Buying the iPhone 5? Here's What to do With Your Old iPhone

Options for making the transition as smooth as possible.

iPad and iPhone
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Selling directly to consumers through a site like Craigslist could get you more money but with a higher potential for scams. "You're potentially taking a risk by trying to get a greater financial reward," says Rettinger. If you do decide to sell your iPhone to someone on Craigslist, he suggests meeting in a public place, preferably in front of a bank or ATM, because they have plenty of cameras in case the deal goes awry.

*Trade-in values may fluctuate, but were accurate at the time this article was written.