A new iPhone is reportedly arriving this fall and what that means is that users might want to enjoy the new features on a new model. However, a new iPhone can be very costly, but a trade-in deal might just do the trick, according to CNN Money.

As stated in the report, anyone who has an old iPhone and wishes to buy the new one when it comes out should consider selling the former while its value is still acceptable.

Based on the eBay data studied by NextWorth, the resale value of an old iPhone drops by around 10 percent particularly in September and October, because these are the months when Apple usually releases a new gadget.

When it hits November or December, the resale value could drop by a whopping 30 percent.

Jeff Traschel, NextWorth's chief marketing officer, told CNN Money that the abovementioned trend has been ongoing for the last four years. He even expects that the pattern will continue on during the launch of the upcoming phone from Apple.

Several companies are willing to accept old iPhones for trade-ins. Verizon, Sprint, T-Mobile, and AT&T will buy old iPhones from customers. Best Buy, Target, Wal-Mart, Amazon, and even the Apple Store will accept them as well.

There's also the trade-in websites like NextWorth who will buy old iPhones for a high selling price.

It was reported that NextWorth will buy iPhone 6 128 GB running on T-Mobile for $380 if someone sells it to them now. If a seller waits until November or December, the price will drop to $250.

Trading an old iPhone is more than just thinking about the cash that one could generate. There are several factors to consider before going for a trade-in deal.

For instance, is the old iPhone still in good condition or has it undergone jailbreaking? These questions are important since the condition or the jailbroken state of the phone can affect its value, techgadgetcentral.com wrote.