iPhone 11 | $222.00 | $179.00 | Compare | |
| * Best market prices updated August 22nd 2025 | ||||
Data Source: BankMyCell compares over 100,000+ quotes and customer reviews from 20+ trusted buyback stores every 15 minutes via our data feeds, making us America’s #1 time-saving trade-in supermarket.
You need to decide whether to keep your old iPhone when you get a new one.
Getting rid of your old iPhone presents a classic dilemma: You need to decide between selling your iPhone directly to a buyer for possibly higher payment or trading in your device for the structured benefits of an established program. The choice between selling or trading in your old iPhone has financial implications because iPhones retain their value better than most smartphones.
Here’s the problem:
People frequently fail to understand all the benefits and drawbacks of selling or trading in their old iPhone, which can cause financial loss or unwanted complications with their device.
And that’s not all…
Your old iPhone’s condition and model, alongside your personal preferences for time savings and financial returns, determine the optimal method when upgrading to a new device.
Which option yields the best results for your old iPhone requires weighing both selling and trading it in. Understanding the Key Differences
It is essential to understand the fundamental differences between available options before deciding what to do with your old iPhone.
This is custom heading element
Selling your iPhone involves locating a buyer who can be either an individual or a buyback company to provide you with cash or a cash equivalent for your device. The transaction process involves ending your connection with the phone and occurs separately from buying a new gadget.
This means:
- The payment process involves receiving money directly through methods such as cash, PayPal, or bank transfer.
- The iPhone can be sold at any time, regardless of whether you are getting a new iPhone or not.
- Your responsibility includes locating a buyer and finalizing the sale transaction.
- Newer iPhone models in good condition can yield higher resale returns.
Trading in refers to the process where you exchange your old iPhone with a retailer or carrier for credit that goes toward buying a new device.
The trading in process requires you to hand over your iPhone to retailers such as Best Buy or the Apple Store to receive credit that helps pay for a new device or upgrade. The trading in procedure usually belongs to the steps taken when purchasing a new device.
This means:
- The Apple Store typically gives you store credit instead of cash when you trade in your device.
- The trade-in procedure usually occurs when buying a new Apple phone or another device from the company
- The trade-in partner completes the majority of steps during your transaction, which saves you time
- The convenience of this process results in receiving less money for your device than you would from a direct sale.
Think about it:
Is $350 in unrestricted cash more beneficial to you than $300 store credit usable only at a specific retailer? The core distinction between selling or trading your old iPhone depends on which option will work best for you.
Financial Comparison: Which Option Pays More Money?
The decision to sell or trade in your iPhone often reveals a clear financial answer when comparing pure dollar value but the difference depends on both the model and condition of the phone.
Selling Your iPhone: Maximum Return Potential
Directly selling your iPhone to another person will provide you with the highest possible financial return. This section illustrates financial outcomes when compared to additional methods.
- Private Sale (eBay, Facebook Marketplace, etc.) 100% (baseline) for a fully functional device
- Regarding Buyback Services, you’ll receive 70-85% of the private sale value for an iPhone that is in good condition.
- The Apple Trade-In program at the Apple Store provides customers with 60-75% of their device’s private sale value.
- Carrier Trade-In: 40-60% of private sale value
A used iPhone 12 Pro that maintains good condition and functions well as a great phone could earn:
- $350-400 through private sale
- $300-340 through buyback services
- $250-300 through Apple trade-in program
- $200-250 through carrier trade-in
Do you want to secure the highest possible selling price for your iPhone? BankMyCell lets you assess buyback store offers to achieve the highest possible return for your iPhone.
Convenience Factor: Time vs. Money
Even though private sales of your old iPhone generate higher prices, the convenience advantages of trading in your phone through a trade-in program may justify accepting a smaller financial return.
Private Sale (Most Effort):
- Prepare your iPhone listings by adding photos and detailed descriptions.
- Engage with interested buyers who want to purchase your used iPhone
- Arrange meetups or shipping your device
- Process payments and deactivate your iCloud account during the trade-in.
- The possibility exists that fraudulent buyers or troublesome customers will acquire your iPhone.
Buyback Services (Moderate Effort):
- Evaluate offers from multiple services to sell your Apple devices.
- Send your device using the label that comes with the process.
- The payment and inspection process occurs after they verify ownership of your iPhone.
Apple Store or Retail Trade-In (Less Effort):
You can transport your device to an Apple store or request Apple to receive it by mail.
Get instant credit at the Apple Store for your new iPhone purchase when you trade in your old device.
Carrier Trade-In (Least Effort):
Your upgrade process often takes care of this service completely.
The trade-in process can be completed online or at a physical store when you replace your current phone.
Time Consideration: Quick Sale vs. Maximum Return
People who value quick phone upgrades should use trade-ins for immediate solutions because private sales require days or weeks to finalize. The payment from buyback services normally arrives within 2-5 business days after they receive the device and test your device’s battery and other features.
Security and Safety Considerations
While financial aspects are crucial when selling your old iPhone, it’s equally important to examine security concerns when deciding between selling and trading in your device.
Data Privacy Concerns
Apple and major carriers use a standardized process for data erasure and protection when accepting trade-ins. During private sales transactions you must take full responsibility for deleting all data, photos, and apps from your iPhone.
Essential security steps for either option:
- Transfer your iPhone data to iCloud or backup it to your computer using iTunes
- Sign out of both iCloud and the App Store on your device.
- Visit settings to disable the Find My iPhone feature.
- Use iOS settings to remove all data and configurations from your iPhone.
- Take out your old phone’s physical SIM card.
Transaction Safety
Private sales introduce potential dangers that are not present when opting for a trade-in.
- Meeting strangers (if selling locally)
- Shipping scams (if selling online)
- Payment disputes or fraudulent payments
- After-sales complaints from the new owner
Trading in your device removes these risks but you need to rely on the company’s evaluation of your device’s condition as well as its battery state and camera performance.
Best Choice for Different Scenarios: Which option provides more benefits when dealing with an old iPhone: selling it or opting for trade-in?
The best approach for you hinges on your unique requirements and what you value most. This decision framework will assist you in determining the most suitable answer for your situation.
When Selling Your iPhone Makes More Sense:
- Your device demonstrates excellent physical condition while maintaining strong battery functionality.
- You possess a current iPhone model that is highly sought after by buyers or you own an unlocked version of the device
- You have no plans to switch to a new device right away
- You require a cash payment instead of store credit during your purchase at the Apple Store
- You plan to dedicate time to achieve greater financial gain.
- You understand how to sell your device and clear your iCloud account information.
The best time to trade in your iPhone includes when you desire zero hassle with your old phone or prefer a direct upgrade through Apple or your carrier.
- You desire a straightforward process for managing your old phone.
- Your upgrade path includes Apple or your carrier as your service provider.
- Your phone has small problems that could make a private sale more difficult.
- Your main worry involves potential security breaches or fraudulent activities when selling your device
- You choose convenience rather than getting the highest possible return from your old device.
- You’re participating in an Apple Store trade-in promotion offer.
Preparing Your iPhone: Maximizing Value Either Way
Proper preparation before selling or trading in your device will maximize its value and help you receive the best possible return.
Physical Preparation
- Use a microfiber cloth to clean your iPhone completely.
- Get rid of any cases, screen protectors, and accessories that are on your iPhone.
- Collect the original box and any available accessories and documentation with your device.
- Capture high-quality photographs demonstrating the screen and camera operation if you plan to sell your device
Technical Preparation
- Install the newest iOS update available for your device.
- Make sure to fix any small problems that won’t cost you much to repair.
- Unlock your iPhone if it’s carrier-locked
- Document your iPhone’s specifications and condition
- Disable activation lock by signing out of your account before proceeding.
Helpful FAQ's
What additional money can I earn by choosing to sell my iPhone privately instead of trading it in?
You’ll usually earn between 15-30% more money when you sell your iPhone privately compared to trading it in. Newer models that are in high demand and have excellent battery health usually show a greater price difference when sold privately.
Selling your iPhone to strangers through online platforms can be secure if you follow several key safety measures.
It can be safe if you take proper precautions: Always use secure payment options and choose public locations for local transactions to protect yourself from online scams when selling your iPhone.
Occasionally carrier promotional trade-in deals during new iPhone launches match or surpass private sale values.
Sometimes carriers provide promotional trade-in deals during new iPhone launches which can reach or surpass private selling prices. The deals depend on buying new devices through particular carrier plans during upgrade periods.
Before selling or trading in my iPhone I should consider fixing its cracked screen.
The decision depends on whether the repair cost will result in a higher resale value for the device. Repairing a cracked screen on newer models usually results in an increase in value that surpasses the cost of the repair. When selling older phone models it is usually best to offer them without any repairs.
The duration of each selling option varies depending on the method you choose to use.
Private sales durations range from days to weeks based on demand levels. Buyback services usually complete payment transactions between 2-5 business days following receipt of your device. Apple Store and carrier trade-ins frequently provide immediate results or complete processing within 24 hours.
Wrapping It Up
Deciding whether it’s better to sell or trade in your old iPhone depends on weighing several factors: Your decision to sell or trade hinges on your desired return amount your deadline for the transaction your willingness to put in effort and your comfort with each approach.
When you evaluate the advantages and disadvantages of your choices you’ll be able to pick the option that best matches your priorities during your iPhone upgrade.
- Direct selling yields maximum profit potential while necessitating greater effort from you.
- When you trade in your device you gain immediate credit but end up receiving less value.
- Buyback services deliver a balance between attractive pricing and easy procedures.
The optimal choice for trading in your old iPhone depends entirely on your unique situation and requirements at the moment of your device upgrade.
