Cell phones and smartphones are a necessity in our modern world. Cell phones allow us to keep in contact with our social and professional contacts, increase productivity, and even take photos while on the go. As a tool we use daily, they are equipped with valuable hardware and technology that comes at a price that not everyone can afford upfront. As a result, many people choose to finance or pay off their cell phones over time. What happens if you are ready to upgrade to a new phone but have yet to pay off your old one? Thankfully, you can sell your old phone even if it has not been paid in full, and doing so comes with multiple benefits.
To sell your financed smartphone, you will need to find out how it was financed. Financing may have been through a retailer, cellphone service provider, smartphone manufacturer, or a BNPL (buy now, pay later) platform. If you are unsure how your phone was financed, you can use the cellphone’s IMEI or ESN number to check. Before you sell your phone, confirm the source of your financing and pay off any remaining balance.
There are multiple benefits to selling your financed cellphone. The good news is that its value is the same whether your phone was financed or paid in full upon purchase. Selling your phone can give you extra money to pay off any debt owed and prevent your smartphone from becoming blacklisted. Additionally, once you pay off the remaining balance of your old phone, you cancel the contract with your carrier, avoid termination fees, and are free to purchase a new smartphone or plan. Lastly, it is easy to sell a financed phone online through a trusted reseller who will pay you a competitive rate for your used phone and even help with shipping.
So to answer your question, can I sell a phone I haven’t paid off? the answer is yes.
Selling a financed phone is easy and can work to your benefit. Not only can you upgrade to a newer phone, but you will be able to cancel your existing contract and avoid termination fees. The latest smartphone is within your budget if you make a smart decision and work with a reputable online smartphone reseller.