Selling vs exchanging: What to do with your old gadgets and appliances

So, you’ve finally decided to upgrade to a new AC, smartphone, washing machine, laptop or some other gadget or appliance. To get some of the price shaved off your new purchase, you probably know that you can use your old appliance or gadget, which brings you to the next big question – should you sell it or exchange it?

While it may seem like it doesn’t make much of a difference, selling and exchanging your old tech are very different approaches, each of which have their own pros and cons. Here’s a quick guide to understanding each approach of giving away your old tech.

Selling your old gadget/appliance

Selling your old gadget or appliance is simply giving it to another user in exchange for money. You may sell older phones, laptops, washing machines or any other gadget or appliance to either someone you know or a stranger.

ALSO READ: 5 ways to prepare electronics before exchange

While the actual selling process can be relatively simple and usually just involves handing over the product and collecting the payment, finding a buyer can be a task. Depending on what you’re actually selling, you may have quite a few buyers, or none at all. Of course, other factors like the brand and model, as well as condition and usage period will also determine the price you can sell a gadget at.

Exchanging your old gadget/appliance

Unlike selling, exchanging involves giving the product to an exchange service or a retailer that supports exchanges, and not to another user. This product may then be either recycled or refurbished by the exchange service provider.

Exchanging an older gadget or an appliance can be simpler for some users, as it eliminates the process of finding and going through multiple buyers and having each of them check your product, before you choose the one that offers the bets price. Instead, exchange service providers often have a fixed price of a particular gadget/appliance, determined by the brand, model, specifications and condition.

Pros and cons of selling and exchanging

Selling your old product may fetch you a higher price and allows you the freedom to do what you choose with your money, but that depends on you finding the right buyer after going through what could be days or weeks of scavenging.

What you will have to go through include hunting for buyers, having each buyer enquire about/inspect the product individually, dealing with bargaining, and even last-minute backouts. Hence, you can never predict when exactly you will be able to sell a product if you want to fetch a good price. With personal items like smartphones and laptops, selling also involves the risk of buyers misusing your device, which due the lack of a proper selling receipt, may be traced back to you.

ALSO READ: Buying a laptop from a store? Here’s what you need to keep in mind

Exchanging your old product, on the other hand, is a much safer, hassle-free option. If an older product is eligible for an exchange, you can simply take it to the exchange service provider, get a price quote, and then get the same amount waived off your new purchase. You don’t need to look for buyers.

Exchange service providers will also have proper multi-point checks in place to ensure the exact condition of your product at the time of exchange, unlike other buyers who may buy a product and complain of defects later on (including defects you may not have anything to do with).

Selling vs exchange: Which one should you go for?

Unless you know a trusted buyer, who is interested in buying your product, and paying a good price for it, an exchange is a much more convenient option for most people. It takes out most of the effort and rewards you with a discount off new purchases. Whether you have an old appliance or gadget, if what you’re looking for is a quick worry-free upgrade, an exchange may be the way to go for you.