Ultimate Guide to Selling a Financed Phone

Alongside the ability to reach out to friends through calls, smartphones offer a range of other benefits that are beneficial to our professional lives and our social lives. Either way, smartphones could be great game-changers.

However, a quality phone attracts. And, that’s really not a surprise. Given the amount of effect a smartphone has one an individual’s productivity, and creativity, a smartphone could be considered an asset.

Unfortunately, not everyone is capable of settling such kinds of bills upfront. Luckily, they don’t have to- at this point, financing of phones becomes handy.

What Really is a Financed/ Leased Phone?

Most people want the smartphone of their dreams without having the bank account capable of affording it. However, you do not need to put up a huge chunk of cash upfront to gain possession of your dream smartphones. Smartphone financing offers you the privilege of paying for your newly acquired smartphone in bits. And you know what the best part is? Most times, you do not need that saint-kind-of-perfect credit score; a bad credit score would do.

You probably know all these, but selling your supposedly ‘financed smartphone’ poses the need to reiterate the true meaning of a financed phone. Also, your phone might have been financed without your knowledge: the latter words of this article goes deep into teaching you on how to check if your phone is financed and how to sell a financed phone off.

How Do I Check if my Phone is Financed with my Carrier?

Just as there are hundreds of search engines that would generate the same information searched for by a user, there is a variety of channels through which you could access the financial position of your phone. You must want to check IMEI and ESN of your phone. First off, there is https://www.imeipro.info; more like a website that has the carrier finance IMEI check feature for sprit, t-mobile, and at&t phones.

On the other hand, find a way through which you can get across to your peculiar smartphone carrier; and request for your phone’s financial standing. This is also how to check if a phone is paid off.

Can I Legally Sell a Financed Phone?

Yes. The simple answer is, yes you can. Here’s how:

When you got into a contract with your legal carrier, a long rope of unsecured credit was extended to you. And, that’s in your favor. Lucky you, your carrier can’t repossess your phone.

If you are having thoughts about this route, the best practice is to pay off the remaining balance as soon as you sell your phone. And yeah, you get to essentially cancel the contract you have with your carrier for free.

The best part is, you wouldn’t be entangled in the ropes of any contract; which means you are at liberty to buy any phone or plan you deem fit.

However, it is noteworthy I state that failure to make payments could spell some legal trouble for you and your buyer. This could include your phone being blacklisted, meaning the buyer will not have access to the phone. But then, selling the phone would also mean you’ve got some extra cash from the sale which could cover-up for your debt.

How is the Value of a Financed Phone Different from the Value of a Bought Phone?

Phones are generally more of an asset than other items. Whether it is a financed phone or not, they tend to maintain their values for a longer period of time, as compared to other items such as clothes.

However, there is something you should know about how the business world looks at financed phones: When it comes to selling off phones, you should narrow down your mind to the fact that; just because your phone is a financed phone, it wouldn’t have as much value as upfront-paid phones.

Where Can I Sell a Financed Phone?

There are various channels through which you could sell off your finance phones. However, most people prefer the online route. And, actually, it is kind of the best. Not only is it quicker, but it is safer.

The online route also has many side branches including companies such as Swift Tech Buy. At Swift Tech Buy, not only do you sell off your phone faster, you get more value for your phone. Send in your phone, and let us examine its serial number alongside your cost price, and you are good to go!

Another channel you could consider is the local store channel. Most carriers operate a buyback program – and you could take advantage of this.