The Motley Fool cites a Gallup survey that states 54 percent of smartphone users replace their phone only when it becomes completely obsolete. Forty-four percent upgrade their phone as soon as their provider allows it which is about every two years, and 2 percent state they upgrade their phone every year when a new model is released.
I usually find myself in the first category, although I regret to admit I’ve purchased about three phones in the last two years since I’ve dropped mine quite a few times. It’s been a similar story for my husband and he actually keeps a box in storage with all his old phones he’s had throughout the past six years. We also still have all of our recent smartphones that have been broken or ones that we’ve simply moved on from. That’s a lot of phones! As an added bonus, recycling your old phones can help you get rid of unnecessary clutter in your home while allowing you to earn some extra money as well.
How to Recycle Your Old Phone(s) For Money
If you want to recycle an old phone for a profit, you have a few options to consider.
1. Sell Your Phone to Your Provider
Sometimes cell phone providers will have buyback programs for your smartphone depending on how old it is. If your phone is in usable condition, you may be able to make a little money off it this way. Verizon Wireless offers a service like this and you can check it out here.
2. Trade in Your Phone for a Discount
Other times, providers will ask you to turn in your old phone if you are looking to purchase a new one. They may have an offer available that allows you to trade in your old phone for a discount on a brand new cell phone. With this option, you may not actually receive cash in your hand, but you’ll be saving money by paying less for a newer phone.
3. Sell Your Phone Online
If you’d like to sell your old phone online, there are a few ways to do it. For starters, you can list your phone on a site like Ebay, Craigslist or Amazon. This is a good option if your phone is actually usable and if you’d like to have more control over how much money you receive for it. Take quality photos and be honest about your phone’s condition for the best results.
Another option would be to sell it through a phone buyback service. EcoATM is not an online service, but rather a kiosk in the mall that you can submit your phone to in exchange for cash. Once you find a kiosk station near you, you can go there and place your device at the testing station. EcoATM will then scan your device and examine it in order to find the best purchase price from a network of buyers. If you agree to sell it, you’ll receive cash right on the spot. It’s that simple.
Another service you can try is Usell. While they favor iPhones, they purchase many other brands as well like LG, Blackberry, Motorola, Samsung, Sprint, Nokia, Sony and more. They offer free shipping for your device and a 30-day price guarantee.
As you can see, there are quite a few ways to cash in on your old phone. Instead of throwing it away or letting it sit around your home collecting dust, consider recycling it for cash or a discount on a brand new phone.
Photo: Flickr: Vincent Diamante
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