Are you the type of phone user that enjoys upgrading their device on a yearly basis? In that case, taking in account the resale value of the phones you tend to buy could be useful. According to figures, iPhone reigns supreme in terms of resale value.
iPhone’s Value Rides High
It is reported that iPhones retain 53% resale value after a period of 18 months, which is 11% higher than Android. iPhone buyers stand to make more money from their old handsets, affording them more cash to buy the newer gadget.
Depending on when you sell your phone, you can stand to make even more back. One year after purchase, iPhones can pull in 63% of the suggested retail price, compared to 46% for Android. 6 months after purchase, iPhones will pull in 89% of their suggested retail price, compared to Android’s 66%.
Refurbished Phones, Smart Choice?
After phones have been traded in and sold, they usually pop up on the market as a refurbished product. Eager tech geeks who want to save money, or simply don’t have the cash to buy new will likely make sure of your old phone by cashing in with a best buy coupon code on reputable refurnished sale sites like Best buy, Amazon, or buy from the manufacturers’ own website like Apple’s Refurbushed/Recycle program. This website gives a helpful guide and list of manufacturer’s who sell refurbished electronics.
Don’t Want to Sell? Recycle Your iPhone
If you are in the mind to use your old iPhone in a creative and quirky way instead of selling it or giving it away, here are some weird ideas of using your old phone. Some of the more strange ideas: using the wifi option, you can turn your iPhone into the most expensive TV remote ever, or turn your old phone into the smallest and most efficient scanner ever with the camera function.
New Hope for Android
In 2010, companies who buy up used handsets were reportedly paying more for a broken iPhone than a perfectly good Samsung handset. The introduction of the Samsung Galaxy S II changed the game making Samsung phones the highest resale value of any other Android model, second only to Apple. With the introduction of Samsung S4 this year, we could be seeing much different resale figures by the end of the year.
Money Saving Tips before Buying
There are some Androids that fare better than others in the resale game. Pre-paid Android phones are typically inexpensive and retain value well. The Motorola Triumph, HTC Wildfire, and Samsung Exhibit 4G are found to retain 86% of the retail price.
Don’t get suckered into spending more on extra GBs when buying an iPhone. An additional 8GB of hard drive costs $100 but surprisingly tacked on a mere $10 to the resale value. The resale market doesn’t value extra hard drive space when considering the resale of an iPhone, so unless you have a gigantic music library you cannot live without – buy the cheapest and smallest iPhone.
It’s cheaper to break your contract and pay the fee than to buy a phone outright. Carriers want you to lock you into a contract so they create incentive to entice you into signing on the dotted line. Breaking the contract will typically be $100 cheaper than buying a no-contract unsubsidized phone.