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 6/5/2018).
|iPhone 8 Plus (Verizon 64GB Gray)||$420 credit||$536 cash|
|iPhone 8 (ATT 64GB Gray)||$362 credit||$418 cash|
|iPhone 7 Plus (Sprint 32GB Black)||$258 credit||$349 cash|
|iPhone 7 (T-Mobile 32GB Black)||$202 credit||$290 cash|
|Galaxy S8 Plus (Verizon 64GB Black)||$284 credit||$345 cash|
|Galaxy S8 (AT&T 64GB Black)||$252 credit||$344 cash|
|Galaxy S7 Edge (Sprint 32GB Black)||$104 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 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.
Verizon does offer occasional trade-in deals. Current offers include:
- Up to 50% off with select trade-in. Up to $499.99 applied as bill credit over 24 months after 2-3 billing cycles when you buy an iPhone X/8Plus/8, Pixel 2/Pixel 2XL, Galaxy S9 Plus/9/Note 8, Moto Z2 Force, or LG V30/G7 on a device payment plan. Trade-in must be in good working and cosmetic condition.
- Save $100 and get up to 50% off with select trade-in. Up to $375 applied as bill credit over 24 months after 1-2 billing cycles when you buy an LG G7 ThinQ on a device payment plan. Trade-in must be in good working and cosmetic condition.
In each case, you must buy a phone on a payment plan, payouts are delayed, and they’re only applied via bill credit – not cash.
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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