Apple users look to sell current devices to purchase iPhone 5 - WKRN News 2

Apple users look to sell current devices to purchase iPhone 5

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NASHVILLE, Tenn. -

Apple's announcement of a new iPhone on Wednesday has many iPhone users looking to sell their current device to buy the latest.

Lindsey Blair of Murfreesboro tells News 2 she's looking for a way to save money on an upgrade.

"I got my iPhone in June 2011" she said. "Now I'm looking to sell my iPhone on Craigslist to someone who wants to upgrade so I can get the iPhone 5."

On Tuesday, Craigslist was full of iPhone 4 and 4s users trying to do the same thing. Most were being advertised between $250 to $400 depending on the size.

Gazelle, an online service that buys back iPhones was offering $134 for an iPhone 4 in good condition, but the amount is dropping.

On Sunday users could sell the same phone to Gazelle for $160. The price is expected to continue to drop leading up to Apple's announcement.

Apple has, in the past, put the latest iPhone for sale at $199 with a new two-year agreement with a major carrier.

While earlier models are offered at a discount. The iPhone 4s is currently being sold for $149.99 and an iPhone 4 model sells for $99 with a new contract.

Without a contract those devices sell for around $599.

Some wireless customers also look at breaking a two-year agreement to take advantage of the $199 price.

Verizon and AT&T both charge $350 to break a contract but prorates that penalty by $5 for each month the customer stays within the contract.

So most iPhone 4 and 4s users hope someone will buy their older model phones.

Apple's announcement is scheduled for noon CST in San Francisco on Wednesday.

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