Now Might Be the Best Time to Upgrade Your Apple iPhone

One website says resale values could plummet 30 percent by November. Find out why.

Now Might Be the Best Time to Upgrade Your Apple iPhone Photo (cc) by Janitors

If you’re itching to upgrade your iPhone, now is the time to trade in your current model, according to one gadget trade-in website.

Resale values likely will start dropping by about 10 percent in September and October, according to an analysis of eBay data by By November and December, values will drop by up to 30 percent.

Jeff Trachsel, NextWorth chief marketing officer, tells CNN Money that the company has seen this trend persist for the past four years.

The latest analysis includes every iPhone sold on eBay between July and December 2014, which Trachsel says covered hundreds of thousands of sales.

Apple generally releases new iPhone versions in September or October. So the supply of older iPhones grows “drastically” in the fall, which causes trade-in values to fall, CNN reports today.

A beta version of the upcoming operating system for iPhone and Apple’s other mobile devices, iOS 9, has already been released and can now be downloaded by the public, TechRadar reports.

The new operating system will feature improved Siri software and “improvements at the foundation of the operating system [will] enhance performance, battery life and security,” Apple states.

The manufacturer has yet to announce the release date for the full version of iOS 9. However, its website currently says it is “coming this fall.”

The new operating system is only available for the iPhone 4s and newer models, though, which is why owners of older models must upgrade their phones to experience iOS 9.

To get the best trade-in price, shop around. CNN reports that, in addition to websites like NextWorth and Gazelle, companies that allow iPhone trade-ins include national phone carriers, as well as retailers such as Apple, Best Buy, Target, Wal-Mart and Amazon.

For more, check out “7 Smart Ways to Save on the Latest Smartphones.”

Do you plan to trade-in your iPhone so you can take advantage of iOS 9? Share your thoughts below or on Facebook.

Karla Bowsher
Karla Bowsher
I’m a freelance journalist and former newspaper reporter who has covered both personal and public finance. I've worked for a top 50 major metro daily and a community newspaper as well as ... More


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