Save hundreds on cellphones through second-hand market, experts say

The cost of new smartphones is at an all-time high, with some topping $1,000.

But some savvy customers are saving hundreds of dollars when they buy and sell their phones.

Instead of the newest phones, some are heading to the second-hand market.

Many carriers and sites like Gazelle and Glyde are selling refurbished phones at a steep discount. Some phones are less than half the price of a new one.

Experts say used phones have all the new features and more.

“The other big aspect is the storage capacity,” said Kelsey Sheehy, writer at NerdWallet. “You get a lot more bang for your buck with the storage if you go with a used phone option.”

If you are looking to upgrade your phone from an older model, you can also make some money.

Websites like Flipsy can help you find out where to sell your phone and what it's worth.

Experts say before you sell that phone make sure your device is no longer under contract.

Also, unlink accounts like Facebook and email from the phone and finally perform a factory reset to wipe any stored data.

Some models can go for more than $400.

Cox Media Group