The cat’s out of the bag: the Apple event enthusiasts have been waiting for is finally here. The next generation of the iPhone was unveiled Wednesday, September 7th in San Francisco.
This highly anticipated announcement comes with its usual barrage of excitables; new hardware, more capabilities, and more opportunities for the cracked screeners and serial upgraders to trade up and cash in on the good news.
But this news also presents people with a whole new decision to make: should I trade in my iPhone for the latest and greatest? And if so, when is the best time to trade it in?
Trade now or forever hold your piece.
If you’re planning to upgrade to the new iPhone, and don’t want that to become a bank breaking decision, the short answer is that you should trade in your current model. iPhone 4’s, 5’s, and 6’s all maintain solid value and at Nextworth, we’ll even pay you for your broken phone.
Okay, but when should I trade?
The good news here is that history repeats itself. Every year, right before the iPhone is announced, trade-in prices for old models hit their all-time high. If you plan to run out and get the iPhone straight away, this is the absolute best time to trade.
Typically, the new iPhone is available in stores 2 weeks after it is announced. So, let’s assume you could head online or out to your local Apple store to pick one up on September 16th.
Here’s what you need to do and when you need to do it:
- NOW!: These are the best days to trade. You will get maximum value for your phone and have 30 days to actually send your phone in. This will give you a solid 2-3 weeks to head out and get the new iPhone before having to send your old one in.
- September 15 to 30th: If you need a bit more time to decide if you’re going to upgrade to the new one, these are still good days to trade in. Values typically drop around 10-15% during this time, but it could give you up til Halloween to get the new phone.
- October 1st to 31st: Once we get into October, you’re looking at a likely 20% drop in the value of your phone. While still not so bad, you’re phone value is certainly going downhill at this point.
- November 1st to December 31st: Thinking the new iPhone might make a great holiday gift to yourself or a family member? You’ll be taking a big hit if you hold out this long. If history repeats itself, by the end of the year, values on 4’s, 5’s, and 6’s could drop by as much as 40%! In dollars, that can be a difference of $100 for the iPhone 6 or 6S. $100 bones. $100 smackaroos. $100 Benjamins.
So if you’re reading this and frantically checking your iCal through your comically cracked phone screen – don’t panic! You’ve still got time to maximize your trade-in, but the sooner, the better. And, NextWorth always gives you 30 full days to send in your phone after you’ve locked in your price. You heard us right: NextWorth allows you to lock in your price quote for 30 whole days.
Easy as 1, 2, 3
Now that we’ve got you all atwitter about your the future of your phone, you might be wondering where to start. Let us break it down for you (or you can go to our How It Works page if that’s more your speed):
- First, get a quote. You can do this by searching your device in the NextWorth data base and following the super simple steps that succeeds. Once you received your quote, you’ve secured the price lock for the next 30 days!
- Second, mail it in (or drop it off!). Like what you saw from the quote you got? Sweet! Let’s get you traded in. Simply prep and ship your device – completely free of charge. Or, if you’d rather, we partner with participating retailers that will take your device(s) in real life. Check out our FAQ for more details. Once we’ve received it, you can track our progress and get personalized updates until you get paid.
- Get that money. Either via check or PayPal. Done.
The iPhone announcement happened – what are you waiting for?