Why you should trade in your iPhone NOW ahead of Apple’s new launch on September 12
All recommendations within this article are informed by expert editorial opinion. If you click on a link in this story we may earn affiliate revenue.
SAVVY mobile users planning on buying the eagerly awaited iPhone 8 could get up to £455 by recycling their old handsets NOW.
Many Apple users looking forward to the newest device from the tech giant will already have an existing handset from the same company.
Fortunately for customers, it's possible to hand over your old phone in return for cash from a recycling website.
And as the countdown to the iPhone 8 much-anticipated launch begins, mobile phone experts say now is the time to cash in on your old handsets.
Data from the mobile recycling website found that selling your handset now could net you up to 25 per cent more for an Apple device than if you wait to trade-in after the iPhone 8's launch.
According to Liam Howley, marketing director at musicMagpie, once a new phone enters the top of the market, all older phone will drop in price.
He said: "By analysing both our own and industry data, we can see it really does pay to trade-in ahead of a major phone launch, especially if you are looking to upgrade to the new model.
"Naturally, once a new phone enters the top of the market, all older phones will drop in price. We see a huge rise in trade-ins ahead of any new iPhone launch as savvy consumers rush to secure the best price possible."
The amount you can get varies depending on the model of your phone.
The top price for an Apple iPhone 7 through MusicMagpie.co.uk is currently £455.
Whereas an Apple iPhone 6s Plus may fetch up to £275.
The older the handset the lower the value, for example, an iPhone 5s will only garner about £91.10.
While iPhones tend to hold their value quite well in comparison to Android handsets, you could still get up to £250 if you want to trade in your Samsung old S7 Edge and as much as £210 for a Galaxy Note 5.
Of course, there are few things you need to know before recycling your handset.
RINGING IN THE CHANGES iPhone 8 rumours, leaks and pictures – from a new infinity screen to infrared facial recognition
First, remember that to get a good price for your old phone it needs to be in good nick. You can sell phones that are broken or in bad condition, but expect to get significantly less money.
With so many recycling websites out there, it can also be hard to know which one will offer the best prices.
MoneySavingExpert's comparison tool , is one of the quickest way to find out the value of your old phone.
All you need to do is put the details of your handsets – if it’s in working or broken condition as well as its model number - into the search system and look at how the sites compare.
Things to do before sending off your old handset
HERE's what you need to do before sending your phone
- Remember to reset the factory settings on the phone so all of your data and personal information is wiped -you can do this by going onto the settings option on your phone.
- Make sure that you remove any password locks on your handset and make sure it is fully charged before it's sent away.
- The phone should also be turned off.
The tool analyses most of the main recycling websites like Fonebank, Envirofone, Simply Drop, musicMagpie.co.uk - apart from those with really bad reviews.
Once the company receives the phone and checks it over, they should send you the money.
Obviously, make sure you read the terms and conditions carefully to see how long you have to accept or reject a re-quote, and whether there is a charge to have your phone returned if you don’t accept the offer.
Here's our full guide about how to safely recycle your phone and make sure you get the best offer.
Apple, meanwhile, is gearing up for the launch of the iPhone 8 but the release date still remains a mystery.
The company seemingly confirmed that the iPhone 8 will be launched on September 12.
It has also been claimed the flagship gadget might end up having a surprising new name.
Since the release of the iPhone 7, rumours have been swirling about the features its successor will have.
Early leaks suggested there might be a Ferrari version of the device, with the super-deluxe device designed to impress.
More Apple stories
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at [email protected] or call 0207 78 24516