Remember last year when you were so excited to get the best phone ever! I saw hundreds of people standing in line at one Verizon store to be first to buy the iPhone 7. Ah, but that was so 2016.

Friday thousands of those same people will line up around town to pick up the newest iPhone 8 or 8 Plus, the best phone ever (so far). The question on theirs and other people's minds is 'if I want the newest phone, what should I do with last year's model?"

Wireless carriers have made it much easier to upgrade to each new phone that is released. AT&T, Verizon, T-Mobile and Sprint all offer lease programs where people can trade up to the new iPhone after 12 months. If you don't have one of those plans and if you own the phone outright, what's the best way to get the most money from the old phone?

If you want the most cash you'll probably try selling it on Craigslist or in a Facebook storefront. These sites offer the best return on your investment but it will take more work and more time. I found the going price for an iPhone 7 on Craigslist and Facebook is between $500-$650. Using Facebook might be slightly easier since most everyone seeing your ad will live closest to you. If you do choose this option agree only to meet the buyer at the carrier's store. An employee will be able to check to make sure the phone hasn't been stolen

Gazelle.com and GadgetScouter.com will also buy the phone outright for cash but the offers are a good bit lower than on Craigslist. Gazelle.com is offering to buy iPhone 7's in good condition for $285 while GadgetScouter.com found a place that'll purchase the same iPhone 7 for $330. These companies will send a shipping label so all you need to do is wrap it up, pack it in a sturdy box, put the label on and take it to a shipping location.

Best Buy and Amazon have trade-in programs that offer gift cards in exchange for iPhone's in good working condition. Best Buy is offering $232 while Amazon offers $400 on an Amazon gift card, the price of earlier models are significantly lower.

You might also trade in the phone at your and another carrier. According to their websites AT&T, Verizon and T-Mobile offer a $300 credit toward a new phone on one of their plans. That $300 is only for an iPhone 7 or 7-Plus. Sprint has a great deal offering to take your iPhone 7 or 7-plus and giving you a new iPhone 8. That means you'll pay each month only for the plan. That offer is good only for the iPhone 7 or 7 plus.

You might also checking with each individual carrier. This is a time of year when carriers are interested in getting customers to switch companies. Those carriers are offering great deals if you're willing to switch.

This is the best time of year to buy a new phone, unfortunately it's not a good time to sell an old one. When new devices come out whether they're an iPhone or an Android device, it is a buyer's market.