A few weeks ago, Stephanie Atkinson offered a comprehensive overview of the trade-in deals available to consumers lookingfor an iPhone 7 upgrade.
Unfortunately, the “free iPhone 7 with iPhone 6/6s trade-in” deals at the 4 major carriers are already done. If you’re one of the consumers who hesitated on the aggressive deals, you might be wondering what your iPhone 6/6s trade-in options are , for now and in the future. The general rule of thumb is that your current device is never as valuable as it is right now. However, things get a bit trickier when it comes to iPhone trade-in deals.
The Challenge with Major/Minor Models
Unlike competing Android devices, the iPhone release schedule follows a strict major/minor model. For example, the iPhone 6 was released in 2014 (the major release) and the iPhone 6s was released in 2015 (the minor release). This predictable model has been causing consumers to make difficult trade-in decisions for years.
The biggest challenge with the major/minor model (from a trade-in perspective) is the differences in carrier offerings between the major and minor release years. With the carrier’s renouncing their free iPhone 7 trade-in deals recently, you might be tempted to hold onto your iPhone 6 or 6s until next year when the iPhone 7s comes out. The problem is that you can’t count on the same trade-in deal in the minor year as the major year.
When the iPhone 6s released in 2015, the major carriers offered various deals that essentially amounted to a $300 credit toward a new iPhone. While $300 is a good deal in many cases, considering that a two-year-old iPhone in good condition can be worth under $200, it doesn’t equate to the $650 value of a new iPhone.
Your iPhone 6 or 6s may never officially be as valuable as the $650 credit it was worth when the iPhone 7 was released—but that doesn’t mean you’ll have to settle for a sub-par trade-in deal when the iPhone 7s debuts.
Special Trade-In Offers Are Almost Guaranteed
Now is the not the time to get discouraged that the initial iPhone 7 trade-in deals are done. Black Friday and the holiday season are almost upon us, which almost certainly put consumers in a power position once again.
There has never been more competition amongst the big 4 carriers, so iPhone 7 deals are almost guaranteed to emerge in the coming weeks. The value may not equal the $650 of initial deals, but an iPhone 6 or 6s should prove more valuable than its actual trade-in listing might suggest.
Retailers are likely to offer their own trade-in deals, but you should pay more attention to the
carrier deals this coming holiday season. Carriers haven’t outfitted retailers to fulfill trade-in deals the way they can in main stores. You might be able to pick up a new device at a retailer, but the rebate for your trade-in device will require separate mailing on your own.
The big 4 carriers are constantly vying for new customers and the coming holiday season is sure to boost your device’s trade in value.
Your Device Is Losing Value—But You’re in Control
Whether there are iphone trade-in deals or not, the general rule of thumb regarding trade-in values still rings true—your device is worth more right now than it will be tomorrow. However, it’s important to look outside the iPhone trade-in deals themselves. In an effort to poach customers from each other, the big 4 carriers have been offering intermittent deals where they’ll pay off your current contract to switch services. The value to pay off your current device balance and get a new phone for free could potentially match the $650 of recent free iPhone 7 deals.
Even though your current iPhone is losing value, don’t forget that you’re in control. Carriers will seemingly offer the world to gain your business. The bottom line is that, to maximize your device’s trade in value, act fast—but don’t act rashly.
If you want to learn more about the mobile trade-in landscape, contact us today or download our infographic.