Verizon Trade-In Program Review: Is It a Good Deal?
Is the Verizon trade-in program a good deal? We investigate to help you get the most money for your used phone
How does Verizon’s trade-in program compare to other options? Let’s find out!
Is the Verizon trade-in program a good deal?
We’ll start by comparing how much Verizon will pay for some popular phones versus trade-in offers found on Flipsy.com (as of 3/1/2018).
|iPhone 8 Plus (Verizon 64GB Gray)||$405 credit||$557 cash|
|iPhone 8 (AT&T 64GB Gray)||$323 credit||$411 cash|
|iPhone 7 Plus (Sprint 32GB Black)||$259 credit||$333 cash|
|iPhone 7 (T-Mobile 32GB Black)||$204 credit||$296 cash|
|Galaxy S8 Plus (Verizon 64GB Black)||$275 credit||$370 cash|
|Galaxy S8 (AT&T 64GB Black)||$240 credit||$316 cash|
|Galaxy S7 Edge (Sprint 32GB Black)||$107 credit||$188 cash|
|Galaxy S7 (T-Mobile 32GB Black)||$85 credit||$167 cash|
|Phone not listed? Find your exact phone on the Verizon trade-in page, then compare it to offers on Flipsy.com|
As the table shows, Verizon is not the highest-paying option; in fact, Verizon pays an average of 33% less than Flipsy vendors for the models we compared.
In addition, Verizon only pays in store credit, which is applied to your bill within two billing cycles or sent as an email gift card within two weeks (for non-Verizon customers). Either way, you must spend your payout with Verizon. Flipsy vendors, on the other hand, offer cash payouts that can be spent anywhere.
How the Verizon trade-in program works
Start by visiting the Verizon trade-in program page, then:
- Browse for your phone and answer a few questions about your model and its condition
- Verizon will present an offer; if you accept the offer, Verizon will send you a prepaid shipping envelope
- Send your phone to Verizon, and once they receive it and confirm its condition you will be paid via store credit applied to your bill within two billing cycles (for existing Verizon customers) or via Verizon email gift card within two weeks (for non-Verizon customers)
Given its lower payouts (limited to store credit), Verizon’s trade-in program is not the best option for selling your used phone. If you want more money, in cash, to spend however you’d like, it pays to check Flipsy first.
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