Taking the sting out of that iPhone price tag



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Posted on September 13, 2012 at 2:18 AM

Updated Thursday, Sep 13 at 2:18 AM

Will you be among the first in line for the iPhone 5? Apple's sixth iteration of its iconic handset, unveiled on Wednesday, features a larger screen for the first time along with the ability to communicate on the fastest wireless networks.

Prices for iPhone 5 start at $199 (with a two-year contract), and while there is a way to get some cash back in your pocket, you're advised to act quickly.

Retailers and websites will buy back your phone, but the price is dropping as we speak.

You can trade in an old iPhone at the Apple Store's Reuse and Recycling program. The company was offering a $285 credit for an iPhone 4S model with 16 gigabytes of memory. The credit is lower for handsets that are in less than pristine condition; higher for models with more storage capacity.

You can also go to a third party. After the iPhone 5 launch on Wednesday, Gazelle was offering $280 for an iPhone 4S in good condition; Nextworth was willing to pay $280 as well.

Perhaps the best deal being offered is from Amazon Trade-In, which was offering a gift card valued up to $375 for an iPhone 4S in "like-new" condition. The only catch: You can only use the gift card at Amazon, and Amazon Wireless doesn't sell iPhones on contract.

And if you want to buy a new iPhone but don't want to splurge for the latest model, Apple is dropping the price of the iPhone 4S to $99, and the iPhone 4 will be available for free (and yes, two-year contracts are a condition).

E-mail dschechter@wfaa.com