If you’re here reading this, chances are that you or someone you know is a member of an exclusive group of people: current iPhone 5 or 5s owners. And they’re not alone. In fact, the iPhone 5, 5c, and 5s account for 1.72% of the smartphones operating around the world today. Contrastingly, the most popular iPhone, making up 5.62% of the devices in use worldwide, is another earlier model: the iPhone 7. This might come as a bit of a surprise considering the near-fanatical rush of Apple fans to upgrade to the latest generation year after year. Why, then, do so many people continue using older-model iPhones? Simply put, quality.
For more than a decade, Apple has set the standard when it comes to smartphones. From cutting-edge technologies to continuing access to software updates for even some early models, iPhones have the stuff that keeps people coming back for more. Or, in this case, the stuff that keeps people holding on to what they’ve got for as long as possible. In other words, if it ain’t broke, don’t fix it. These considerable perks add up to another notable benefit: consistently higher resale values. While Android brands such as Google and Huawei lose about 67% and 74% of their value in a year, iPhones only depreciate by around 43% annually. Not too shabby if you’re looking to offset your upgrade costs.
For those of you dreaming about all the cash you’ll make on your old iPhone 5, let us stop you right there. Clocking in at seven and eight years old, respectively, your used iPhone 5s or 5 isn’t going to make you rich, especially since they no longer receive iOS support. However, you can still make a few bucks by trading yours in. So, just how much is your iPhone 5, iPhone 5c, or iPhone 5s worth? Read on to find out.
Launched September 2012 and 2013, respectively, the iPhone 5, 5c, and 5s were top-of-the-line smartphones in their time. Features like the iPhone 5s’s fingerprint sensor and the iPhone 5c’s colorful exterior are still popular today. Plus, tiered pricing levels for carrier-unlocked and two-year plan options made this generation of iPhones an affordable option for Apple fans. Today, new and refurbished models can be purchased from third-party outlets for as little as $40 and as much as $400.
If you’re still holding on to an iPhone 5, 5c, or 5s, its resale value will depend on the following factors:
|•||Condition – If your phone has any issues, whether cosmetic or functional, they’ll cost you. Even a few phone screen scratches can knock its price down by around 23%.|
|•||Carrier – Is your phone locked with a certain carrier or part of the Verizon network (all Verizon phones are automatically unlocked two months after purchase)? If so, your iPhone 5 or 5s will be worth more than its carrier-locked counterparts.|
|•||Payment – Getting cash is nice, but opting for store credit might bring you more money.|
|•||Storage size – The bigger your phone’s storage space, the more value it has.|
Keeping these factors in mind, an iPhone 5 is worth between $0 and $6, an iPhone 5c is worth between $0 and $30, and an iPhone 5s is worth between $0 and $10. These specific resale values are for devices with 32GB of storage in good condition with Verizon.
Naturally, your own offer will vary according to your iPhone’s specifications. For example, an iPhone 5 that can’t turn on won’t really be worth anything. On the other end of the spectrum, a brand-new, never-activated iPhone 5s would net you $40 with GadgetGone.
When looking to trade in your used iPhone 5 or 5s, the best thing you can do is look up resale values with an array of buyback programs. Depending on which trade-in option you use, your iPhone’s resale value can fluctuate dramatically (sometimes two times as much, or more). So, while ecoATM might offer you a meager $6 on your iPhone 5c, you could get $30 by choosing GadgetGone.
Regardless of whether you’re upgrading or just looking to put cash in your pocket fast, it pays to shop around. Don’t forget to think beyond popular options like your carrier, Apple Trade In, and big-box retailers to include buyback sites like GadgetGone and outside-the-box options such as ecoATM, Amazon, and GameStop. And be on the watch for any limited-time promotions that might be available or price-matching guarantees to make sure you get the most money possible (GadgetGone will beat any of our competitors’ offers by $5).
To give you a leg up on your research, we looked up resale values from an array of buyback options. As with the above values, the following prices are for a 32GB iPhone 5, 5c, or 5s in good condition on the Verizon network. As noted earlier, your specific offer will rely on your device’s details.
|iPhone 5||iPhone 5c||iPhone 5s|
|Best Buy Trade-In (store credit)||$0||$0||$0|
|Apple Trade In (store credit)||$0||$0||$0|
|AT&T Trade-In Program (store credit)||$0||$0||$0|
|T-Mobile Trade-In Program (store credit)||$4||$0||$4|
|Verizon Device Trade-In Program (PayPal or store credit)||$0||$0||$0|
Thanks to the ever-changing resale marketplace, resale values are constantly in flux. However, this is especially the case in the 24 hours after a new iPhone is launched. Over this period, an iPhone’s resale value plunges around 30% on average. As the iPhone 12 is expected to be Apple’s first 5G-enabled smartphone, depreciation rates are expected to be especially volatile, with resale values anticipated to drop as much as 60%.
So, if you receive an offer that makes you happy, don’t be afraid to lock it in. Since there’s no obligation to complete your trade-in after getting a quote, you can keep looking around at other options until you find the best one for you. Furthermore, many buyback programs will lock in your phone’s resale value for several days (our price-lock period is 2 weeks), thus giving you plenty of time to decide.
Like we previously mentioned, the condition of your iPhone 5, 5c, or 5s is the deciding factor for its resale value. Once a buyback company receives your device, they will evaluate it by hand and with software for any existing cosmetic and/or functional issues. In the event that its assessed condition is different from the condition that was reported by you, the offer you initially received will be adjusted accordingly. Since these surprises can be more than a little disappointing, we cannot overstate the importance of being as accurate and honest about your iPhone’s condition as possible when obtaining your online offer.
What if your offer is decreased and you change your mind about trading in? Not to worry! Most buyback programs (including GadgetGone) will happily return your phone to you for free (or a small shipping fee) if you’re unhappy with your updated offer. Most, but not all. Some trade-in programs (*cough* Verizon *cough*) won’t even send your device back to you once they’ve received it.
In other words, do your research.
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