Best Buy Trade-In vs Selling Your iPhone for Cash

Best Buy will take your old iPhone as a trade-in, online or at a participating store. It's convenient, especially if you're already there to buy something.

The detail that matters most is how you get paid: Best Buy's trade-in pays in Best Buy value, not cash. This guide explains how the program works, when a gift card is perfectly fine, when it isn't, and how to compare it with a cash offer before you hand your phone over.

How Best Buy's trade-in works

Here is how Best Buy describes its program on bestbuy.com.

• How you're paid: a Best Buy eGift Card, or credit back on a purchase or on installment billing. Best Buy's trade-in pages don't list cash as an option.
• Online: you get an estimate, ship the item with the carrier label Best Buy provides, and its team checks the condition and whether it works. Best Buy confirms the final offer by email and then emails you an eGift Card.
• In store: you bring the device to a participating Best Buy store and they determine what they'll offer for it.
• Before you trade in: you must turn off Find My, remove the device from your iCloud account, and reset it to factory settings.

If the value changes after you ship

Best Buy's FAQ says that for an online trade-in, if the verified value differs from your quote, you can accept the updated quote or have the item returned. It also says that return is at your cost: you pay the return shipping.

That's the same basic model as any mail-in buyer. The quote is a promise about a phone Best Buy hasn't seen yet, and the final number is set by an inspection you're not there for. Our guide on why mail-in buyers lower your offer after you ship explains why that happens and how to protect yourself.

Cash versus store credit

A Best Buy eGift Card is worth exactly what it says, as long as you spend it at Best Buy. Cash is worth what it says anywhere.

That difference is easy to wave away when you're standing in the store with a new phone in your cart. It's harder to ignore when rent is due, or when the thing you actually want isn't sold at Best Buy.

When a gift card is fine

• You're already buying from Best Buy: a new phone, a laptop, a TV, an appliance.
• The trade-in value for your actual phone, after inspection, is at or above a cash offer.
• You want everything done in one trip or one checkout.

When it isn't

• You need the money for something Best Buy doesn't sell, like bills or rent.
• You'd have to buy something you don't need just to use up the credit.
• You're shipping the phone, the value gets revised, and sending it back is on you.
• You're buying your next phone somewhere else, like a carrier store, Apple, or a used iPhone from our shop.

How the numbers compare

Before you trade in, it helps to know your cash number. The block below compares our cash offer with Best Buy's trade-in value on the date shown. Keep in mind the two are paid in different things: ours in cash or a digital payment you can spend anywhere, Best Buy's as a Best Buy eGift Card. The table lists only the models where our offer was higher, so on phones it leaves out, Best Buy may pay as much or more.

Our offer moves with condition and carrier lock, and Best Buy's depends on condition too, so compare your exact phone. You can see our current offers by storage for popular models on the value pages for the iPhone 15 Pro Max, iPhone 14 Pro and iPhone 13, or get your own estimate in seconds at /sell.

A quick way to decide

If Best Buy's gift card value is higher and you're spending it there anyway, take it. That's a fair deal. The point is to decide with both numbers in front of you, not just the one in the store.

Get the phone ready either way

Best Buy and any cash buyer both need the phone signed out and erased. Apple's guide, what to do before you sell or trade in your iPhone, covers it:

1. Back up the phone to iCloud or your computer.
2. Unpair your Apple Watch if one is paired.
3. Open Settings, tap your name, scroll down and tap Sign Out.
4. Go to Settings, General, Transfer or Reset iPhone, Erase All Content and Settings.
5. If the phone uses an eSIM, choose to erase the eSIM when asked, after your number is working on your new phone.

Our guide on preparing your iPhone before selling goes through each step.

Selling to iPhones.LA for cash

iPhones.LA buys iPhones in Los Angeles County and Orange County, working or damaged, unlocked or carrier locked.

1. Go to /sell, pick your device and answer four questions: model, storage, carrier lock and condition. Your cash estimate appears on screen as you answer.
2. Verify your IMEI or serial number before the meetup.
3. Meet us at our secured facility, at a public spot near you, or ship it in with a prepaid label we send.
4. Get paid the moment the phone checks out: cash in person, Zelle or Cash App (usually same day), or PayPal.

There's no obligation at any point, and nothing is committed until you say so. If you're also considering Apple, read Apple Trade In vs cash, and for every option in LA, see how to sell your iPhone in Los Angeles.

Frequently asked questions

Does Best Buy give cash for trade-ins?

No. Best Buy's trade-in pays with a Best Buy eGift Card, or as credit back on a purchase or on installment billing. Its trade-in pages don't offer cash.

How does Best Buy pay for an online trade-in?

After your item arrives, Best Buy checks its condition and whether it works, confirms the final offer by email, and then emails you an electronic Best Buy Gift Card.

What happens if Best Buy lowers my trade-in value?

For an online trade-in, you can accept the updated quote or have the item returned. Best Buy's FAQ says you pay the return shipping if you choose to get it back.

Do I need to turn off Find My before trading in to Best Buy?

Yes. Best Buy says you must turn off Find My, remove the device from your iCloud account, and reset it to factory settings before the trade-in.

Is it better to trade in at Best Buy or sell my iPhone for cash?

Trade in if you're spending the credit at Best Buy anyway and its value for your phone is as good as a cash offer. Sell for cash if you want money you can use anywhere, or if the cash offer is higher.