The best phone trade-in deals for the iPhone 16 series

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Apple’s latest smartphone release, the iPhone 16 series, comes with a range of features, but with that comes a starting cost of $1,399 for the base model. Even Apple’s ‘budget-friendly’ iPhone 16 model, the iPhone 16e,  costs $999 upfront — which for many people still isn’t affordable. For those wanting to upgrade to Apple’s newest model, buying the phone on a plan through a telco can spread the cost of the device over 12, 24 or 36-months. However, it won’t reduce the overall price, so you’re still paying the premium cost for your new phone.

If you’re looking to upgrade to the newest iPhone from a device that is still in good condition, you may be able to save hundreds of dollars by trading in your existing phone. Telstra, Vodafone and Optus all offer trade-in options for new iPhone buyers. To help you find the best deal, we’ve compared the trade-in options from each telco and compiled a few tips on how to get the best value for your current device.

Telstra iPhone 16 trade-in deals

In the past, Telstra has offered special trade-in deals to encourage buyers to get the latest model at a much lower price. This time around, there are no special offers for the iPhone 16 series, but you could still get up to around $1,000 off when you trade in select devices.

Telstra customers can trade in selected Apple, Samsung, Google, OPPO, and Huawei smartphones , as well as select tablets or smartwatches. When trading in, the newer and more expensive your current device is – as well as the higher the storage capacity –  the more money you will get off from your trade-in.

For example, if you traded in Apple’s second-most recent release, the iPhone 15 Pro Max 1TB model, you could get just over $1,000 off the cost of the iPhone 16. If you’re looking to change from Samsung to Apple, your Galaxy S24 Ultra could get you up to $825 off.

Older models released two, three or more years ago will of course get you a lower trade-in value. The 2020 iPhone 12 will only take about $200 off the cost of your new phone and the 2021 Galaxy S21 will barely get you $145 off.

To get the most amount of money off your new iPhone 16, your current device also needs to be in good working condition. Any damage, battery issues, or other concerns will mean you will get less credit on your device.

To receive the credit towards your new iPhone 16, complete the trade-in estimate on the Telstra website, submit your trade-in request and choose your device and plan. You will need to send your old, factory-reset device to a Telstra store or Australia Post Office for free within twenty-one days of your request. Once Telstra has received the device, the credit will be applied to your account within the first two billing cycles.

Vodafone iPhone 16 trade-in deals

Vodafone often has discounts on devices’ recommended retail prices on certain plans to encourage customers to stay connected for the longest term. Taking advantage of any available discounts alongside trading in an old phone can help you save the most money on your new iPhone 16.

Vodafone accepts select phones from Apple, Samsung, Google and OPPO and also accepts tablets and smartwatches. The most amount of money you can currently save on the new iPhone 16 range is by trading in an iPhone 15 Pro Max 1TB. This will save you up to $1,000. A Samsung Galaxy S24 Ultra with 512GB of storage can get you up to $745 off your new phone, and the latest Google Pixel, the 9, can take $455 off. Older devices like 2019’s Galaxy S22 or iPhone 13 will get you less than $300 off.

To receive your full trade-in credit, you will have to stay connected to your Vodafone plan for the entire duration of your phone payment period. Unlike Telstra where your credit is paid in full in your first two bill cycles, Vodafone will apply your credit in equal monthly installments over the course of your plan. If you cancel your plan before your phone payment period ends, you will still be refunded the remaining balance of your trade-in credit, although you’ll need to pay off the remaining balance of your device.

To trade in a phone with Vodafone, fill out the device assessment form for your old phone once your new handset has been received and activated. Once the assessment has been completed, you will receive your trade-in quote and ID number, which you will use when handing in your device.

Your old phone can be handed in directly to a Vodafone store, or mailed to Asurion — Vodafone’s trade-in partner — through Australia Post within 14 days of receiving your quote. Once assessed, the credit will be applied to your monthly bills over your 12, 24 or 36-month plan period.

Optus iPhone 16 trade-in deals

Unlike Telstra and Vodafone, Optus does not apply the trade-in credit value to your new device and plan — the credit instead comes in the form of a Mastercard gift card.

Optus only allows trade-ins on select devices from Apple, Samsung and Google, however this includes tablets and smartwatches. Optus accepts trade-ins on iPhone models dating back to the iPhone 7 series, which would give you a credit of around $20. When trading in, the newer and more expensive your current device is, the more money you will get. For example, if you were looking to upgrade from the iPhone 15 Pro Max 1TB to the iPhone 16, you could get just over $1000 in Mastercard gift cards.

If you are looking to trade in your device through Optus, you’ll need to head to the telco’s website, enter in your device’s serial number and follow the prompts. Once you have received your Quote ID number, you can either drop your device into your local Optus store, or send it via post for free. The assessment period will usually take five working days: once completed, your prepaid Mastercard for the credit value will be mailed out to you within 30 days. The gift card can be used anywhere that Mastercards are accepted, but cannot be used to buy a new device directly through Optus.

Which telco has the best trade-in deal?

If you are planning on trading in your current device for a new iPhone 16, it is best to shop around to see which telco is going to provide the biggest credit. The credit value will depend on:

• The physical condition and working order of your device.
• Your device’s model and storage size.
• Which telco you choose.

Although some telcos may provide a bigger credit, they may not offer the best value plan, so you may end up paying more in the long run. For example, if a telco offers an extra $100 off your new device, but the plan costs $10 more every month, you could be paying an extra $120, $240 or $360 over the course of your contract.

To find out which telco offers the maximum credit towards your existing device, see the table below. Keep in mind that the values below are a guide only and you should check the providers’ websites for a more accurate quote for your device.