If you're anything like me, you probably like to hang on to your current phone for as long as possible. After all, who wants to shell out $100, $200 or more for a new phone when the one you have is perfectly fine? So what if people snicker at your hot pink Razr flip phone from 2004 or that first generation iPhone that you've been hanging on to all these years, right?

However, just because you don't want that upgrade you're eligible for doesn't mean that you shouldn't get it. With the new buyback site, MaxBack, you can sell that new (or used) phone and make some money!

What Is MaxBack and What Devices Do They Accept?

MaxBack is an electronics buyback program that will purchase your new, used or broken phones and electronics for cash. They buy Android, iPhone, Blackberry and Windows phones, as well as tablets and now wearables like smartwatches! And if you're worried about your personal data on your device, don't be – MaxBack clears all devices of personal information and restores them to their original factory settings.

How Does MaxBack Work?

Search for your phone on their site and select its current condition. From there you will be given an instant quote, which is good for 30 days. Next, drop your item in the mail using the pre-paid USPS label and wait to get paid! Once they've inspected your item, you'll be paid via Paypal or check.

One of the best aspects of MaxBack is that they average just 2-3 days from the day they receive your item to the day you get paid. In fact, MaxBack even shows you the forecasted date of your payment when you get your quote!

Why Choose MaxBack?

You'll often find payouts from MaxBack are higher than many of the other buyback sites. After a few minutes of comparison shopping, I discovered that MaxBack currently pays between $10 and $35 more for a 16GB iPhone 5 than Best Buy, Gazelle and Nextworth. After checking out a few other models, including the LG Escape and Samsung Focus, I found that, with a few exceptions, MaxBack was typically offering the highest payout.

Now Go Get Paid!

If you're eligible for an upgrade and decide to get the latest iPhone, which is currently the 5S, you'll probably pay around $200, depending on your carrier and upgrade fees. Well, take that new 5S over to MaxBack and sell it to them for around $325! That's $100+ in your pocket just for sticking with your carrier!

Hint: You could make even more by shopping your carrier's upgrades and looking for $0 down offers. Then shop it against MaxBack to get the most money back for your upgrade with no money down (small upgrade fees may apply). Genius, right?!

Make Money Selling Your Phone!