Selling your phone usually gives you more choice over the money, while trading it in is the easiest option when you are upgrading anyway. The right answer depends on three things: how you want to be paid, how much effort you will accept and how much risk you can live with.
Anyone typing “sell my phone” into Google gets a wall of offers, so it helps to compare the routes before the prices. There are three main ways to do this in the UK, and each suits a different person.
What is the difference between trading in and selling a phone?
Trading in means handing your old phone to a retailer or network, usually when you get a new one. Selling means exchanging it for money, either with a buy-back company or with a private buyer. The key difference is often what you receive and where you can spend it.
| Route | What you get | Effort | Main risk |
|---|---|---|---|
| Manufacturer trade-in | Credit or gift card | Low | Value tied to that brand |
| Network trade-in | Varies by network | Low | Terms differ, so read them |
| Buy-back site | Bank payment | Low to medium | Revised offer after inspection |
| Private sale | Cash or online payment | High | Scams, returns and time |
How does trade-in work with Apple and the networks?
Trade-in value usually goes towards something from the same company, though the rules differ. Apple’s UK trade-in offers credit towards a purchase or an Apple Gift Card, and says it will recycle a device that is not eligible for credit.
Networks vary. Three lists three choices: cash to your bank account, credit towards another purchase in its stores, or value put towards a new device loan. It says bank payments usually arrive within six working days. Check your own network’s page, as these terms can change.
The appeal is simplicity. You deal with one company, and the old phone goes when the new one arrives. For many people, that is worth something.
Is selling your phone worth the extra effort?
Selling is worth the effort when the phone has real value left and you want cash. A phone worth £20 rarely justifies a private sale, whereas one worth £200 may well do.
MoneySavingExpert says selling on eBay can often get a better price, but warns that it takes more work and comes with fewer guarantees. Buy-back sites sit in the middle. You get a set price without finding a buyer, and you post the phone off.
The cost of a private sale is easy to underrate. You need to take photos, write a listing, answer messages, arrange payment and deal with postage or a meeting. You also carry the risk of a dishonest buyer. Add that time to the sum before comparing prices.
What should you check before accepting a buy-back quote?
Before accepting a buy-back quote, check how long the price is held and what happens if the buyer disagrees with your condition rating. Two companies can show the same headline figure and treat you very differently.
- Quote length: MoneySavingExpert notes that some quotes last 72 hours and others 14 days.
- Revised offers: Ask what happens if the phone fails inspection, and who pays to send it back.
- Payment: Check the method and the timing.
- Postage cover: Standard cover may not match the phone’s value, so take this seriously on a higher-value handset.
- Condition rules: Read the definitions for each grade. A rating of “good” means different things at different firms.
Take clear photos before you post anything, including the screen with the phone switched on. They help if there is a dispute.
Which route suits which person?
The best route depends on your situation, more than on any general rule. Use this as a guide.
- You are buying a new phone today: Compare the trade-in figure with a cash quote first. If they are close, trade-in saves time.
- You want money in your bank: A buy-back site or a network that pays cash suits you better than gift cards.
- Your phone is recent and in excellent condition: A private sale may be worth it if you have the time.
- Your phone is cracked or faulty: Private buyers are harder to find, so a buy-back quote is often simplest.
- Your phone is very old: Value may be low, so recycling may be the sensible end point.
For an honest comparison, get a figure from each route on the same day. Sites offering alternatives to trade-in ask for the exact model, storage and condition, so have those ready and use the same details everywhere.
What should you do before handing over your phone?
Whichever route you choose, back up your data and erase the phone first. The National Cyber Security Centre advises making sure you have a backup, knowing which accounts you use and checking that any security codes will work on another device. Then use the factory reset option.
Do this after you have moved everything to your new phone. Many apps use your old handset to confirm logins, so test them before you erase anything.
The quick way to decide
Get a trade-in figure, a buy-back quote and a rough private sale price for the same phone. If the gap is small, take the easiest route. If it is large, decide whether the extra money is worth your time and risk. Twenty minutes of comparing today can settle it.