Getting a new Apple product can be pricey but if you’ve already got one it can help take the bite out of that purchase. Apple’s Trade In program lets send back all but the oldest iPhones, Macbooks, and other devices for credit toward something new. Although it doesn’t give you the absolute best prices you might get selling on a site like eBay, Trade In has a number of advantages worth considering.

How It Works

Apple’s Trade In program gives you the option to send in an old Apple device (or select phones from other manufacturers) for credit toward a new one. You can get a quote online to see how much your device is worth in a few seconds by entering the serial number and quick condition description.

Assuming you accept the estimate, Apple will send you a box with a prepaid shipping label. Send it back within 14 days and you’ll get Apple store credit.

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Buying New

Now assuming you don’t want to be left without an iPhone for example, you’ll have to buy a new Apple product. In this scenario when you’re ordering a new device you add your trade in to the cart. Once your order is complete, Apple then ships your new device and the prepaid box to send back your old iPhone.

Once Apple gets your old iPhone back, inspects it, they’ll then apply the trade in amount back to the credit card used to purchase the new iPhone. It’s essentially applying the Apple store credit back to your credit card.

Straight Store Credit

Otherwise, simply using the trade in program (without a new purchase) will apply Apple store credit to your account. This is the method you’ll have to use if you want to purchase a refurbished device. There’s one major benefit to sending your old iPhone or Macbook early (if you don’t need it immediately or have a backup) – namely, you’ll get a higher value.

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Apple products depreciate slowly but they do depreciate. And if your old Apple product is too old for any store credit, Apple has a free recycling program.

Trading Alternatives

You might not be happy with Apple’s estimate, your device is too old, or you simply want to see how much you can get other places. Obviously there’s plenty of sites to sell used electronics if you’re willing to put in the effort. Otherwise, Apple’s Trade In program streamlines the process, is fast, and consistent with pricing.