Costco Members Cash In on Old Gadgets with Lucrative Trade-In Program

Clear Facts

• Costco’s trade-in program allows customers to receive cash for old devices through a partnership with Phobio.
• Customers can receive a Digital Costco Shop Card within one to two days or a physical card within seven to ten days.
• The program accepts many brands and can offer significant returns depending on the device’s condition and age.

No matter how much you cherish your gadgets, they eventually reach a point where they become outdated or start malfunctioning. When this happens, instead of discarding them or letting them gather dust, you can actually get something in return. Thanks to Costco’s trade-in program, you can receive free cash for your old devices.

Often overlooked, this program is a hidden gem available to Costco members through a partnership with the trade-in service Phobio. According to the Costco website, the process begins online where customers answer a few questions about their device’s model number and condition. Costco then provides an instant quote for the item, indicating its trade-in value.

Customers receive either a shipping label or a box with prepaid postage to send in their device. After erasing all data and packing it up, the device is sent to an inspection facility where it is wiped again and its condition is confirmed for a payout.

As little as one to two days later, you’ll receive a Digital Costco Shop Card loaded with the cash value of your device right in your inbox. You can also opt for a physical Costco Shop Card that ships within seven to ten days.

Of course, the amount of money you get back depends on the condition and age of your gadget. However, the program is quite inclusive, accepting many brands such as Apple, Samsung, and Google.

Just how lucrative can it be? Rates can be as low as $15 for an almost obsolete iPhone 8 released in 2017, and up to $525 for a MacBook Pro M2. Even a 13” MacBook Air from 2017 can fetch $50, and an Apple Watch Series 7 Titanium can net you $75.

Unsurprisingly, shoppers seem to appreciate the service.
“Costco is the best. Like seriously the best,” one customer commented on an Instagram post by user @CostcoBuys highlighting the service.

“How great is this?! I have stuff that stopped working,” another wrote.

Arguably, one of the best parts of the program is that it provides some return on an item you might otherwise discard. It also ensures the device is properly recycled rather than ending up in a landfill.

“What many consumers might not realize is that even older or slightly damaged items can still hold value in this program,” Samuel Davity, founder of UrbanTufting.com, said.
“For example, a cracked screen or an outdated model might still bring in a decent return.”

And besides its age and condition, you might want to keep something else in mind when you go to cash in on your electronics.

“A handy tip not everyone might know is to monitor the trade-in values regularly. They tend to change, especially around the time new models are about to be released,” Dane Nk, the founder of That Video Game Blog, said.
“This could mean getting a better deal.”

“From my own experience, retaining the original packaging and maintaining your electronics in prime condition could boost your trade-in value notably,” he added.

Let us know what you think, please share your thoughts in the comments below.

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