If you dropped big cash on an iPhone 3G S and spend $100-plus a month on service, the makers of a new app figure you could make up the difference in scavenging quality free stuff from the neighborhood.

The Yoink iPhone app, scheduled to officially launch next week (it has technically been available since mid-January), helps you do just that, using the phone’s built-in GPS. So if there’s a toaster oven that someone is trying to get rid of a few blocks away, you’ll know it. Yoink even lets you communicate with other members inside the app to figure out pick-up times. Conversely, the service makes it easy to get rid of your own stuff–snap a picture, write up a description, and let the app do its magic.

Examples of recent Yoink items include a computer desk, an electric meat slicer, a wired USB laser mouse, and a Samsung laser printer. If you don’t have an iPhone, check out the Web-based Yoink here. And get going before someone takes that sweet electric meat slicer.

[Via Treehugger]