Top Phone Deals of 2024: How to Save on the Latest Smartphones

Timing is Everything

Let’s start with one of the simplest tricks in the book: timing your purchase. If you’re not in a rush to get the latest phone on launch day, waiting just a few months can save you a lot of money. For instance, when Apple releases its newest iPhone, previous models like the iPhone 13 and iPhone 14 typically see substantial price drops. The same goes for Samsung with their Galaxy S series.

Take Black Friday and Cyber Monday as prime examples. Every year, these shopping holidays offer some of the steepest discounts on smartphones. In fact, in 2023, major retailers like Best Buy and Amazon slashed prices on both new and older phone models by as much as 30%. And it’s not just around Thanksgiving, look out for mid-year sales, back-to-school promotions, and other seasonal events where retailers are eager to clear inventory.

Trade-In Programs: A Hidden Gem

If you’ve been holding onto an old phone that’s gathering dust in a drawer somewhere, it might be time to consider a trade-in. Most major phone manufacturers and carriers now offer trade-in programs that give you credit toward a new device when you hand over your current one. This can reduce your out-of-pocket costs significantly.

For example, Apple’s Trade-In Program often gives users up to $700 for trading in recent models like the iPhone 12 or 13, depending on their condition. Similarly, Samsung has been known to offer generous credit for older Galaxy devices when upgrading to their latest models. Even Google’s trade-in program for its Pixel series has become competitive in recent years.

Of course, the amount you’ll get varies depending on your phone’s age and condition, but don’t underestimate how much value an old device can hold. And if you’re upgrading yearly or every other year, trading in your old model becomes an easy way to keep up with new technology without breaking the bank.

Carrier Deals: Buyer Beware (But Also… Buyer Be Smart)

Carrier promotions can be tempting, you’ve probably seen those “free phone” ads from Verizon or AT&T plastered everywhere. While these deals can indeed save you money upfront, they often come with strings attached. Typically, they’ll require signing up for a multi-year contract or adding a new line of service.

The devil is in the details here. Before jumping at what seems like an unbeatable deal, make sure you read the fine print. Are there activation fees? How long do you need to stay with the carrier? Will your monthly bill increase after a promotional period?

That said, if you're already planning on sticking with your carrier for the long haul and don't mind adding another line or upgrading your plan, these deals can work in your favor. For example, T-Mobile offered customers up to $800 off the latest iPhones in 2023 if they signed up for their Magenta MAX plan and traded in an eligible device. That’s essentially getting an iPhone 15 Pro for free, but again, only if all the conditions align with your needs.

Unlocked Phones: Flexibility at Its Finest

If you’re someone who values flexibility and doesn’t want to be tied down by carrier contracts or specific plans, buying an unlocked phone could be your best bet. While unlocked phones usually cost more upfront compared to carrier-locked versions sold through promotions, they come with several advantages that could save you money in the long run.

An unlocked phone allows you to switch carriers whenever you want (whether it’s because of poor service coverage or just wanting a better deal on data plans) and this freedom lets you jump on any special offers or switch networks without penalty fees. Plus, unlocked phones often have better resale value since they aren’t tied down by carrier restrictions.

If you're interested in going this route, check out websites like B&H Photo Video, which often features unlocked phones at competitive prices during sales periods, sometimes even cheaper than carrier-locked alternatives during events like Black Friday.

Refurbished Phones: The Overlooked Bargain

A refurbished phone might not sound glamorous at first glance, but it’s actually one of the most overlooked ways to save big while still getting high-end tech. Refurbished doesn’t mean “used” in the typical sense; rather it refers to phones that have been returned due to minor defects or just buyer remorse and then repaired (if needed) before being resold.

You can often find refurbished phones at prices that are hundreds of dollars lower than their brand-new counterparts. Websites like Swappa or even Apple’s own Certified Refurbished store offer fully functional devices that come with warranties just like new phones, but at a fraction of the cost.

If you're someone who's hesitant about buying used electronics online from unknown sources (understandable!), going through certified platforms such as Best Buy's Open Box program or Amazon Renewed is another way to ensure quality while saving money.

The Smart Way Forward

No matter how exciting that shiny new phone might look on launch day, patience and strategy are key when it comes to saving money on smartphones in 2024. By timing purchases right around sales events like Black Friday or opting for trade-ins and certified refurbished options, you'll find yourself walking away with significant savings, without compromising on quality or performance.

The important thing is figuring out what works best for your situation, whether that's sticking with a reliable trade-in program every year or hunting down unlocked deals that give you freedom from contracts. Either way, these tips will help ensure you're not overpaying while staying ahead of tech trends.