Trade-in time: Gazelle offering 45-day grace period, up to $360 for used iPhones ahead of iPhone 7

By Christine McKee

In anticipation of Apple's iPhone 7 launch on Sept. 7th, Gazelle this week is offering up to $360 in cash for used iPhone trade-ins with an extended 45-day price lock that lets you hang on to those devices until Oct. 14th.

Lock in a price for your iPhone trade-in now and send it in by Oct. 14

With iPhone trade-in values expected to drop 20%-50% once a new model is released, now is the time to lock in a cash payout offer in the days leading up to the anticipated iPhone 7 launch. Now through Sept. 7, Gazelle is letting customers lock in trade values now while holding on to the devices until Oct. 14 (all used cell phones qualify for the promotion). Plus, you'll get a $20 credit that can be used on Gazelle store purchase of $30 or more when you trade in a device.

How big of a cash payout will I get for my Apple trade-in?

Lock in a price now for your iPhone and keep the device until Oct. 14.

As of press time, Gazelle was paying $310 for a 64GB iPhone 6s Plus (Verizon), $225 for a 64GB iPhone 6 Plus (Verizon), $195 for a 64GB iPhone 6 (AT&T), and $90 for a 64GB iPhone 5s model (AT&T) in "Good" condition. Unlocked iPhones, those in flawless condition, or models with a higher capacity often pay out a bit more, while those with less storage or broken parts typically pay out the least. You can see Gazelle's current payout rates below and on Gazelle's site.

iPhone trade-in values

Apple iPhone 6s Plus: Up to $360.00 *

Apple iPhone 6s: Up to $350.00 *

Apple iPhone 6 Plus: Up to $255.00 *

Apple iPhone 6: Up to $230.00 *

Apple iPhone SE: Up to $265.00 *

Apple iPhone 5s: Up to $100.00 *

Apple iPhone 5c: Up to $35.00*

* Trade-in values displayed are in the form of a cash payout via check, Paypal deposit or Amazon.com gift card.

Similar trade-in offers from earlier this week ahead of the anticipated iPhone 7

The week has also seen similar offers ahead of Apple's "See you on the 7th" event. Cash payouts for used iPhones may be higher for certain models with bonus coupons, but the price lock period is typically shorter than Gazelle's current offer (lock in a price by Sept. 7 and ship the device by Oct. 14). Depending on when new models ship, you may have to part with your device prior to receiving a next-gen iPhone.

How to trade in your iPhone for cash in minutes

Step 1:

To begin the process, identify your current iPhone from Gazelle's website (by selecting your model, carrier and capacity) and then quickly assess its condition -- broken, good, or flawless. Gazelle will then provide you with an immediate cash offer quote. Click the orange "Get Paid" button to continue with the process to lock in the trade-in value for up to 45 days.

Step 2:

You'll then be asked to log in to your Gazelle account (if you have one) or quickly create one (with just an email, name & password). You can then select how you prefer to be paid: by PayPal, check, or in the form of an Amazon Gift Card (receive an extra 5% with this method). Alternatively, you can donate the proceeds from the sale of your iPhone to a charity of your choice.

Step 3:

Gazelle will then ask for your address so it can send you a pre-paid shipping box (for small electronics with a trade-in value of $30 or more) that you can use to send in your iPhone when you're ready. Alternatively, you can choose to have Gazelle email you a pre-paid shipping label and you can affix it to your own box.

Step 4: Within days, the pre-paid shipping box will show up at your doorstep. Simply place your old device in the box by Oct. 14 and send it off to Gazelle. (You don't need to send in any cords or power plugs, just the device itself.)

Once your device is received, Gazelle will completely wipe the personal data off your phone (if you haven't already) and then return it to its original factory settings. It will then pay you via Paypal, email (for an Amazon Gift Card), or issue a check for the cash value of the device you lock in today.

Using a buyback service like Gazelle in recent years has become an increasingly popular way for consumers to afford upgrading each year to Apple's latest smartphone by offsetting the cost of those new devices with the cash they make from selling their old iPhones during peak buyback season.

Still, a study published in 2014 found that iPhone upgraders as a whole were still leaving nearly $13.5 billion worth of devices in dresser drawers to collect dust.

Like iPhones, Gazelle also pays out hundreds for your old iPads and MacBooks. It also sells certified, contract-free & unlocked, pre-used iPhones at up to 40% off compared to buying new.

Additional Apple Deals

AppleInsider

and Apple authorized resellers are also running a handful of additional exclusive promotions this month on Apple hardware that will not only deliver the lowest prices on many of the items, but also throw in free gifts like Parallels 12 or a SuperDrive. These deals are as follows:

See if there is a Mac, iPad, Apple Watch or Certified Used iPhone deal that will save you $100s by checking out prices.appleinsider.com and deals.appleinsider.com.