The cost of new smartphones is at an all-time high, some topping $1,000. Customers saving hundreds of dollars buying older models with mostly the same features and cashing in by trading old phones for new ones.
With the price of the latest smartphones pushing $1,000, the second-hand market is picking up.
Shante Wilkerson is looking for a used phone for her mom at a good price. She says, “she doesn’t need a lot of the bells and whistles and all the new stuff. But, at least with the iPhone 6 or the iPhone 6S I’m looking to save probably a good $200”.
Many carriers and sites like Gazelle and Glyde are selling refurbished phones. We found a used Galaxy S7 for under $200, less than half the price of a new one.
Kelsey Sheehy says, “the other big aspect is the storage capacity. You get a lot more bang for your buck with the storage if you go with a used phone option.”
And, if you’re planning to upgrade from an older model, you can also make some money. You can use sites like Flipsy to find out where to sell your phone and what it’s worth. Some models are worth more than $400.
Experts say before you sell that phone, make sure your device is no longer under contract. Also, unlink accounts like your Facebook and email from the phone and finally, perform a factory reset to wipe any stored data.
–Stephanie Ramos, ABC News