If you want to buy the Google Pixel 4 or Pixel 4 XL without paying full price, trading in your old Pixel is a smart way to do that. But to get the most value out of your phone, you should trade it in sooner rather than later. Once Google’s next phone is in the wild, the value of your older Google Pixel 1, 2, or 3 will greatly diminish.

Now that the Pixel 4 and Pixel 4 XL have been announced, many will decide whether they’ll go for the latest model or buy a lightly used phone from an older generation that will suit their needs without breaking the bank. If you’ve got an older Pixel model and are ready for an upgrade, here are a few steps to take in order to get your device ready to sell, followed by how much cash you can expect to earn back.

Inspect your phone

If your old Pixel device is in good condition, you shouldn’t have much of a problem finding a new owner. As mentioned in our guide on selling your iPhone, having a phone in good condition is crucial to finding a buyer who’s willing to pay top dollar.

Even if your phone isn’t in the best shape, you should still be able to get something for your trade. Take into consideration its blemishes, including scratches, dents, cracks, and any other quirks that the next owner should know about. Be honest or else it will probably come back to bite you.

Erase your phone

There are three steps involved in securely wiping your Android phone. These steps can vary slightly depending on whether you have a Pixel, Samsung, or a phone from another manufacturer. The instructions here are for a Pixel; if you have a different phone, it shouldn’t be too difficult to figure out the similar steps

Disable Factory Reset Protection. This feature prevents your phone from being wiped if it’s stolen. To disable it, all you have to do is turn off your Screen Lock. (You’ve had your Screen Lock set, right?) Navigate to “Settings” > “Security” > “Screen lock” and select “None.” Remove your account. Assuming you have updated to Android 10, erasing your phone starts with navigating to Settings > “Accounts” and tapping on the account (or accounts, if you have more than one) that’s listed there. Then tap on “Remove account.” You’ll get a warning pop-up. Tap on “Remove account” again. Factory reset the phone. The next step is to factory reset the phone to completely wipe it of all your data. Back at the main settings menu, select “System” and then hit “Advanced” at the bottom. If you haven’t backed up your phone to Google Drive recently, you can go to “Backup” and select “Back up now.” Otherwise, going into “Reset options” will take you to the final step. Select “Erase all data (factory reset).” You will get a warning page, and if you’ve neglected to sign out of any accounts, it will be listed there (and you should go back and remove it). Otherwise, tap on “Erase all data.”

Trade or sell?

When you trade in your phone to a manufacturer or carrier, you may be trading price for convenience. It’s up to you which you choose.

Google’s trade-in program can be accessed during the checkout process for a new phone. During its preorder period, Google says it offers up to $400 for a trade-in. I pretended to have a Pixel 3 with 64GB storage that was in working condition and free of cracks, and I was offered $225, while a Pixel 3 XL with 64GB brought a quote of $260. A Pixel 2 with 64GB storage got me an offer of $110, and a 2 XL was worth $143. Finally, an original unlocked Pixel with 32GB was worth a big $47, while its XL sibling brought $66.

You may be able to get a better deal with a carrier as long as you read the small print. For example, Verizon is offering a discount of $450 on a new phone if you trade in one of a long list of phones (and commit yourself to its Unlimited plan), while T-Mobile will give you a free Pixel 4 if you switch to its plan and have a Pixel 3, 3 XL, 2, or 2 XL.

As for where you can sell your old Pixel phone, Swappa.com is a top pick with a healthy community of buyers and sellers. Since what you can get from a site like Swappa can vary, I looked at both the average sales prices for the various Pixels and the lowest price suggested (for which you would more likely find a buyer).

An original Pixel with 32GB of storage brought an average price of $90 and a low price of $71, while a Pixel XL got an average of $115 and a low price of $85. An unlocked Pixel 2 with 64GB rated an average of $227 and a low price of $170; the 2 XL version was quoted with an average of $216 and a low price of $190. Finally, an unlocked Pixel 3 with 64GB had an average selling price of $319 and a low price of $285; the 3 XL version brought an average of $351 and a low selling price of $329.

There are, of course, other sites where you can sell your phones, including eBay and Gazelle. Whether you use one of them to make up the cost of a new Google Pixel 4 or decide that the convenience of trading the phone in is worth the extra bucks is up to you.