For over a decade, Apple fans across the globe have gone a bit, shall we say, over the top when a new iPhone drops. Standing in dauntingly long lines, camping outside stores, even dressing up in costume for the occasion: To call these product launches an event would be putting it mildly. Phenomenon, more like. And why? Simply put, it’s hard to argue with quality. From cutting-edge technologies and iconic design to continuing access to software updates for even the oldest iPhones, there’s just something about Apple that keeps people coming back for more. That quality translates into yet another perk for iPhone owners: reliably higher resale values compared to other smartphones.
Of course, every smartphone’s value plummets directly out of the box (just like driving a car off a dealer’s lot). However, while brands like Google and Huawei lose about 67% and 74% of their value on average over the course of 12 months, iPhones only depreciate by around 43% a year. Fortunately for iPhone owners, all that value can be harnessed at trade-in when it’s time for the newest model. Talk about making a dent in your upgrade costs!
Since you’re curious about how much your iPhone XR is worth, we think it’s safe to assume that you’re toying with the idea of trading in and trading up (perhaps when the new iPhone launches?). Luckily, the iPhone XR is no exception to the high-resale-value rule.
So, how much can you plan on getting for your used iPhone XR this fall? Read on to find out.
Launched on September 12, 2018 at a price of $749, the iPhone XR is a pared-down version of the iPhone XS. Although it has since been unseated by 2020’s iPhone SE as Apple’s most budget-conscious phone, with its singular camera, a thicker design, no 3D Touch feature, and a friendly starting price, it’s still a great choice for those looking for an affordable option without all the bells and whistles.
With the impending announcement of the newest iPhone, now is a great time to find out how much your iPhone XR is worth (more on that later). In general, the resale value of an iPhone XR depends on a variety of factors such as:
|•||Condition – If your phone has any dings, dents, and abrasions (or worse, functional damage), you can expect its value to decrease. And scratches? They’ll cost your trade-in around 23%.|
|•||Carrier – Unless you’re a Verizon customer (all the carrier’s phones are unlocked automatically two months after purchase), your wireless provider could cause your resale value to decrease between 24-51%.|
|•||Payment – While cash is convenient, opting for store credit could net you more money overall.|
|•||Storage size – More GBs now means more cash in your pocket later.|
In general, an iPhone XR is worth between $145 and $275. These specific resale values are for a 64GB iPhone in good condition on the Verizon network.
Don’t forget that your own quote will differ based on the condition of your phone. For example, the same iPhone XR above won’t be worth anything at Best Buy if it doesn’t turn on, while a shiny new, never-activated iPhone XR is valued at $315 at GadgetGone.
Looking at the above offers, you’ll notice that where you decide to trade in your used iPhone XR can make a world of difference in your phone’s resale value. While leaving an ecoATM with $145 in your pocket sounds like a win, you might change your mind when you see the $275 you could get from GadgetGone by simply shipping your phone in and waiting a few days. And although a $207 account credit from your carrier is no small amount, what if you actually need that as cash?
In short, if you’re ready for an upgrade or simply looking for a way to make some cash fast, the best thing you can do is comparison shop for iPhone resale values at a variety of trade-in programs. Don’t just stick with your carrier, Apple Trade In, or big-box retailers like Best Buy—broaden your scope to include buyback sites like GadgetGone and wildcard options such as ecoATM, Amazon, and GameStop. And don’t forget to look for any special promotions they might be running to help maximize your money. Plus, many companies (like GadgetGone) even offer price matching if you receive a better quote from a competitor.
With just a bit of legwork, you can be sure you’re making the most money possible on your old iPhone XR.
To give you a boost, we investigated the current resale values at some popular buyback options. Please note that the values below are for a 64GB iPhone XR with Verizon in good condition. Your specific quote will vary according to your iPhone’s storage size, condition, and carrier.
|Verizon Device Trade-In Program (PayPal or store credit)||$266|
|T-Mobile Trade-In Program (store credit)||$207|
|Sprint Buyback (store credit)||$207|
|AT&T Trade-In Program (store credit)||$210|
|Best Buy Trade-In (store credit)||$250|
|Apple Trade In (store credit)||$270|
If you’re already daydreaming about that new smartphone, don’t get carried away just yet. iPhones may have consistently higher resale values, but there’s one thing that can cause even the most persistent to take a nose-dive: the announcement of a new iPhone model. Following its release, you can count on trade-in values to plunge around 30% just in the first 24 hours. This time around, that depreciation rate could even double, as this is anticipated to be Apple’s first 5G-enabled iPhone.
Our recommendation? Act fast. If all that pressure makes you nervous, don’t be. Many trade-in options will lock in your price for you (GadgetGone will save your offer for 14 days), giving you lots of time to shop around for quotes before making a decision. Don’t be afraid to leverage this while iPhone XR resale values remain high.
Another factor can also cause your resale value to fluctuate, this time after the trade-in process has begun: your phone’s condition. As they say, beauty is in the eye of the beholder, and that fact holds true here as well. You might look at your beloved iPhone XR and think it’s in good condition, but the evaluator and the software they use may not agree, especially if there are issues hidden below the Gorilla Glass surface. So, don’t be shocked if your offer decreases as a result.
Being in this business, we’ll be the first to acknowledge that this can be a tad frustrating. That’s why we (and many other buyback options) will happily send your iPhone back to you for free, with no questions asked, if you’re not satisfied with your updated offer. However, that’s not the case with all trade-in programs (cough cough, Verizon, cough).
In other words, do your research.
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