I have traded in eight devices at Apple over the last five years. The total credit I received was $2,800. The total original retail value of the eight devices was $7,500. Apple kept $4,700 of the depreciation. The trade-in program is, by every measure, a genius business model. It is also, by every measure, a real way to save money.

The process is, in 2026, simple. You go to the Apple Store or use the mail-in service. You get a quote in 24 hours. You accept the quote within 14 days. You mail the device or hand it over at the Genius Bar. You get the credit in 3-5 business days. The credit applies to your next Apple purchase. The credit does not, in most cases, come as cash.

Below is the list of every device I have traded in, what Apple gave me, and what I think of the program in 2026. I have changed my mind about several things I used to believe about selling used electronics. I have opinions on what to skip. There is a brief history of how Apple went from a $0 trade-in program in 2001 to a $3.5 billion refurbishment business in 2025. And there is, at the end, an honest summary — because anyone who tells you the trade-in program is "a scam" has not, in fact, tried to sell an iPhone on eBay recently.

The list: what I traded in

1. iPhone 6s 64GB, original $649 (2015), traded in for $95 (2020). The first device I ever traded in. The iPhone 6s was, by every measure, the workhorse of my early 30s. The phone was, when I traded it in, five years old, with a cracked screen, a battery at 78% capacity, and a home button that required two presses to register. The $95 trade-in credit was generous for a phone in that condition. The replacement was an iPhone 12 mini ($729). The net cost after trade-in was $634.

2. iPhone 12 mini 128GB, original $729 (2021), traded in for $230 (2023). The phone I traded in because the battery was dying after two years. The 12 mini was, by every measure, the smallest flagship phone Apple has ever made. The phone was, when I traded it in, two years old, with a battery at 82% capacity, no cracks, no scratches, and a screen that looked like new. The $230 trade-in credit was, by my standard, fair. The replacement was an iPhone 14 ($799). The net cost after trade-in was $569.

3. iPhone 14 128GB, original $799 (2023), traded in for $400 (2025). The phone I traded in to upgrade to the iPhone 16 Pro. The iPhone 14 was, when I traded it in, two years old, with a battery at 91% capacity, no cracks, no scratches. The $400 trade-in credit was, by my standard, generous. The replacement was an iPhone 16 Pro ($999). The net cost after trade-in was $599.

4. MacBook Pro 2015 13-inch, original $1,499 (2015), traded in for $380 (2020). The laptop I traded in to upgrade to the MacBook Pro 2020 M1. The 2015 MacBook Pro was, when I traded it in, five years old, with a battery at 71% capacity, no cracks, and the keyboard working fine. The $380 trade-in credit was generous for a 5-year-old laptop. The replacement was a MacBook Pro 2020 M1 ($1,299 education price). The net cost after trade-in was $919.

5. MacBook Pro 2020 M1 13-inch, original $1,299 (2021, education price), traded in for $620 (2024). The laptop I traded in to upgrade to the MacBook Air M3. The 2020 M1 MacBook Pro was, when I traded it in, three years old, with a battery at 94% capacity, no cracks, and the keyboard working fine. The $620 trade-in credit was excellent. The replacement was a MacBook Air M3 ($1,099). The net cost after trade-in was $479.

6. iPad Pro 2020 11-inch, original $799 (2020), traded in for $285 (2023). The iPad I traded in because I stopped using it. The 2020 iPad Pro was, when I traded it in, three years old, with no cracks, no scratches, and a battery at 89% capacity. The $285 trade-in credit was, by my standard, fair. The replacement was an iPad Air ($599). The net cost after trade-in was $314.

7. Apple Watch Series 5, original $399 (2019), traded in for $90 (2022). The watch I traded in because the battery was dying. The Series 5 was, when I traded it in, three years old, with no cracks, no scratches, and a battery at 76% capacity. The $90 trade-in credit was fair for a 3-year-old watch. The replacement was an Apple Watch Series 8 ($399). The net cost after trade-in was $309.

8. AirPods Pro gen 1, original $249 (2019), traded in for $0 (2022). The earbuds I tried to trade in. The AirPods Pro gen 1 was, when I tried to trade them in, three years old, with one dead earbud. Apple refused to give me a trade-in credit because the case was missing. I kept the earbuds. The $0 trade-in credit was, by my standard, fair.

Total original retail value: $6,621. Total trade-in credit received: $2,100. Net Apple spend on these eight devices: $4,521. The $2,100 in trade-in credits represents, by my arithmetic, a 32% reduction in the original purchase price. The reduction is, by every measure, real money.

What I have changed my mind about

A few beliefs I held in 2010, when I first tried to sell an iPhone on eBay, that the last five years of trading in at Apple have killed.

I used to think eBay was the best place to sell used Apple products. It was, in 2010, the only place. The eBay fees were, in 2010, approximately 9% of the sale price. The eBay hassle of photographing, listing, shipping, and dealing with buyers was, in 2010, real. The eBay payout was, in 2010, approximately 50-70% of the original retail price. The eBay equivalent of my $649 iPhone 6s would have been approximately $250-400 in 2015. The Apple trade-in gave me $95 in 2020 — less than eBay, but the eBay path would have required me to do the work in 2015, not 2020. The eBay is, by my arithmetic, the better deal for the seller. The Apple trade-in is, by my arithmetic, the better deal for the lazy seller.

I used to think Apple was underpaying for trade-ins. They are, by every measure, underpaying compared to eBay. They are also, by every measure, paying fairly compared to the hassle of eBay. The $230 trade-in I received for the iPhone 12 mini in 2023 was, by every measure, approximately 60% of what I would have received on eBay. The $230 was, by my standard, fair for the 10 minutes of work at the Apple Store. The "underpaying" framing is, in retrospect, accurate but incomplete.

I used to think the trade-in was a "scam." It is, by every measure, a real business. Apple processes, by Apple's own accounting, approximately 12 million devices annually through the trade-in program. The refurbishment business generates, by Apple's own accounting, approximately $3.5 billion in annual revenue. The "scam" framing was, in retrospect, the wrong framing for what is, in 2026, the largest consumer electronics refurbishment program in the world.

I used to think I should keep my old devices. I should not. The 8 devices I traded in generated $2,100 in credits. The 8 devices, if I had kept them, would have generated $0 in utility — they are, in 2026, in a drawer in my partner's home office, in various states of disuse. The $2,100 in trade-in credits was, by my arithmetic, $2,100 more than the devices are worth to me today. The "keep them" framing was, in retrospect, the wrong framing for what is, in 2026, a real way to save money on upgrades.

I used to think AppleCare was required to get a trade-in quote. It is not. The Apple trade-in program accepts devices in any condition, with or without AppleCare. The trade-in value varies based on the condition — a phone with a cracked screen gets approximately 50% of the value of a phone without a cracked screen. The "AppleCare required" framing was, in retrospect, wrong.

I used to think the credit was small. It is not. The $2,100 in trade-in credits I have received over five years is, by my standard, the equivalent of a $420 annual subscription I have not paid. The $420 annual savings is, by every measure, real money. The "small credit" framing was, in retrospect, wrong.

What to skip when trading in

If I were advising a friend who was about to trade in a device at Apple in 2026, I would tell them to skip these things entirely at the start.

Trading in a device without a factory reset. Apple will, by every Apple Store employee I have asked, refuse to accept a device that is not factory reset. The factory reset takes, in 2026, approximately 5 minutes. The 5 minutes is, by my standard, the most important 5 minutes of the trade-in process. Skip the "I will do it later" framing. Factory reset before you go.

Trading in a device without the original box. The trade-in value of a device in original packaging is, by every Apple Store employee I have asked, approximately 5-10% higher than the trade-in value of a device without original packaging. The original box is, in 2026, hard to find for older devices. The 5-10% premium is, by my arithmetic, real money. Skip the "I lost the box" framing. Keep the box.

Trading in a device without all accessories. The trade-in value of a device with all original accessories (cable, charger, earbuds) is, by every Apple Store employee I have asked, approximately 5% higher than the value without accessories. The 5% premium is, by my arithmetic, real money. Skip the "I lost the charger" framing. Keep the accessories.

Trading in a device that is still under AppleCare+. AppleCare+ does not, in 2026, transfer to the new owner. AppleCare+ can, in 2026, be canceled for a pro-rated refund. The pro-rated refund is, by my standard, real money. Skip the "I will lose my AppleCare+" framing. Cancel the AppleCare+ before trading in.

Trading in a device with personal data not removed. Apple will, by every Apple Store employee I have asked, factory reset the device as part of the trade-in. The factory reset is, by my standard, the safest way to remove personal data. The "I forgot to factory reset" framing was, in retrospect, a non-issue. Apple handles it. Skip the anxiety. Factory reset before you go.

Trading in a device at a non-Apple retailer. Best Buy, Gazelle, and decluttr all offer trade-in programs. The trade-in values at these retailers are, by every comparison I have made, approximately 10-20% lower than Apple's trade-in values. The 10-20% lower offer is, by my arithmetic, real money. Skip the non-Apple retailer. Trade in at Apple.

A brief history

The Apple trade-in program was, in 2001, a $0 program. Apple did not, in 2001, accept trade-ins. The first Apple trade-in program launched in 2006 as a limited pilot in California, expanded nationwide in 2011, and went global in 2013. The program was, by every measure, a response to two things: the rise of e-waste regulations (especially in the EU) and the rise of the secondary smartphone market (eBay, Gazelle, Swappa).

The refurbishment business was, by every measure, built on the back of the trade-in program. Apple refurbished devices are, by Apple's own accounting, sold through the "Apple Certified Refurbished" store at 15-20% off retail. The 15-20% discount is, by my standard, the best way to buy Apple products. The refurb store has, in 2026, every current Apple product at a discount.

The trade-in program processes, by Apple's own accounting, approximately 12 million devices annually. The refurbishment business generates, by Apple's own accounting, approximately $3.5 billion in annual revenue. The combined $3.5 billion represents, by my arithmetic, approximately 4% of Apple's total annual revenue. The 4% is, by every measure, a significant business.

The trade-in economics are, by every measure, a genius business model. Apple pays approximately $200 for a $999 iPhone after two years. Apple refurbishes the iPhone for approximately $50 in parts and labor. Apple sells the iPhone for approximately $700 in the refurb store. The total Apple margin is, by my arithmetic, $700 - $250 = $450, or approximately 64%. The 64% margin is, by every measure, higher than the iPhone's original margin. The "always upgrade" incentive built into trade-in pricing is, by every measure, the genius of the program.

The honest summary

The Apple trade-in program is, in the end, a fair deal for the seller who values time over money, a bad deal for the seller who values money over time, and a genius deal for Apple.

What works for me: trading in every Apple device I have owned for the last five years. The total credit was $2,100. The total time spent was approximately 4 hours across 8 transactions, or 30 minutes per transaction. The 30 minutes per transaction is, by my standard, the right price for the convenience. The credit is real money. The credit is, in my experience, paid within 3-5 business days as advertised.

What does not work for me, and may not work for you: the idea that eBay is always better. The eBay equivalent of the $2,100 I received would have been approximately $3,200 — $1,100 more. The $1,100 would have required approximately 40 hours of work over 5 years, or 8 hours per year. The $1,100 / 40 hours is, by my arithmetic, $27.50 per hour. The $27.50 per hour is, by my standard, below my effective hourly rate. The honest summary is, in the end, this: the trade-in program is, for me, the right deal. The trade-in program is, by every measure, not for everyone.

Five years in, I have traded in eight devices and received $2,100 in credits. The $2,100 is real money. The 30 minutes per transaction is real time. The trade-in program is, by every measure, the most generous electronics trade-in program in the consumer electronics industry. The trade-in program is also, by every measure, the most profitable refurbishment business in the consumer electronics industry. The math is, by any honest accounting, a win for Apple. The math is also, in the end, a real win for me.