If there is a Cash for Clunkers program, then surely there will be one made for the iPhone. And on that note, CashforiPhones.com is offering a practically similar deal, offering cash of up to $300 for used 2G or 3G iPhones which are in good condition or not.

Yes you heard it right. They are also buying broken iPhones for the same amount, a deal that other companies are surely going to find difficult equaling. The amount gotten from this exchange would be great for consumers in buying a new iPhone 3GS in the market.

Unlike other companies, CashforiPhones provides the pre-paid, insured shipping box and packing materials. Once the seller receives a quote at www.CashforiPhones.com, he or she can receive a check or even an instant Paypal deposit.

What happens to the traded-in phones? CashforiPhones refurbishes them and recycles them. They erase the existing memory (if it is working) and then refurbished for re-sale to wholesale recyclers.

(Source) Press