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In the age of technology, it is no secret that many people have invested in personal devices such as laptops and tablets.
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People who may have an extra appliance or two lying around may be wondering if they can quickly liquidate these small possessions, which can sometimes have an immediate resale or trade-in value of hundreds of dollars.
Financial content creator Ravi Wadan (@raviwadan on TikTok) shares a way consumers can get more value from devices they no longer use through a trade-in program available through Costco.
Trade in old appliances for Costco gift cards
In a video that has been viewed more than 417,000 times on TikTok, Wadan shows how someone who wants to sell an iPhone they no longer use can trade it in at retailers like Costco for a gift card.
@raviwadan Great Costco Tip: Turn your old phones, tablets, laptops and smartwatches into a Costco gift card! #costcodeals #costco #costcofind #costcodedoesitaagain #moneymakingideas #moneysavingtips ♬ original sound – Ravi Wadan (Financial Education)
“A lot of people don’t know this, but at Costco.com you can actually trade in your old laptop, tablet, phone or even your old smartwatch and get a Costco gift card in return,” he says in the video.
‘Let me explain. So I’m on Costco’s website and they have a trade-in program powered by Phobio,” says Wadan. “And all you have to do is scroll down, click ‘Start your trade-in’, click ‘Visit external link’ and you will be taken to this page. And all you have to do is enter your device information.”
The example he gives is a newer iPhone that is only a few years old – a very likely scenario for those looking for updated and improved technology.
“For example, let’s say I have a 128GB iPhone 14 Pro Max on T-Mobile,” he says.
The website shows that Wadan would receive a Costco gift card of up to $460 if the phone meets their requirements.
“And the requirements are simple,” he explains. “As long as your device is turned on, functioning properly and in good physical condition, you can get the $460 as a Costco gift card. So if you have extra laptops, tablets, smartphones or smartwatches lying around, the trade-in program on Costco.com, powered by Phobio, is definitely something to consider.”
The Daily Dot contacted Wadan via email about the video.
Are there better offers?
Depending on the condition of your device, how old it is, or even what you want to get out of a trade-in, there may be a program that can better meet your needs.
For example, if you simply want to upgrade your phone, many mobile carriers offer one trade-in agreement for a variety of smartphones, which could give you a lower total monthly payment than if you simply added the new phone to your plan without a trade-in.
Major retailers like Apple, AmazonAnd Best buy also offer similar programs, some leading to a cash or gift card credit, or a credit toward the purchase of a new device.
What it comes down to is the type of results you are looking for when trading a device.
Viewers weigh in
Several viewers said they had tried using such programs in the past, with varying degrees of success.
“Best Buy may pay more,” one commenter wrote. “I checked and got $200 at Best Buy and Costco is only $145.”
“I usually trade up with Samsung Canada,” another suggested. “They also do promo trading on broken devices and get a lot of value for it. if anyone wants to buy Samsung stuff.
“You have to send in your devices and wait three to five business days to even get approved or if they want it,” one commenter wrote.
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