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 9/25/2018).
|iPhone X (Verizon 64GB Gray)||$555 credit||$561 cash|
|iPhone 8 Plus (Verizon 64GB Gray)||$417 credit||$467 cash|
|iPhone 8 (ATT 64GB Gray)||$320 credit||$380 cash|
|iPhone 7 Plus (Sprint 32GB Black)||$268 credit||$270 cash|
|iPhone 7 (T-Mobile 32GB Black)||$177 credit||$208 cash|
|iPhone 6s Plus (Verizon 16GB Gray)||$155 credit||$193 cash|
|iPhone 6s (Verizon 16GB Gray)||$112 credit||$124 cash|
|Galaxy S8 Plus (Verizon 64GB Black)||$240 credit||$310 cash|
|Galaxy S8 (AT&T 64GB Black)||$210 credit||$275 cash|
|Galaxy S7 Edge (Sprint 32GB Black)||$115 credit||$143 cash|
|Galaxy S7 (T-Mobile 32GB Black)||$77 credit||$130 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 15% 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.
Verizon does offer some trade-in deals. Currently, you can get $100 off an iPhone XS Max, XS, X, 8 Plus, or 8 or more with select trade-in that’s in good working and cosmetic condition. Discount applied over 24 months as a monthly credit, beginning in 1-2 billing cycles. If your trade-in has a greater value, then that value will be applied as bill credit within 1-2 billing cycles (instead of the $100 discount). See Verizon for eligible trade-in devices.
Have a phone to sell? Trust verified stores compete to offer 30% more than carrier trade-in programs. Find out how much yours is worth.
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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