With the impending release of the Galaxy S4, consumers want to know how to navigate the trade-in market and when to sell their device to get the highest price possible. Based on predictive data tested against years of device re-selling and trade-in programs, we’ve created the following infographic sharing the best strategies for maximizing device resale value, and why YOU need to lock in your trade now – before the device releases and everyone else gets the same idea.
Posts tagged ‘Samsung Galaxy s3 trade-in’
How many times have you heard someone say, “I can’t stand (insert carrier name here!)? Their service is horrible and they won’t do anything about my dropped calls, bad phone, wrong bill, etc.” Carriers need to take heed and step up their customer service game. Trade-In is a customer’s hammer and they are starting to use it. As a carrier, you subsidized an expensive phone down to an accessible cost for that customer, and they are about to use that subsidy against you if you don’t find a way to take care of them.
Take a current example:
A customer purchased an iPhone 4S 64GB phone from a carrier and paid $399.00 for it. They have been on the network for a year, are not happy, and have threatened to leave. The carrier tells the customer they can leave, but they are responsible for the early termination fee which has a balance of $175.00. On our partner sites the Trade-In value of that phone is up to $305 dollars today, October 5 2012, which allows the customer to buy the new iPhone 5 device for $399, pay the early termination fee of $175, and have a net cost after trade of about $269 before taxes. For many consumers that discounted price for the latest iPhone technology is well worth it.
Let’s face it, most companies don’t want a customer to leave for any reason and they should do everything in their power to nail customer service. However, with Trade-In as an option, if they don’t nail it, consumers have a hammer that can’t be ignored.
With the latest news that the new version of Apples iPhone, the iPhone 5, is pending release on the 21st, the buzz is at a deafening roar around trading up to get the device. There are many articles being written with sensational headlines proclaiming things like; “Get as much as $500 for your used iPhone!”, “We pay the highest prices!”, etc. That all sounds very good as a consumer since you may have only paid $399 for that iPhone 4S 64GB phone, but is there anything else to consider? There certainly is, and we could learn a lot If a trade-in could talk.
If a Trade-in could talk it would be able to tell you all the things you would want to know about where your device is headed when you agree to that trade. There are multiple areas to consider before releasing your device, including but not limited to:
1. Payment- Will I actually get the money I was quoted? What happens if they say my device doesn’t meet their conditions?
2. Security- What is the data clearing process? Can I trust them? What is the physical security of their site? Any chance my device could be lost or stolen before the data is cleared?
3. Environment- If my device is being recycled, will they do it right and not put it in a landfill or send it offshore?
At CExchange, we believe consumers should ask these questions, and they should be educated on the potential pitfalls associated with accepting an artificially high offer from a company that doesn’t have processes in place to protect your money, your data, and our environment.
Regarding the evaluation and payment questions, it is important to provide a great customer experience which is why we use simple two condition pricing. We don’t believe in disappointing people by using an inflated price for what might actually be 1% of the product trades, and then have to tell the balance of customers that they will get less money. And, with our partners, if for some reason your evaluation turns out to be different, we will ship the product back to you on our dime if that is what you choose. And with our retail store partners, you generally get your credit immediately in the store which facilitates a new product purchase on the spot.
On data and physical security- We do a complete data wipe with two levels of quality control on every working device, and protect all those that aren’t working until final disposition. We are an ISO9001 certified facility and have strict quality processes in place in addition to 24 hour security seven days a week and multiple layers of physical security and screenings to protect your product. We also employ HD video recording equipment to verify all the contents of packages we receive and to digitally validate the safe arrival and disposition of your transaction from our partner companies.
On the recycling point, we are environmentally aware and concerned. We only use e-Steward recyclers to recycle our product. You can be assured that if we send your device for recycling, it will not end up in a landfill, or offshore. It will be responsibly recycled according to the rigid standards of the e-Steward mandate.
So, if a Trade-in could talk, and it made it’s way through a CExchange partner company, it would say some very nice things. Ask these same questions and see what you hear before making that trade.