Best time to trade in old iPhone is now

11:33 AM, Aug 20, 2012   |    comments
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UNDATED (CNN) -- If you have your eye on Apple's new iPhone 5, don't wait until it comes out to unload your old one. That's according to those in the trade-in industry.

They say the value will drop as everyone else gets the same idea. And that could happen within two weeks. If you trade your phone in now, you'll get more for it.

Thinking you can't live without a phone? Most trade-in services will guaranteed a price for three weeks to a month. So, you can wait until you have your new model in hand before you turn over your old one.

The only catch: Apple hasn't set a release date for the iPhone 5. But rumors are rampant that on September 12th, Apple will announce when the new smart phone will hit the market.