Apple has launched its iPhone trade-in policy, officially called the “iPhone Reuse and Recycling Program” (iRRP). It is available in Apple stores across the USA and offers store credit towards a new model iPhone; not cash.
This isn’t the first time a retailer has done this kind of thing. Gazelle has been offering cash trade-ins for iPhone models and other gadgets back as far as 2007 and Amazon also offers its own trade-in program. Where Apple has the advantage here is in customer reach and confidence, which may be enough to win over many a customer despite the difference in deal values.
So much fine print
You can’t simply walk in to an Apple store and trade in an iPhone for future credit; it doesn’t work that way.
Anyone looking to trade in their old iPhone will need to already be eligible for a phone upgrade from their carrier on a post-paid plan. The customer must then sign up to a new plan via Apple in order to receive their new iPhone model.
The iPhone 3G, 3GS, 4, 4S and 5 are all valid trade-ins on this program, albeit with limited values. A 16GB iPhone 5 will get you about $250 to $253 if it’s in good condition. An iPhone 4 8GB (GSM version) will return somewhere between $120 and $140, while the CDMA version will fetch just $80.
How it compares
Apple’s iPhone Reuse and Recycling Program doesn’t exactly offer the best prices on the market. $253 off of a new iPhone 5S for trading in your iPhone 5 admittedly sounds appealing, but it’s not going to be great for everyone thanks to the contract restrictions.
Interestingly, Apple’s own standard trade-in service offers better prices than the iRRP. On the iRRP a 16GB black iPhone 5 in good condition but without the wire and wall charger will fetch you an Apple Gift Card with value as high as $321 for an AT&T-locked handset, or $281 for a Verizon, Sprint or ‘other’ model.
Amazon offers credit in the form of an Amazon Gift Card. For a 16GB black iPhone 5 you can get as much as $320 for an unlocked model. Carrier-locked models differ with $308.75 for AT&T and $377.50 for Verizon. All Amazon’s prices have the qualifying prefix of “up to” so it’s likely a phone would have to be in pretty good nick to achieve full-price.
Gazelle, unlike Amazon and Apple, offer real cash-monies. For a “Good” condition 16GB black iPhone 5 (the alternatives being “Broken” and “Flawless”), an AT&T, Verizon or unlocked model can fetch as high as $315. A T-Mobile one will go as high as $305 but Sprint owners can only get a maximum of $200.
These three systems, the standard Apple trade-in, Amazon and Gazelle, don’t require you to be eligible for a phone upgrade on a post-pair plan. Not do they need you to sign up to a new contract to receive your new device.
Apple’s iRRP is likely to draw a bit of attention in-store thanks to the Apple Genius crew, but it’s not necessarily the best option for trade-ins. That being said, it has the benefit of being done on the spot at the store where you may be buying your next iPhone from anyway, so there’s potentially a lot less hassle.
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