Got an old phone collecting dust in your junk drawer? It could still be worth real money — and Best Buy's trade-in program makes it surprisingly easy to cash in.

Instead of letting your outdated tech depreciate into paperweights, you can turn them into gift cards that'll knock dollars off your next upgrade. Before you start shopping for that shiny new device, check Groupon's latest Best Buy discount codes to stack even more savings on top of your trade-in value.

How Best Buy's Trade-In Program Works

Best Buy accepts a solid range of electronics for trade-in: cell phones, tablets, laptops, and gaming consoles all qualify. You'll get a Best Buy e-gift card in return, which works just like cash at checkout.

The whole thing runs on a straightforward formula. They look at your device's age, condition, what accessories you've got, and current resale value to determine what it's worth.

What Devices Qualify — and Which Don't

The sweet spot for trade-ins includes smartphones (even older iPhones and Android devices), tablets, laptops, and gaming consoles. Gaming systems tend to hold their value particularly well, especially if you've got all the original controllers and cables.

Not everything makes the cut though — really old devices or those with significant damage might not qualify.

Online vs. In-Store Trade-Ins: Where You'll Get More Value

Here's where strategy comes in. In-store trade-ins give you instant credit you can use right away, which is perfect if you're buying something that day.

Online trade-ins require shipping your device for inspection, but they often provide more accurate valuations since there's less pressure to estimate quickly.

Getting Your Device Ready for Trade-In

Preparation can seriously boost your payout. Think of it like selling a car — the cleaner and more complete it looks, the better your return.

Wipe Your Data First

Before anything else, back up your data and perform a complete factory reset. This isn't just about privacy (though that's crucial) — devices that aren't properly wiped can get rejected entirely.

For phones, sign out of iCloud or Google accounts first, then reset. For laptops, make sure you've deactivated any software licenses.

Include Accessories to Boost Your Payout

Here's a money tip most people miss: include every working accessory you can find. Original chargers, cases, controllers, and cables can bump up your trade-in value significantly.

That old phone charger sitting in your car? It's worth more attached to your trade-in than sitting unused.

Ways to Maximize Your Trade-In Value

Timing and membership perks can make a real difference in what you walk away with. These trade-in savings strategies help you squeeze every possible dollar from your old tech.

My Best Buy Membership: The 10% Bonus Explained

My Best Buy Plus and Total members can get an extra 10% on trade-ins of qualifying Apple products. If you're trading in an iPhone, iPad, or MacBook, that membership can literally pay for itself with one transaction.

That 10% bump really adds up on higher-value devices.

When to Stack Trade-Ins vs. Sell Separately

You can trade in up to three of the same type of device per day, but sometimes it's smarter to space them out. If there's a promotion running, you might want to maximize each device's promotional value rather than bundling everything together.

Check our price matching guide to see how trade-ins work with other savings strategies.

What to Expect During the Trade-In Process

The actual process is refreshingly straightforward once you know the steps.

Using the Online Calculator

Start with Best Buy's trade-in calculator to get a ballpark estimate. Be honest about condition — "good" means normal wear, while "excellent" means it looks almost new.

The calculator gives you 14 days to ship your device once you accept the estimate.

Shipping Your Device Safely

Best Buy provides a prepaid shipping label, but pack your device like it's made of glass. Use bubble wrap, remove any SIM cards, and include a printed copy of your trade-in confirmation.

Take photos before you ship in case there are any disputes about condition.

Looking for more ways to save on your next purchase? Check out these open box deals that pair perfectly with trade-in gift cards.

Common Mistakes That Cost You Money

Why You Shouldn't Skip the Accessories

Missing accessories can cut your trade-in value by 20% or more. If you can't find the original charger, buying a replacement might still net you more money than trading in without it.

Trade-In Limits You Need to Know

The program is designed for personal use, with a three-device limit per day for the same product type. Also, remember that if you return a new purchase made with trade-in credit, you won't get your original device back — you'll get store credit instead.