Verizon Trade-In Program: Is It a Good Deal?

Is the Verizon trade-in program a good deal?

Verizon pays in store credit, which is either delivered instantly, 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.

Verizon pays an average of 24% less than online buyback stores for the models we compared.

Prices retrieved: 05/06/2025 Find Current Trade In Prices for Smart Phones @ Flipsy

How the Verizon trade-in program works

Start by visiting the Verizon trade-in program page, then:

1. Browse for your phone and answer a few questions about your model and its condition
2. Verizon will present an offer; if you accept the offer, Verizon will send you a prepaid shipping envelope
3. 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)

You can apply for instant credit if you’re an existing Verizon customer and you’re upgrading your phone or adding a new line. If approved, you can immediately use the credit toward your purchase. Note that if your phone arrives in worse condition than you stated, Verizon will issue a chargeback on your bill.

What about Verizon trade-in deals?

Verizon trade in deals can offer additional incentives, but you might still be able to get more value if you simply trade in your phone online or in Verizon stores. Their special deals are typically limited to getting credit towards certain phones are often only available to new customers or existing customers who are adding new lines.