Is the Verizon trade-in program a good deal? Flipsy.com investigates 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 2/13/2017).
|iPhone 6s Plus T-Mobile (16GB Gray)||$205 credit||$260 cash|
|iPhone 6 Sprint (16GB Gray)||$125 credit||$160 cash|
|Galaxy S6 Edge Plus AT&T (32GB Black)||$138 credit||$216 cash|
|Galaxy S6 Verizon (32GB Black)||$120 credit||$157 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 30% 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.