Before we talk about the Verizon Wireless trade-in program, here’s a scenario. If you’ve got a cell phone, chances are that, at one point in your life, you needed to upgrade. Whether it was the newest model iPhone or something from Samsung, you’ve been attracted to the “new thing” on the block.
But how to get rid of your old phone? Don’t just throw it to your dog as a chew toy – you can get some serious bucks out of it to get your new phone with a simple trade-in.
Of course, we can take care of that for you. However, Verizon also takes used devices with its own specialized program, whether you’re a current customer or looking at becoming one. Simply walk into your nearest Verizon store or go online, get your phone’s trade-in value, and kiss your old phone goodbye.
Sounds easy enough, right? While the Verizon Wireless Device Trade-in Program is certainly tempting, especially for customers, is it really the best option out there? Or in other words, is the trade-in option a plus over cash offers? Let’s take a closer look.
Contents
Can You Trade in Phones for Cash at Verizon?
Verizon Device Trade-In Steps
Verizon Wireless Trade-In Values
Trade-In Value Updates and Changes
Verizon Trade-In Deals and Promotions
How Verizon Stacks up with GadgetGone
Can You Trade in Phones for Cash at Verizon?
So does Verizon offer cash like some of its competitors? We’re sad to say it does not, as it’s more about the trade-in game.
It’s designed to earn you credit for your old phone, tablet, or wearable—“credit” being the operative word. With the Verizon Wireless trade-in program, your main payment options are either instant credit, account credit, or an electronic Verizon gift card depending on whether you are an existing or future Verizon Wireless customer.
If you prefer, there is a Paypal option as well, though it’s likely to take longer due to processing.
| • | Instant credit: Only available for existing Verizon customers who are adding a new line or upgrading their current device, depending on eligibility; can be used immediately towards down payments, for the purchase of accessories, etc. |
| • | Account credit: Only available for current Verizon customers who aren’t eligible for instant credit; after receiving the final appraised value of the device, the account credit is applied within one or two billing cycles. So, yes, you’ll have to wait a bit. |
| • | Verizon Wireless Gift Card: Available for non-Verizon customers; gift card is sent through email within two weeks after Verizon receives the traded-in device. Again, waiting. |
Verizon Device Trade-In Steps
If you want to trade-in your older, worn out device or another glorified paperweight through the Verizon Wireless trade-in program, the easiest way to do so is through their online trade-in platform. In-store trade-ins are also accepted, though COVID rules certainly apply. You just need to bring your device into the store (after checking precautions) and go from there.
Once you’ve decided to get rid of your old phone through Verizon’s website, you’ll need to follow the below steps:
| 1. | Log in to My Verizon or set up an account (this isn’t necessary to get the initial device appraisal, but you will need to be signed in to access any current promotions). |
| 2. | Choose the device you’re trading in. |
| 3. | Respond to the questions about your device and its condition. |
| 4. | Receive an instant appraisal value, then select how you want to receive your payment. |
| 5. | Give your name, address, and other information. |
| 6. | Complete your trade-in and follow the steps to send the device in. |
| 7. | Wait for your prepaid shipping envelope, then return the device with 15 days. |
The process for a non-Verizon Wireless customer trade-in is a little different. You’ll also need to supply the manufacturer, color, size, model, and carrier for the device you are trading in. Again, honesty goes a long way.
Once you’ve mailed in your device, you can check your Verizon trade-in status via the Verizon Trade-In Resource Center using your Submission ID. As we mentioned above, it can take a while, so don’t expect anything as quick as, say, our service.
Verizon Wireless Trade-In Values
When it comes to trade-in values, this is where Verizon falls short. Its trade-in program only has two device condition categories: good and damaged. However, the “damaged” category gets broken down further depending on how you answer certain questions.
In contrast, when selling your phone to GadgetGone, we give you the option of selecting between eight different condition categories, including a “cracked” category should you have a shattered screen.
Furthermore, while certain conditions may mean an offer of zilch from Verizon (more on that in a bit), the only devices we won’t buy are those that are iCloud-locked or reported as lost or stolen.
This translates to much bigger payouts when selling your device to an online buyback company like GadgetGone versus trading it in to Verizon.
In fact, while comparing the trade-in values of more current devices in a variety of conditions, we discovered that you could make around twice the amount (in cash) on average by selling your used phone to GadgetGone instead of Verizon.
It’s almost enough to consider using your Verizon phone insurance plan to fix your cracked screen and get a higher trade-in value. Check out the Verizon Wireless trade-in values below.
| iPhone 12 Trade-In Value (256GB)- Verizon | iPhone 7 Trade-in Value (256GB) – GadgetGone |
| Good: $399 | Good: $515 |
| Damaged (cracked screen): $199 | Cracked: $255 |
| Damaged (battery damage): $0 | Damaged: $50 |
| – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – | |
| Galaxy S10 Trade-in Value (128GB) – Verizon | Galaxy S10 Trade-in Value (128GB) – GadgetGone |
| Good: $56 | Good: $130 |
| Damaged (cracked screen): $28 | Cracked: $59 |
| Damaged (battery damage): $0 | Damaged: $42 |
Trade-In Value Updates and Changes
You’ve evaluated your phone’s condition to the best of your ability, got your initial trade-in value, and sent it in. Now all that’s left to do is wait for that account credit, right? Eh, not exactly.
Similar to GadgetGone, once you’ve mailed in your device and it has been received, Verizon may update the amount of the account credit they are offering depending on their evaluation of your phone’s condition. This means getting a new offer that is less than what you were originally told.
This can obviously be frustrating, especially if your phone’s trade-in value decreases. Even if you’re completely honest about the condition of it, there’s something you could’ve easily missed – or might have happened during shipment.
With GadgetGone, if you’re unhappy with the adjusted offer, we will happily send your device back to you for free, no questions asked. However, with Verizon, once you’ve sent your device in, you won’t be getting it back—even if you are unhappy with the adjusted credit amount. That’s one huge drawback to the Verizon Wireless trade-in program, sadly.
For us, that little tidbit is one of the biggest disqualifiers against using the Verizon Wireless Device Trade-In Program. It’s one thing to change your mind if the price is too low. But not getting your device back at all and forcibly accepting this new price? Nope, we’re not fans of it.
Verizon Trade-In Deals and Promotions
Every so often, Verizon offers a variety of promotions and deals related to the device trade-in program. Generally, these deals will vary based on whether you are adding on a new line to your Verizon family plan or upgrading, and they are often tied to a certain phone model.
As long as you are signed in to your Verizon account, these promos are automatic and can really help to get you an even bigger credit for your trade-in (which is especially great considering Verizon’s lower trade-in values overall).
However, even with these deals, you’ll be hard-pressed to get as much money for your device as you would by selling it to a company like GadgetGone. And, as a reminder, we can send your device back should you change your mind…and Verizon will not.
How Verizon Stacks up with GadgetGone
As far as cell phone trade-ins go, you have many options. For existing Verizon customers looking to upgrade or new customers just getting started, there can be a lot of value in using the Verizon Wireless trade-in program, namely in the form of convenience and visiting in-store.
| Verizon Pros: | Verizon Cons: | ||
| • | Taking advantage of promotional deals can net you more credit | • | No money (or next to it) for damaged or broken phones |
| • | Convenient for existing and new Verizon customers | • | Once you’ve sent your phone for trade-in, you can’t get it back – period |
| • | Fairly simply online trade-in process | • | The turnaround time can be lengthy |
| • | Decent-sized payouts | • | Tons of negative reviews and complaints about the trade-in process |
| • | Store credit is immediate, but other options take forever | ||
For most other circumstances (and significantly better reviews), GadgetGone is clearly the better choice. Unlike Verizon Wireless device trade-ins, GadgetGone offers a streamlined process and lots of happy customers.
| GadgetGone Pros: | GadgetGone Cons: | ||
| • | Cash payouts are some of the highest in the business | • | Can’t automatically apply the money to an upgraded device |
| • | A fast and easy online process | • | No store to visit |
| • | If you are unhappy with your updated appraisal, you can have your phone mailed back to you for free | ||
| • | Numerous device condition categories; we pay top dollar for broken devices | ||
| • | Quick turnaround time | ||
| • | Tons of positive reviews | ||
Whatever option you choose, selling or trading in your used devices you’re no longer using equals a little extra cash in your pocket, or money towards your new phone. You’ll ensure that the device is no longer cluttering up your house and you help the environment by safely disposing of the phone.
Not to toot our own horn, but GadgetGone offers greater cash value, even on damaged phones. And should you change your mind on what’s on the table, we’ll send it back to you no questions asked. Verizon, um, won’t.
The choice is yours, but it’s pretty clear which way to go when it comes to value, convenience and getting the most out of your old phone! Verizon wireless trade-in is okay, but shop around.
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