Apple Inc. is expected to unveil the latest iPhone on September 9. If you’re the type to line up outside Apple Stores on launch day, you may be wondering how to get the best trade-in value for your old iPhone. Read on, my friend.

According to reports, the resale price of old iPhones is steadily falling, declining to up to 20 percent a month before a new iPhone is revealed. Models that cannot run iOS 8 will be worth even less in the resale market, but that doesn’t mean older handsets are completely worthless. EcoATM Chief Marketing Officer Mark Bowles believes that there’s still a market for these ancient phones.

“There are iPhone enthusiasts in the Bay Area who would never be caught dead with a last-generation iPhone,” Bowles said. “Most of the world is not like that.”

Gazelle Inc., Wal-Mart Stores Inc., GameStop Corp., Amazon.com Inc., and uSell.com Inc. are just some of the places where you can trade your iPhone for cash. Depending on the model, carrier contract, and the condition of your device, your iPhone could be worth as much as $300. If you want to find out more about where to get the best trade-in price for your old iPhone, check out our earlier coverage here.

Instant cash

The only problem in dealing with some of the mentioned companies is that you either have to wait for your check in the mail or you get store credits, not actual cash, in exchange for your old device. If you want cold, hard cash you might want to consider using one of the many ecoATMs by Outerwall Inc. These machines are very easy to use; just place your old iPhone or any device you want to trade in for cash in the test station where it will be appraised and dispense cash immediately. At the moment, ecoATM prices a 16GB iPhone 5s without a carrier contract somewhere between $31 to $130. Yes, it offers a lower value compared to other trade-in services, but that’s the price of instant gratification.

Now, you can use that money to get the new iPhone which will probably go for $199 with a 2-year carrier contract.

If you don’t need to sell off the old phone to cover the cost of the new iPhone, there’s always the option of utilizing carrier networks’ upgrade programs. AT&T Corp., T-Mobile US Inc., and Verizon Communications Inc. all offer an affordable way to get the latest iPhone, with different payment options based on their contract offerings. Details below.

Carrier packages for new devices

T-Mobile JUMP!

JUMP! lets you to upgrade to a new smartphone when you want to, not when their 2-year contract ends. It’s a nice combination to T-Mobile’s equipment installment plan, which allows you to get the device they want without paying too much for the device and data plans. All you have to do is enroll in JUMP! for an additional $10 a month so you can upgrade your eligible device when you want to. Learn more about JUMP! here.

AT&T Next

Next is AT&T’s installment offering that allows you to divide the cost of the device of your choice for 12 or 18 months. After the said period, you can upgrade your device, provided it is in good, working condition, and start a new installment plan for the device of your choice. The other option is to wait 20-24 months and the device is yours to keep since you’ve paid it off. Learn more about Next here.

Verizon Edge

Verizon offers the freedom to upgrade to a new device in just 30 days after you purchased your old one, but on two conditions: your old device is in good, working condition and 60 percent of the price of your old device has already been paid off. But if you’re not in such a hurry, Edge is a convenient way to get your hands on the latest smartphone or tablet. The price of the device is divided into 20 monthly installments, and as stated earlier, if you paid 60 percent or more of the cost of your device, you have the freedom to upgrade to a new smartphone or tablet. Learn more about Edge here.

Sprint

For those on Sprint Corp., unfortunately, its installment plan One Up was discontinued last January, four months after it launched, in favor of a new Framily Plan that extends affordable packages to non-family members.

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