If you're on a budget, a brand new smartphone, especially a flagship phone, may not be in your best interest, even with a financing option in place. Nowadays, the latest smartphone may be priced higher than a 60-inch 4K television!
However, you should know that there are affordable options that won't be as harmful to your wallet as a full-priced phone. All you need to do is turn your attention to the used smartphone market, which is growing exponentially.
In fact, the International Data Corporation (IDC) estimates that the number of used smartphones in the refurbished phone market will increase from 81.3 million in 2015 to 222.6 million in 2020. This only means that the used smartphone market is in high demand, and they will likely remain that way due to the following factors:
- As mentioned initially, average smartphone cost is rising; Business Insider points out that average smartphone prices are climbing from $306 (2016) to $324 (2017 estimate). We've seen the iPhone X being priced at a whopping $1,000. The Samsung Galaxy Note 8 does not fall far behind, being valued at $930.
- Smartphone owners may sell their phone at a decent price, potentially receiving 50 percent or more of the phone's original value.
A used cell phone is much cheaper compared to a new phone, so if you're tempted to purchase a refurbished model, then you should buy an immediately unlocked phone from the seller. You can learn more about unlocking your used phone with our guide, "How to Unlock Your Phone & Use it With a New Carrier."
However, if you're considering to buy a used (and possibly refurbished) cell phone that's for sale at a retailer, then you should make sure to compare prices from the top resellers in order to find the best price for the phone that has caught your eye. With our unlocked, refurbished cell phone comparison tool, you'll find the best price for your phone in one simple place.
Furthermore, if you're uncertain of what cell phone plan you should tether your phone to, then you should consider using our cell phone plan comparison tool.
Of course, if you're not searching for a refurbished cell phone and have one available to sell, then you may want to peek at our guide to selling your smartphone. Furthermore, if you're interested in reading in-depth reviews on cell phones, then head on over to our cell phone review section.