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Target will offer at least $200 for your iPhone 5

You can apply the trade-in price toward one of the new iPhones or another item.


iPhone 5 owners looking to trade in their phone can get at least $200 from Target.

The retailer announced Friday that the current trade-in promotion applies to older iPhones as well. An iPhone 4S trade-in could net you at least $125, while the iPhone 4 could score you $75. The actual trade-in price naturally depends on the phone's condition and storage capacity.

The money comes as store credit that consumers can use to buy one of the new iPhone models or almost any product at a local Target store or on Target's Web site. Customers who own a Target REDcard can also trim 5 percent off the cost of a new iPhone or other smartphone.

However, traders can score better deals by going elsewhere.

Target works with NextWorth on its trade-in program. Directly using NextWorth typically earns you more money. For example, a 16GB iPhone 5 in working condition is worth at least $300 via NextWorth.

Walmart is also offering up to $300 in the form of store credit for a working iPhone 5.

As always, people who want to trade in or sell their iPhone or other smartphone should shop around.

Like other retailers, Target on Friday launched preorders of the iPhone 5C and will sell the 5C and 5S at Target Mobile centers starting September 20.

Correction, 1:55 p.m. PT: An earlier version of this story misstated the trade-in value Target is offering for older iPhone models and where Target is selling the iPhone 5S and 5C. Target is offering at least $200 for the iPhone 5, at least $125 for the iPhone 4S, and at least $75 for the iPhone 4. The iPhone 5C and 5S will be available for purchase at in-store Target Mobile centers.