Apple Users Urged: Trade In iPhones Before New Model Launch or Lose £100
Apple has released the new iPhone 16 today, signaling a potential £100 loss in value for current iPhone users. Studies show that older iPhone models drop by an average of 9% in value just after a new model is announced by Apple. Therefore, experts recommend trading in old iPhones before the launch of a new model to maximize returns.
Key points highlighted by Compare and Recycle:
- Historical data reveals that iPhones lose over 25% of their value as soon as they are unboxed, and up to 62% within the first year of ownership.
- iPhone 13, 14, and 15 series experienced drastic depreciation rates in their first year, with the iPhone 15 series losing over half of its value in 12 months.
- A new study suggests that iPhones lose more value in a year than a new car, with a depreciation rate of 15-35% for vehicles compared to over 60% for iPhones.
- Experts predict that certain iPhone 16 models could depreciate by at least 60% in the first year, based on the trends from the past three generations.
- Trade-in prices drop by 9% after Apple’s official announcement, followed by a further 20% decrease (equivalent to £100) after the release.
Compare and Recycle experts advise, “Trade-in prices are traditionally highest in August and early September, making it the ideal time to sell your iPhone before the new launch. If upgrading to iPhone 16 is on the cards, it’s best to act promptly. However, for those in no rush, iPhones stabilize in value during the second year after release.”
It is essential for Apple users to consider these depreciation trends and make informed decisions regarding their iPhone trade-ins to avoid substantial value losses.
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