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 4/4/2018).
|iPhone 8 Plus (Verizon 64GB Gray)||$395 credit||$563 cash|
|iPhone 8 (ATT 64GB Gray)||$340 credit||$442 cash|
|iPhone 7 Plus (Sprint 32GB Black)||$240 credit||$345 cash|
|iPhone 7 (T-Mobile 32GB Black)||$199 credit||$299 cash|
|Galaxy S8 Plus (Verizon 64GB Black)||$260 credit||$371 cash|
|Galaxy S8 (AT&T 64GB Black)||$255 credit||$309 cash|
|Galaxy S7 Edge (Sprint 32GB Black)||$103 credit||$161 cash|
|Galaxy S7 (T-Mobile 32GB Black)||$80 credit||$168 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 35% 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.
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.
Verizon does have some current trade-in offers, but they require you to purchase a new device on a payment plan and, like their standard trade-in program, payouts are via bill credit, applied within two to three months. Verizon’s current offers are:
- Up to $499.99 trade-in credit for the iPhone 8 Plus, iPhone 8, Galaxy S8 Plus, or Galaxy S8 when you buy an iPhone X on a payment plan, payable within 2 to 3 billing cycles
- Up to $399.99 trade-in credit for the iPhone 7 Plus or iPhone 7 when you buy an iPhone 8 Plus or iPhone 8 on a payment plan, payable within 2 to 3 billing cycles
- Up to $279.99 trade-in credit for the Galaxy S7 Edge or Galaxy S7 when you buy an iPhone X, iPhone 8 Plus, or iPhone 8 on a payment plan, payable within 2 to 3 billing cycles
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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