How and where to trade in your old iPhone for the most cash or store credit

There are many companies offering to let you trade in your old iPhone for credit toward a new one, but which is best? AppleInsider has surveyed the top options to help you make your decision. Be sure to also check out AppleInsider's trade-in guide for information on swapping your other iOS devices.

In-store: Apple, Best Buy, Walmart

Apple, Best Buy, and Walmart share similar in-store trade-in options: customers can walk into the store with their old iPhone and walk out with a new iPhone 5s or 5c in a single transaction. Store employees will assess your trade-in and provide a quote; if you accept, they will sell you a new, on-contract iPhone on the spot and apply the trade-in value toward your purchase. Apple is reportedly offering less in return for your trade than the others, though AppleInsider has been unable to confirm the amount.

Mail-in for cash: Gazelle, NextWorth, USell

These online-only players will ask you to provide a general description of your iPhone's condition, then give you an instant quote. If you accept the price, the service will send you a prepaid shipping container — usually a small box or envelope — that you'll use to send in your device. Once the handset has been inspected, you can receive your money in as little as five days.

Gazelle offers the most cash for the iPhone 4 and iPhone 5, while NextWorth wins the battle with the iPhone 4S. uSell, meanwhile, offers $115 for an iPhone 4, $205 for a 4S, and $336 for an iPhone 5.

Mail-in for credit: Amazon, Best Buy, Wal-Mart

These services work much the same way as their mail-in for cash competitors, but because they offer in-store credit rather than cash, trade-in valuations tend to be higher. Amazon, for example, will give you $441.00 for a flawless white 64GB iPhone 5, while the best quote from cash competitors is Gazelle's $340.00, a full $101.00 lower.