Sprint, T-Mobile out competing trade-in programs ahead of new iPhone 6 debut

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A new iPhone is expected to debut at an Apple press event on Tuesday. New Android devices are also on their way this fall, such as the Samsung Galaxy Note Edge, the new Moto X, and Sony Xperia Z3. Hoping to capitalize on a slew of potential trade-ins, Sprint and T-Mobile sent out battling press releases on Monday to show who had the better buyback deal.

Both carriers say they will meet or beat trade-in offers from any of their major competitors, including AT&T and Verizon as well as each other.

Under Sprint Buyback, the carrier offers up to $300 for trade-ins on eligible devices regardless of carrier. The trade-in value can be used as account credit or to purchase a new device. But if you find a better deal elsewhere, Sprint says it will meet or beat it. Sprint's deal is available right now.

Not wanting to be upstaged by its slightly larger rival, T-Mobile CEO John Legere put on his "Crazy Eddie" hat again to offer a similar deal with an extra incentive. Starting September 17 for an unspecified limited time, T-Mobile says it will monitor trade-in market prices daily to make sure it's offering the best deal possible. But if you happen to find a better deal from AT&T, Sprint, or Verizon—and you can prove it—T-Mobile will match the lower price and throw in an extra $50 credit.

If you're hoping to take advantage of these deals in bulk there are a few things you have to keep in mind. T-Mobile will only allow one trade-in per active line and limits trade-ins at 10 lines. Sprint, on the other, hand will let you trade-in up to three phones per line at one time and up to five buyback trade-ins during a calendar year.

Both trade-in offers sound like pretty good deals. But unless you really want that $50 credit or have multiple devices to trade-in, switching to Sprint or T-Mobile really comes down to how good each company's service is in your area.

Before you go running off to Sprint or T-Mobile, however, don't forget to check out what AT&T and Verizon are offering as the two larger carriers also accept device trade-ins from competitors.

This story, "Sprint, T-Mobile out competing trade-in programs ahead of new iPhone 6 debut" was originally published by TechHive.

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