Trade-in your used phone: Is it worth it?
This guide offers all the tips and tricks to get the maximum trade-in value out of your used phone.
TL;DR: 5 Tips to maximize your used phone’s trade in value.
- NEVER throw away anything that comes with the new phone.
Always keep all your accessories even if you have no use for it!
- Use the correct tempered glass and phone cover to protect your device.
Use full-cover tempered glass and silicone covers. Your Gorilla-screen is not scratch-proof
- Keep track of your used phone’s warranty period.
A phone with valid warranty is worth a lot more.
- Sell your phone before your competitors do.
Sell your phone ASAP, before your competitors flood the market with the same phone model.
- Compare vigorously to sell your phone at the maximum trade-in value.
Compare using Google search engine, call to inquire fully, and you can even sell on Carousell platform if you have time.
With new smartphones being introduced every year, there are many who trade in their used phone.
These telco plans typically come with a 2-year contract.
Singapore has one of the highest used phone trade in rates in the world.
Singapore has the liveliest used-phone market in the world, with 25% of all smartphones sold in the second-hand market (source: Deloitte)
The global average is only 12 percent, according to their report released in April 2018.
Secret money-saving tips to maximise your used phone value
Is it worth to trade-in your used phone for an upgrade? Most definitely!
Follow these secret money-saving tips, and you will find yourself paying little to no money for your next upgrade!
Disclaimer: The “free” upgrade refers to re-contracting your telco plan.
Is it safe to trade in my used phone to neighborhood mobile phone shops?
YES! Contrary to widespread myths, trade-in used phones at handphone shops is very common practice. Everyone does it, and at Mister Mobile, we provide a fuss-free experience for everyone.
Benefits of phone trade in to resellers like Mister Mobile
- No privacy issue. All used handphones are factory reset before we complete the transaction.
- No need to assume responsibility after the deal.
- Receive cash on the spot.
- You can even trade in your broken phones. Most people think that used phones which have broken screens are worthless. That’s not true!
1. NEVER throw away anything that comes with the new phone.
Most people are unaware that the box and its accessories will affect the trade-in value of the used phone. Retailers deduct a chunk off the trade-in value if there are missing items.
However, there is no clear standard to determine the deduction value. It differs from shop to shop.
Every phone accessory counts!
As a guideline, it varies from $5-$20 per missing item.
Hence, it is wise to always safe-keep the box and all of its contents to ensure a maximum trade in value of your used phone.
2. Use the correct tempered glass and phone cover.
The physical condition of your used phone has the biggest impact on its trade-in value. A device with even a tiny scratch may have its value reduced drastically.
Having a phone in perfect condition after 1-2 years is difficult, but it is not impossible.
You can protect your phone with the help of protective accessories.
Your phone screen is not invincible
The hype about your Gorilla-glass phone screen is just a myth. It is NOT scratch-proof. It can only stay scratch-proof for a maximum of 3 months. Any longer than that, you will find yourself having scratches on your screen faster than you can say “Gorilla”.
Use better-grade tempered glass
Hence, the wise choice is to buy a “full-cover” tempered glass. This full-cover tempered glass covers the whole screen including the edges, which basic protectors don’t.
Although it may cost about $8-$15 more, it is definitely a good investment. Having a phone with a screen in pristine condition will save you at least $30 in deductions during trade in.
You can save even more money if it protects your screen from being cracked!
Use full-cover silicone phone casings
Also, silicone casings (also known as TPU, or soft covers) which cover all sides of your phone is recommended. A silicone casing does not leave physical marks on your phone.
Choose casings with matte finishes as it minimizes the chance of paint smudge.
Hard casings do not cover the whole bezel. Hence the exposed areas are susceptible when you drop it accidentally.
3. Keep track of your used phone’s warranty period.
A device under warranty will have a higher trade-in value. It offers the next user a peace of mind in case of defects.
Hence, tracking the warranty period will help.
Trade in value drops when your device is out of warranty
Much like a car, a smartphone’s value will only depreciate over time – this is why you should trade-in your used phone as soon as possible, especially while under warranty.
4. Sell your phone before your competitors do.
This links closely to the point above. You should sell your phone when it is under warranty, AND before the next generation launch.
Get maximum value
For example, you should sell your used iPhone X right before the iPhone XS launches. This will ensure a maximum trade in value out of your used phone before the trade-in price drops.
Catch the perfect timing
Catching the perfect time for trade-in requires research and may be a hassle. With a little effort, however, your used iPhone can easily fetch S$50 – S$100 more. Having said that, most people prefer to trade-in their used phone after buying the new one.
Do not procrastinate
We advise doing the buying and selling ASAP. This helps you sell off your phone before your competitors. Remember – you are not the only one upgrading to the latest iPhone, Huawei or Samsung phone.
The longer you delay, the more competitors you have. It will become a rat’s race to sell your phone, due to the abundance of alternatives.
5. Compare vigorously to sell your phone at the maximum trade-in value.
Last but not least, it is important to consider all avenues before selling your used phone.
Sell to resellers
Find a reputable store to trade-in your used phone. Simply use Google to search for keywords like “trade in used phone Singapore”.
Do market research
Gather a list of shops and contact them first. If you have any doubts, make sure to ask. Most shops welcome such inquiries.
Understand how each shop assess your phone
Working hard to inquire with multiple shops will help you to understand better, giving you a clear idea of the maximum trade-in value for your used phone.
As a consumer, it is important to ask carefully about the terms and conditions to prevent misunderstandings.
Why Mister Mobile
At Mister Mobile, we are accredited by CaseTrust. We provide transparent pricing tables with clear terms and conditions to tell you how much your phone is worth. Click here for more information on Mister Mobile’s trade-in prices.
You can sell the used phone yourself! The best platform in Singapore for used mobile phones is none other than Carousell. Use the Carousell app to scour through all the listings by other Carousellers.
Do not over-price your phone
Want a sure sell? No problem. Simply beat the prices of all competitors and you will find hordes queuing to snatch your phone.
Carousell is a hassle
However, we recommend selling on Carousell only if you have experience, or you are at least prepared to be patient. On top of that, your phone should be in mint condition without any defects. Otherwise, you will have a hard time selling your phone.
It is better to sell your phone to shops for instant cash. You can find tips on pro Carouselling here.
Tips to get maximum trade-in value for NEW phones.
Compare contract price and trade-in price.
When telcos introduce flagship phones, outdated models tend to plummet in price. To get the maximum trade-in value, compare the price of re-contracting versus the buy-back value of all phone models.
Do not “monkey-see, monkey-do”
It is not always true to choose the latest smartphone such as the iPhone XS Max. Depending on market demand, sometimes it’s better to get older models such as Samsung Note 9, over the newer models such as Huawei Mate 20 Pro or the iPhone XS Max.
To compare prices, head over to our trade-in page here and the re-contract price of the 3 major telcos below:
Check for telco promotions
Telcos offer promotions to attract new customers. At the point of writing this blog, Singtel had just slashed $200 off all Samsung devices. They usually dish out discounts ranging $100-$200 to clear up their stocks.
Hence, always keep a lookout for best deals to get the maximum trade-in value when trading in your new phone.
Trading in phones allows customers to get extra cash for a phone upgrade. This trend will become even more prevalent because of our unique consumer habits in Singapore.
Hence it is very important to look for a reputable dealer, and also to find the best avenue to trade in your used phone at the maximum trade-in value.
We currently have outlets islandwide: