When people upgrade to a new iPhone, they’ll either hang onto their previous iPhone indefinitely and let it collect dust or they’ll throw it onto an online listing like eBay or Craigslist. However, that’s a fast way to get the worst possible price. To get what your phone is actually worth, you’re better off taking it to your local Westminster pawn shop where you can use it for collateral on a cash loan.
Why Pawn Shops Accept Old Phones
Taking your old iPhone to a pawn shop saves you a lot of money because there are no listing or transaction fees and you don’t have to pay for shipping and handling, not to mention the possibility of the phone becoming damaged during transit. There’s also no need to share your bank account or credit score information when taking out a pawn loan using your iPhone as collateral. You simply bring it in, settle on a price, and accept the loan terms. But in case the loan falls through whether you choose to let go of your phone or you can no longer make the payments, who would actually want to end up with an old and used iPhone?
A Market For Used Phones
You’d be surprised to learn that there are some individuals who would rather not jump on the new phone hype. With a new iPhone model being released nearly every year and with prices steadily increasing, there are a number of reasons why someone would rather shop for a cheaper used phone. Some people prefer the style and functionality of older iPhone models while other people simply can’t fit a brand new $1,000+ iPhone into their current budget. Whatever the reason, there is definitely a market for your old phone.
What Is My iPhone Worth?
So now you know that your old iPhone is worth something to somebody, but how much? It’s always a good idea to look up a rough estimate on your iPhone before bringing it to a local Westminster pawn shop so you have a base price to go by during the negotiation process, but how exactly do you find that out? First, you must identify the main factors that put a value on your phone:
- The exact model
- The year it was produced
- The amount of memory storage
- Whether the data was wiped out or not
- The overall cleanliness of the device
Apple products tend to hold their worth or decline at a slow rate despite there being a new model almost every year. Because of this, you are sure to get something worthwhile as long as your phone is in a decent enough condition to be desirable to somebody.
| iPhone Model | Rough Price Est. |
| 8 – 64GB / 128GB / 256GB | $130 / $195 / $220 |
| XS – 64GB / 256GB / 512GB | $157 / $222 / $515 |
| 11 – 64GB / 128GB / 256GB | $183 / $262 / $300 |
As you can see, there’s a pattern between the model year and the amount of storage when pricing an iPhone. The difference between a 64GB phone and a 128GB one is almost a hundred dollars. But of course, the condition of your particular phone also plays a huge role in the final price. Another thing to consider is that since a new variation comes out pretty often, each older model will be worth even less than it did before. So if you’re going to pawn your iPhone, it’s better to do it sooner than later.
Getting the Most Out of Your iPhone
Boosting the price of your iPhone is as easy as performing minimal maintenance beforehand. And when we say clean your phone, we mean both inside and out. Wiping down the exterior definitely helps, but what you do behind the screen can save your buyer time and time is money. Be sure to check for these things before bringing your iPhone to a pawn shop near you:
- Disable the “Find my iPhone” or “Find my device” settings
- Unpair any external devices like wireless headphones or earbuds
- Delete any personal or sensitive data
- Clear out your iPhone’s entire memory bank
- Unlock your phone through your service provider
As an added bonus, it helps to bring your old iPhone in the box that it originally came in if you still have it around the house. The more “brand new” your phone looks, the more appealing it will be to the buyer. Seeing the amount of care you put into keeping your device in good shape lets the buyer know that they’re receiving a dependable item.
It also pays to keep in mind that no matter how you handle your iPhone, it won’t matter unless you take it to the right pawn shop. Not all pawn shops in Westminster are the same, so you should take the time to make sure that the establishment you want to visit is a trustworthy and reliable one. Many shops will offer you a low price to increase their own personal profits, but other shops like Westminster Mega Pawn are dedicated to giving you a truly fair and authentic experience with all of your dealings so you can feel confident coming back for more.
Westminster Mega Pawn Accepts iPhones!
At Westminster Mega Pawn, you can easily use your old iPhone as collateral for a cash loan. The flexible loan terms are objectively fair for customer satisfaction and all collateral items are kept completely safe until the loan term is over. 4 months is standard for the average loan, but extensions are a possibility under the right circumstances so you can continue using Westminster Mega Pawn’s loan services with ease. These are just a few of the many reasons why this particular pawn shop is a favorite among the Westminster community! Call anytime at (714) 893-0555 for more information.