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

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 9/15/2017).



Device Verizon Flipsy
iPhone 6s Plus T-Mobile (16GB Gray) $190 credit $237 cash
iPhone 7 Sprint (32GB Gray) $290 credit $325 cash
Galaxy S6 Edge Plus AT&T (32GB Black) $126 credit $151 cash
Galaxy S6 Verizon (32GB Black) $93 credit $125 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 18% 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:

  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)

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.