New phones are expensive. If you want the latest, high-end model from Apple, Samsung, or any other vendor, you're going to spend close to $1,000. That's why so many people choose to trade in their old devices when they're ready to upgrade. Unfortunately, the companies that make your phones decide how much the old phones are worth as well. And you never know exactly when your phone's value is going to suddenly plummet. For example, this week, Apple lowered the trade-in prices of more than 20 Android phones with no warning. Some of its own products were affected as well.
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