Today is the day that many iPhone owners the world over will decide whether or not to make the upgrade to one of Apple’s next-generation iPhones. This week, depending on availability dates for the new devices, will also see iPhone trade-in services experience a large number of customers taking the leap from simply locking in a quote to actually sending in their device to complete the trade-in. Walmart might be a little bit late to the game, but today the company announced its own smartphone trade-in program in the US offering up to $300 towards the purchase of a new smartphone. Unfortunately for Walmart, like Apple’s own retail store trade-in program, a lot of the smaller trade-in services continue offering better deals.
Walmart might be offering $300 for an iPhone 5 in good condition (around the same as the other guys) but there are still more than a few benefits of sticking with smaller third-party services, like Gazelle. The first reason is a price lock window. This is something Walmart and Apple don’t offer, but many smaller services will let users lock in a quote for up to 50 days in order to lock in the highest quote possible but wait until after Apple’s announcement to make a final decision. Walmart’s program is also only available through participating retail locations and doesn’t kick off until September 21. Unfortunately, by that time trade-in values on old iPhones could have dropped significantly lower than the roughly $300 they are fetching today. Lastly, Walmart (like Apple) will only give you credit towards a new smartphone through Walmart. Compare that to the cash or credit through a number of popular retailers offered through services like Gazelle.