Samsung Will Pay You To Upgrade Your Phone, But It's A Bad Deal

samsung galaxy s iii media hub store

Photo: Steve Kovach, Business Insider

Samsung is offering up to $300 cash for old handsets when customers upgrade to a Galaxy phone, reports UberGizmo.It’s a promo called Samsung Upgrade, and if you want to take advantage of it, go to Samsung’s Facebook page to see how much your old phone is worth towards a Galaxy.

Here’s the thing, though. You’ll probably only get $300 if you’re trading in a top of the line, relatively new smartphone. (We checked our 16GB iPhone 4, and the upgrade price was $165.)

As usual with these types of trade-in programs, you’re probably better off selling it on Craigslist or eBay where you can set the price and get a better deal. If you want convenience, Gazelle is another good option.

We just checked the price of a no-contract 8 GB iPhone 4 on AT&T. The price is $550. The going rate for the phone on Craigslist appears to be around $300. Selling our phone to Samsung for $165 makes no sense when we could get more money else where.

If you’re thinking about going this route, just know that you’re getting less money for more convenience.

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