Financial Planning for Regular Folks
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How to Cash In Your Old Electronics

How to Cash In on Your Old Electronic Devices

One of the realities of the modern technological world is that your electronic devices are becoming obsolete more quickly … sometimes at the time you’ve even bought them.

It seems a shame, and as you replace your old electronic devices with new ones, you’re stuck with the dilemma of getting rid of them and wondering how to cash in your old electronics so that you get back some value. In many cases, your old electronic devices aren’t worth much money. Yet emotionally, getting something back for them matters and you feel resistant to the idea of just giving them away or throwing them out in the recycling bin.

Well, in many cases it is possible for you to sell your old electronics instead of relegating them to the closet or kitchen door. Often times, there may be someone else who would be thrilled to own your obsolete electronic device.

Tips for How to Cash In On Your Old Electronics

Let’s discuss several options that may enable you to receive some value from those old electronic devices of yours.

cash in your old electronics - photo

Here are some tips on how to cash in your old electronics

1. Trade it on Amazon

Amazon Trade-In is a program that will give you credit for your electronic item.

  • After providing Amazon with an accurate description of the item, they will present you with an offer. If you accept it, you then send the item to Amazon at their expense. After inspecting the item, they give you an Amazon gift card.

2. Nextworth.com

Nextworth.com has a similar program. The basic logistics are the same, but you have additional payment options. You are able to choose between a check, receiving money in your PayPal account, or a Target gift card.

  • In fact, if you’d rather not go through the hassle of shipping your item, you can drop it off at your local Target store in exchange for a gift card.

3. eBay Instant Sale

eBay provides a fast and easy way to get rid of your items. The items can even be non-functioning. The process is similar and you’ll have the money in your PayPal account within 5 business days of eBay receiving your item. As common as PayPal has become, a free PayPal debit card is worth consideration.

4. Sell your item locally or with an eBay regular sale

This method of selling to another individual is likely to put the most money in your pocket. Keep in mind that selling your item to a business such as a pawn shop means that they’re going to resell it for a profit.

Over and above these 4 options, there are plenty of additional websites that provide you a way of getting some value out of your old devices. Gazelle is probably the most well known.

How to Get the Most Cash for Your Old Electronics

Here are some tips to help you get the highest possible price and the most cash for your electronic items:

1. Sell your item at the best time

The best time to sell your old electronic device is as soon as possible. Once you have replaced the item, immediately get rid of the old one. Letting the item sit in a drawer for six months will only result in you getting less money for it.

2. Keep the accessories

Needless to say, you’ll get considerably more money if you can provide the charger, box, instructions, and any other items that came with your device.

  • Get in the habit of keeping all those extra items together in the closet, starting from as soon as you first purchase the electronic product.

3. Name-brand items tend to hold their value better.

For example, an old iPhone is worth quite a bit more than the vast majority of other cell phones. It’s something to consider when purchasing your electronic devices.

4. Be accurate in your descriptions.

If you’re not accurate, the item will ultimately receive a lower offer or be rejected altogether.

Other Points to Keep in Mind

Before shipping or selling any electronic device, ensure that all your private information is wiped clean from the item. Many of these items, particularly cell phones, can hold an extensive amount of personal information.

Are you ready to cash in your old electronics? Avoid letting your old devices gather dust. You could get a significant amount of money for some of them … and even a few dollars is better than throwing them away.

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