iPhone 13 Pro Verizon Trade-In - Will I ever get $400 for my SE 2020 again?

[thehavensgrey]

Hey there, I have an iPhone SE 2020 and am getting antsy to upgrade for a better camera system, battery life, and screen size. I am a late adopter so I'm fine grabbing an iPhone 13 Pro now rather than waiting for the 14, but I'm not sure if the current Verizon deal is as good as it's going to get for me.

Basically I can get $400 trade-in credit for my SE, which would give me a $19/mo payment for 36 months to cover the $699 cost of a 256 GB iPhone 13 Pro. I have no real reason to do this now other than having the money and wanting it before a big international trip this summer.

My frugal side says this is foolish given that my SE works fine, but I've never loved it and I'm wondering if I'll ever get Verizon/Apple to credit me $400 again for what is effectively a $429 device.

What should I do (assuming I have the funds for the new phone)?

 

[Sheepish-Lord]

Yeah you'll never/rarely get that price I would imagine. Just remember these companies will lock in you into that device so say Verizon gives you the $400, the payment will be spread out for 3yrs (or whatever it is) meaning you won't be able to upgrade without some type of penalty (e.g. having to pay off the full amount) or something similar. These promotions are meant to lock folks into a multi-year deal so make sure you do your research and are comfortable with not upgrading for a long time.

 

[thehavensgrey]

Yeah you'll never/rarely get that price I would imagine. Just remember these companies will lock in you into that device so say Verizon gives you the $400, the payment will be spread out for 3yrs (or whatever it is) meaning you won't be able to upgrade without some type of penalty (e.g. having to pay off the full amount) or something similar. These promotions are meant to lock folks into a multi-year deal so make sure you do your research and are comfortable with not upgrading for a long time.

Thank you for the feedback, and for sure. The SE 2020 was kind of a bridge phone for me at the time when I was transitioning off a work phone that doubled as my personal. Now I'm ready to buy a long-term option and so it would certainly be my plan to keep the iPhone 13 Pro for a long, long time.

 

[B_mark_R]

Do it, you won't have any ragerts! 13 pro is an amazing device!

 

[Ram65]

It’s a good deal definitely worth the upgrade and you’ll also be up able to use 5G ultra wideband

 

[Mark Stone]

A $400 trade in for that device is very good. I’d do it - the 13 is awesome.

 

[jav6454]

Tread lightly as multi-year contracts are becoming a thing again in these trade-in offers.

 

[B_mark_R]

Tread lightly as multi-year contracts are becoming a thing again in these trade-in offers.

Beat them at their own game.

 

[jav6454]

Beat them at their own game.

Normally to do that, you would want to go with the selling it yourself. But it's hard and I usually recommend cash only.

 

[B_mark_R]

Normally to do that, you would want to go with the selling it yourself. But it's hard and I usually recommend cash only.

I find the oldest, most obsolete device on their trade in list, purchase it for usually around $110, trade it in for a free new iPhone. I know I'm on the hook for 36 months of service, but let's be honest, I'm happy with my service and price so I'm not going anywhere.

 

[flybub]

I'm considering doing the same. My primary phone has been a Note 10, but I had to send it to Sammy for a repair and I used an XR we had laying around the house. But I could trade in the Note and get a 13 (non-pro) with no monthly payment. It's really tempting because I'll never get $900 for a trade in again on a 3yr old Samsung device.

 

[nburwell]

Most other carriers are giving around $200 for the 2020 SE. So it's definitely a good deal to take advantage of.

 

[thehavensgrey]

Tread lightly as multi-year contracts are becoming a thing again in these trade-in offers.

Say more? I am pretty much used to multi-year deals at this point. No, I don't like that it's 36 months and it's not lost on me that I'm getting a lower monthly payment in exchange for a pricier phone, but my working theory is that I pay it off and make the phone last longer than 3 years, thereby still "winning". Is there a different way to think about it?

 

[thehavensgrey]

I find the oldest, most obsolete device on their trade in list, purchase it for usually around $110, trade it in for a free new iPhone. I know I'm on the hook for 36 months of service, but let's be honest, I'm happy with my service and price so I'm not going anywhere.

This works? It's brilliant!!!

 

[thehavensgrey]

I find the oldest, most obsolete device on their trade in list, purchase it for usually around $110, trade it in for a free new iPhone. I know I'm on the hook for 36 months of service, but let's be honest, I'm happy with my service and price so I'm not going anywhere.

I'm playing this theory out. It looks like I could see my SE 2020 sight unseen on a site like Gazelle for $175, buy a junky iPhone 11 locally for $100, and then trade in the 11, getting $800 trade-in credit. Is that the basic idea?

 

[B_mark_R]

What would I want to do then with my old/current phone (SE 2020)? Sell it myself, right?

Sell it to an individual or a company like backmarket, gazelle et al.

 

[B_mark_R]

This works? It's brilliant!!!

You can get an iPhone se gen3 on walmart.com for $252 outright. Then go to best buy and get $800 off iphone 13 pro with trade in of the se.

 

[yitwail]

It's a great deal, assuming you either have a 5G unlimited plan or want to upgrade to one, because I assume that's a requirement of the deal.

 

[theanimala]

I just did this with an iPhone 11, got $800 and traded in for an IPhone 13. I have no plans on leaving Verizon, and in reality I don’t have to wait 36 months. If I decide to upgrade again in 24 months, I will lose out on $266 in upgrade credits. Still got paid way more on a phone that I could have sold it for myself.

 

[Che Castro]

I got $350 for mine on at&t just yesterday
Got a 13 mini

 

[ght56]

You'll probably get the option again, that the other two carriers will eventually try to match or beat it, and that you may want to weigh the costs against buying an unlocked phone outright and going with a MVNO. I pay $10 a month for my voice/text/data right now that runs through the Verizon network and it completely suits my needs. Even if I am getting a new free (i.e., subsidized) iPhone Pro every other year from the three main carriers, it's still more expensive for me to go with them. (Obviously your data usage patterns would play a huge role in determining if this might be beneficial.)

 

[mreg376]

Hey there, I have an iPhone SE 2020 and am getting antsy to upgrade for a better camera system, battery life, and screen size. I am a late adopter so I'm fine grabbing an iPhone 13 Pro now rather than waiting for the 14, but I'm not sure if the current Verizon deal is as good as it's going to get for me.

Basically I can get $400 trade-in credit for my SE, which would give me a $19/mo payment for 36 months to cover the $699 cost of a 256 GB iPhone 13 Pro. I have no real reason to do this now other than having the money and wanting it before a big international trip this summer.

My frugal side says this is foolish given that my SE works fine, but I've never loved it and I'm wondering if I'll ever get Verizon/Apple to credit me $400 again for what is effectively a $429 device.

What should I do (assuming I have the funds for the new phone)?

Be aware that this change by Verizon from 24 to 36 monthly payments and promotional credits is the equivalent of a 3-year contract, which they never did before. Not sure that a $400 "credit" spread over three years (a stinking $11/month??) is something worth tying yourself up with.

 

[webkit]

Hey there, I have an iPhone SE 2020 and am getting antsy to upgrade for a better camera system, battery life, and screen size. I am a late adopter so I'm fine grabbing an iPhone 13 Pro now rather than waiting for the 14, but I'm not sure if the current Verizon deal is as good as it's going to get for me.

Basically I can get $400 trade-in credit for my SE, which would give me a $19/mo payment for 36 months to cover the $699 cost of a 256 GB iPhone 13 Pro. I have no real reason to do this now other than having the money and wanting it before a big international trip this summer.

My frugal side says this is foolish given that my SE works fine, but I've never loved it and I'm wondering if I'll ever get Verizon/Apple to credit me $400 again for what is effectively a $429 device.

What should I do (assuming I have the funds for the new phone)?

You're not truly getting $400 since Verizon also offers hundreds in incentives to KEEP your current phone, depending on plan, terms, etc. You may actually be better off selling the SE yourself, buying an iPhone 13 Pro separately and then take advantage of upgrade/switch incentives that may be available.