Want the new iPhone 7? How to make the most money off of your old phone

(NBC News/Alyssa Newcomb) — Friday marks the first day to pre-order that sleek new iPhone 7 — so if Apple's latest offering caught your eye, but the price tag caught your breath... consider trading in your old phone to minimize — or even erase — the outlay for an upgrade.

There are a few options for trading in your old device to upgrade to an iPhone 7 or iPhone 7 Plus, even if your device is under two years old.

Apple's Trade-Up Program

Apple's trade-up program allows people to trade in the iPhone 4 or newer and some other smartphones in good condition. In exchange for their old smartphone, customers will receive a credit, which typically ranges from $25 to $250 depending on the model and its condition.

An iPhone 7 with 32 GB of storage is $649, but if a customer trades in a mint condition iPhone 6 Plus and gets a $250, that reduces the cost to $399. If a customer chooses a financing plan through their carrier, that spreads out the cost over 24 months, making the monthly payment for a new iPhone less than $17.

You can check if your device is eligible here.

Apple Renew

You can also mail Apple an eligible old smartphone or another device through the company's Renew program. Participants will receive a gift card to the Apple store in exchange for their old device if it qualifies for reuse.

After accepting a quote, customers will receive a shipping label and packaging in the mail for free. (Apple branded products with no value also qualify for free shipping labels.)

It's worth noting, however, that in-store and mail-in rewards may vary, so if you have a newer device in great condition, it may pay off to visit an Apple Store in person.

Read More: Should You Wait... for the iPhone 8?

Check With Your Carrier

The best deal may also come from asking your carrier.

T-Mobile announced a new promotion offering a free 32 GB iPhone 7 to customers who trade-in an iPhone 6 or newer. The savings are given to subscribers as $650 in statement credits over the course of 24 months. Want more space or the dual cameras in the iPhone 7 Plus? Just pay the difference.

Sprint is offering a similar deal, giving customers who trade in an iPhone 6 or newer a free 32 GB iPhone 7 if they sign up for one of the carrier's plans. Sprint is also offering the same deal to anyone who trades in a Samsung Galaxy S7 or S7 Edge.

AT&T is offering up to $650 in credits to new customers who trade in their old phone and buy a new one and plan through the provider.

New or existing DIRECTV or AT&T U-verse customers who add a new line from another carrier will also be eligible for a free iPhone 7, which will be reflected in $650 bill credits.

Verizon customers can trade in an iPhone 6 or newer for up to $650 credit, essentially giving them a new 32 GB iPhone 7 at no cost. The carrier is also accepting trade-ins of an iPhone 5, 5c, 5S or SE for up to $400 in credits. The iPhone 4 or some Android devices are eligible for up to $300 in credits.

Walmart

Walmart allows customers to trade in their old gadgets, including smartphones, in exchange for a gift card. Trade-in value depends on the model, storage capacity and carrier of the phone.

A 64 GB iPhone 6S Plus can be traded for a gift card ranging from $325 to $400 depending on the carrier.

Walmart accepts older devices, too, making it an ideal place for people who have held onto their phones for a while to make some money from a trade.

Trading in an older model, such as an 8GB iPhone 5C, will net a $25 credit. Some iPhone 4 models have even less trade-in value, making it worth holding onto your old device just in case you ever need a spare.

Get a quote on what your device is worth here.

Gazelle

The Gazelle website allows customers trading in a device to describe it as broken, good, or flawless. Trade-in value depends on the condition, model, storage capacity and carrier.

An 8GB iPhone 5c on Verizon and in good condition will net $30, while the same phone on T-Mobile isn't being offered for any value. A flawless 128 GB iPhone 6S Plus can be traded for up to $325.

Gazelle also offers value for some broken devices that are still able to be powered on, making it an ideal avenue for someone with the dreaded cracked screen who is looking to still make some money off their old device.

Check the value of your trade-in here.

Amazon

Amazon lets customers trade in their old devices in exchange for an Amazon gift card. An iPhone 6 can be traded in for $210 to $270 depending on the color, carrier, condition and storage capacity, according to quotes on the site.

An old iPhone 4S on Verizon can be traded for up to $24. Amazon is also offering more value on the iPhone 5, 5S and 5c, ranging from $10 to as much as $158.

Get a quote on your old gadgets here.

Nextworth

Nextworth allows customers to get a quote, ship their old gadget for free and get paid. Rewards for the iPhone start as low as $5 for an iPhone 4.

Like Gazelle, Nextworth will still pay for some devices with a cracked display, as long as they are able to be powered on. If you dropped your 64 GB iPhone 6S, Nextworth will still pay as much as $160.

Get a quote on your iPhone here.

Read the full story at NBCNews.com.

Copyright 2016 NBC News


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