Apple is still mum about its plans but rumor has it that the company will announce a new iPhone on September 12 and most people are betting that it’s a pretty big upgrade. I’m sure I’m going to want that new phone but I bought an iPhone 4s about a year ago, which means I still have another year on my contract. I could buy the new phone, but it would probably cost me $649, rather than the $199 price that most carriers offer you if you’re a new customer or if it’s been at least two-years since you last bought a subsidized phone. That’s right — cell phone companies pay a big chunk of the price of new phones to hook you into a contract and they’re not going to let you out of that contract without a hefty fee nor sell you a new phone for less than the full retail price.
But, according to CNET Senior Writer Maggie Reardon, you may be able to sell your existing phone on the used market for as much as $263 if you act right away. For more, check out the Ask Maggie post at CNET news.