Want a new iPhone? A carrier trade-in isn't your smartest move - Cincinnati News, FOX19-WXIX TV

Want a new iPhone? A carrier trade-in isn't your smartest move

So you want a new iPhone? (Source: WXIX) So you want a new iPhone? (Source: WXIX)
CINCINNATI, OH (FOX19) -

So you want a new iPhone? A trade-in to your carrier is not your smartest move.

If you can’t wait to get your hands on a new iPhone, you may be thinking of trading in your current one to help pay for it. But the deal your carrier is offering likely doesn’t come close to what you could get elsewhere.

We compared offers for iPhone 7 across a number of sites, including eBay, Craigslist, Swappa, Gazelle, and the carriers’ own offers for trade-ins.

We found the best offers from eBay today, with a selling price ranging from about $630 to $832 for an iPhone 7 Plus, depending on condition, storage and accessories. That’s about $100 more than the going price on Craigslist right now. The offer we spotted on Swappa for an unlocked, mint condition 7 plus was $549. Gazelle was offering $420 for the same phone.

But all of those offers were better than the $345 AT&T was offering for that phone as a trade-in.

And the trade-in offer from T Mobile for that same phone -- just $323.

The Simply Money point: While the trade-in option may be easiest, you could lose several hundred dollars’ worth of value that way. It’s worth your while to get several offers before you commit.

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