Updated May 24 with more details of the trade-in changes.

Apple almost never drops the price of an iPhone in the year after it’s announced. The iPhone 16, for instance, starts at $799, the price announced in September and it’s unlikely to change until the iPhone 17 is introduced in the fall. However, a new, limited-time offer from Apple changes things and is available when you’re buying an iPhone 16 series or earlier iPhones. Note, though, that it’s an offer that runs for less than a month.

That’s down to increased trade-in values which can be found in the trade-in page on apple.com, here. However, as it’s announced, Apple warned that it’s a temporary “extra credit” situation, running for just a matter of weeks, until Wednesday, June 18. And to get the benefit, you need to be trading in for a new iPhone.

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The deals highlighted in this post were independently selected by the Contributor and do not contain affiliate links.

This extra credit means that, depending on what you’re trading in, you can save up to an extra $30 compared to the previous trade-in, as spotted by MacRumors.

All the iPhone trade-in rates have increased, but some have only gone up by as little as $5 compared to what they were before, and the full discount only comes when you trade in for an iPhone, not for anything else. Across the board, the trade-in values stretch from $50 for an iPhone 8 up to $650 for an iPhone 15 Pro Max, assuming each is in good condition.

For instance, if you have an iPhone 15 Pro Max and you want to move to the latest model, the iPhone 16 Pro Max, you could trade in the old model.

What governs the exact trade-in value is the condition of the phone. Apple will ask if it turns on and works normally, all the buttons work and the cameras work and have lenses free of damage Beyond that, the phone needs to have a battery that holds a charge, the body is free from dents and scratches, the touchscreen and back glass are undamaged and the display is free from distortion etc. If you can answer yes to all of these, you can snag $650 in trade-in value against the new phone, instead of the $630 maximum trade-in value before this new offer.

So, instead of paying the new price of $1,199, you’d get it for less than half that, $549. Or choose the iPhone 16 Pro and the price after trade-in will drop from $999 to $349.

If you just want trade-in credit to use another time or for something else, you’ll get up to $620.

The biggest uptick in trade-in value comes if you trade in an iPhone 12 (up to $200) or iPhone 12 Pro (up to $250), where the trade-in credit is now $30 more than it used to be.

Other high-value trade-ins include up to $520 trade-in on the iPhone 15 Pro (up from $500), up to $460 on the iPhone 14 Pro Max (previously $450) and up to $400 trade-in on the iPhone 14 Pro, which previously maxed out at $380. The oldest iPhone you can trade in is the iPhone 8, which will net you up to $50, previously $45, and the iPhone 8 Plus and iPhone X which both have trade-in values of up to $65 for the duration of this offer.

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