eCycleBest.com, a green electronics buy back service, is now offering top dollar for used iPhones, beating offers by most major competitors, including WalMart and Best Buy, by $100 or more. The company is responding to the upcoming launch of the iPhone 5S and the iPhone Light. Both upgrades, scheduled for release in 2013, will be marketed as affordable alternatives to their upscale predecessors.
To make way for the new inventory, top electronics retailers are scrambling to exhaust their iPhone 4S and iPhone 5 stock, offering models at prices up to 70% less than before: for example, WalMart customers can get the iPhone 4S for as low as $30 and the iPhone 5 for $129, while Best Buy fans are locking in on a free iPhone 5 for an iPhone 4S trade-in, or a price cut of $50 on either the 4S or the 5. At first glance, these deals seem hard to beat that is, until you crunch the numbers.
While the prices are certainly appealing, there’s a catch each promotion comes with a required 2-year service contract commitment with a major US carrier which can run anywhere from $1,200 for an individual plan to $2,040 for a shared plan. And, in the case of Best Buy’s free iPhone 5 offer, the traded 4S has to be in good working condition, and the $150 payback is only issued in trade-in credit never cash. Added to these stipulations is the fact that when the new models arrive later this year, customers who were lured by these promotions will be limited for the next twenty four months by a dated phone with fewer features and diminished usability.
Dave Kruchin, the company’s founder and CEO, notes that because they specialize in iPhone buy backs, they can pass that on to their clients in cash value. “We are very much aware that the iPhone 4S holds more resale value than any of its closest non-Apple competitors,” says Kruchin. “In fact, Piper Jaffray came out with a very interesting report last May that identified a 7% loss in value for the iPhone 4S and an 11.2% decline in value for the iPhone 5 based on resale prices in the US.”
This translates into good news for the savvy consumer. eCycleBest offers as much as $259 for an iPhone 4S in good condition; $155 for one that doesn’t power on; $220 if it has a faulty battery; and $168 if the screen is damaged. And by paying via PayPal or check, the company gives their clients the freedom to spend their cash wherever they want.
Finally, there’s a “feel good” factor when dealing with eCycleBest, which, since its 2002 inception, has dedicated itself to keeping toxic e-waste out of U.S. landfills without contributing to the global e-waste crisis. It also stands by its commitment to ensure that all traded devices are processed and sold in the U.S. market as quality refurbished products and genuine repair/replacement parts.
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