Looking to trade your old electronics for something better, but don’t know where to start? Here’s six facts you need to know when you go to make the trade:
1. Are You Selling on Your Own?
The first step to consider is this: do you want to make a quick trade and profit little or take a while to research the trade and take home more in return? According to Consumer Reports, an independent agency that creates consumer awareness, selling your old electronics may net you more but will most likely be more difficult than trading them in.
2. Pure Trade or Value?
If you are looking to truly “trade” your electronics with someone else for theirs, the best place to do so would be on Craigslist. This website allows consumers to barter, trade, or sell for cash in any way they would like. It charges no fees for its consumer connection services, but know that meeting in person with strangers poses certain dangers.
3. Cash, or Store Credit?
If you decide you would rather have cash, or cash equivalent, value for your trade, are you okay with taking store credit? Note that, while the store credit option may seem easier, you will usually end up with more cash value by selling the item on your own.
However, if you simply want to get rid of your electronics quick, trade-ins may not be such a bad thing. Just make sure that there are no ridiculous requirements attached to the trade-in stipulations.
Also, most personal selling routes only take about seven days and a good computer these days, and the writer from Kiplinger quickly became disheartened after trading in his old electronics when he realized he could have made far more selling them online if he would have just taken a couple more days to do so.
4. Where to Sell?
If you are planning on selling your items personally, there are three great places to do so: Amazon, Ebay, and your local pawn shop.
Generally speaking, Amazon has higher fees than eBay for selling, but electronics usually sell more quickly on Amazon than they do on eBay. Amazon works via a “buy it now” platform, whereas eBay employs both “auction-style” bidding and “buy it now” options for online shoppers.
The pawn shop should be your last resort, as you will most likely not get optimal value for your old device. However, if you aren’t very internet savvy and you can’t find a local electronics store that will trade for/buy your device, a pawn shop will do the job.
5. Be Wary of Trade-in Deals
This applies especially to cell-phones. Companies that tout great trade-in deals but then charge prices that are higher than market price for their electronics are basically engaging in fraud, but this happens on a daily basis.
Always be aware of exactly what the market value of your device is, what the market value of a new device that you want is, and know exactly what you are willing to take in trade-in value if that is the route that you decide to take. Don’t settle for a penny less.
6. There Are Recycling Options
If you don’t really need the cash and don’t need any other new electronics, consider donating your old electronics to charity instead. Goodwill constantly makes use of old computers by using them to help Goodwill workers and others find full-time, self-sustaining jobs.
Also, there are many charities local to one’s area in America that, like Kids on Computers, work to make sure that every school and/or family has a computer with internet access so that kids can use them to learn.