Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
Should I Trade in My Old Phone or Buy One Through eBay?
Wolfgang from Florida asks: "I have T-Mobile and want to upgrade from the Samsung Galaxy S7 to the S10 or S20, but they don't offer the S10 or S20 on the trade-in. Would it be best for me to just buy an S10 or S20 on eBay and just keep the S7 as a backup phone if needed?
“I have had good luck with buying phones on eBay for a fraction of the price. So I’m just wondering if I should do that without being able to take advantage of the trade-in.”
Clark’s Take on Whether To Trade In Your Old Phone or Buy One Through eBay
Clark says: The listener has the right idea by looking for a cell phone that's not the latest model, as that can be a good way to save money.
The latest Samsung S21 models run from $799 to $1,199 on Samsung.com, but a recent search on eBay found some S20 models for a little more than $500.
What To Know Before You Buy From eBay
Before you buy from a third party on eBay, make sure you do some research on potential sellers by checking out their profile and product pages. Here are a few things to look for:
- A high feedback score: A yellow star means that the seller has at least 10 positive feedback ratings. Learn more here.
- Negative comments: Read any unfavorable remarks about the seller; reviews can warn you of potential problems with that vendor's products or customer service.
- Refund policy: If you choose to buy from a third-party seller, be aware of the refund policy and any warranty information.
eBay has a Certified Re-Newed program that ensures that the pre-owned phones you buy will work like new. Here's what to know before you buy a refurbished phone.
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More Resources From Clark.com:
- The Best Places To Sell Your Cell Phone
- iPhone vs. Samsung: Which Holds Its Value Better?
- 20 Ways To Donate Old Cell Phones
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