How to make Money from your Old Technology

How to make Money from your Old Technology

When it’s time to upgrade your phone or laptop, what do you do with the old one? We used to only get new technology when the old device is damaged or broken, but with attractive upgrade offers and the higher quality of technology now, many people find their old phone is still in great working order when their new device arrives.

Some people like the security of a backup in case of emergencies but there’s no real need to hang onto older technology when it could be generating some cash which can go back into the bank and be used for something more useful. Old gadgets should never be tossed into the bin, instead, consider the many ways you could recycle and generate a bit of cash from your old device.

High Street Swap Shops

There are a wide range of shops on the high street which take old technology in exchange for cash, or credit in their store. Some companies will pay for all kinds of technology including smartphones, games consoles, laptops and even satnavs. Buy-and-sell stores, more like a traditional pawn shop, also take old technology with some cash back to you.

Online Marketplaces

eBay or your chosen online marketplace can be the perfect place to shift your old tech. Seller fees are relatively low if you only make occasional sales and you can show exactly what you’re selling and the condition it’s in and see what people are willing to bid. You can also set a reserve so you can ensure you get a minimum amount for your old device.

Facebook and Community Sites

Facebook Marketplace is free for all to use and can be easy to sell old tech locally. You can simply upload a photo and write a quick description and then other users can get in touch. Most will want to pick up in person so keep this in mind and you may also get offers for less than the price you advertise so you’ll have to decide if you’re willing to take less.

Back to the Seller

Many of the companies who sell us our tech are more than happy to take it back to recycle and give you a fee for doing so. When you next upgrade your smartphone, you will probably see an option to send back your old device too.

Specialist Service Providers

There are lots of postal and online services who will take your old devices in exchange for cash. You should always check the reputability of a scheme before you use it and many will also send out a box and a courier to collect your item so the cost to you is zero. If you search online for “cash for gadgets” or “selling old tech” you’ll find a lot of sites offering your service so compare and decide which is best for you.

A Final World on Data Security

Once you’ve decided to offload your old tech don’t forget to ensure all your data is removed and the devices are wiped clean. Performing a factory reset is the best way to do this to avoid any traces of your information being held on the device. Once the device is clear swap it for cash and benefit much more than if you left it languishing at the bottom of a drawer.

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