Finding the Best Deal for Your Old iPhone

With Apple releasing a new version of its popular smartphone, some users are looking to trade in their current hardware.
2:28 | 09/16/14

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Transcript for Finding the Best Deal for Your Old iPhone
with the apple's new iPhone. The company got 4 million preorders in 24 hours. And doubles the previous record. In looking to trade in their old phones and gio Benitez tells us how to get the best deals. Reporter: This morning, with the new iPhones breaking the preorder records, the mad rush to sell the old phone is on. Some say I don't have the money for the new phone, you can get it. When you have the iPhone, resale, use that money to invest in your new phone. Reporter: Dan Acker man is at net and shows what some websites are willing to pay you. Powers up, but thens are good. Reporter: As an example, he gets quotes for 16 gigabyte phones in good condition. Gazel gazelle.com, $250, Amazon, as much as $283. But in the form of an Amazon gift card. And the highest offer comes from apple itself. Their recycling program offering up to $310 as an apple gift card. You get the money pretty much all the way. They handle the billing and ship. I think that convenience is worth it. Reporter: What should you look out for when trying to sell your cell? Put it on craigslist or Ebay, dealing with directly with the buyers. There's a chance of fraud. Reporter: Craigslist provides tips to users, including that you should meet the buyer in a public place in person. And Ebay saying nothing is more important than providing a safe, secure, shopping experience. And that it offers its users a money-back guarantee and stands behind every transaction. Don't take too long to sell, two weeks after the new phone launches, the old one loses 11% in value. And by the way, most of the websites also let you sell other smartphones like android devices. But before you sell anything, and this is important, make sure you wipe all of the data off the phone so the new buyer doesn't have your info. You can find that right in phone settings. That is very, very good advice. Thank you so much.

This transcript has been automatically generated and may not be 100% accurate.

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