GAINESVILLE - Now with a larger screen, more battery life, three mics and a new power cord among other changes.

The new iPhone 5 is nothing out of this world but it does mean one thing: Your current iPhone is outdated. This however doesn't mean it's not worth anything.

Laser keyboard? Holographic display? Mind reading? Talking about the iPhone 5 and its features were all rumors until now, when apple released their concept for the latest member of the iPhone family during an announcement in San Francisco.

Some people like, Kaetlyn Flaherty couldn't bear the anticipation. "And like, I feel like I've been waiting for the 5 for so long and like I tried so hard to hold for the 5 and I cannot."

And others like Isabel Penabab, cant wait to to sell their old phone for the new one.

"I am stuck in like the stone age of the 3G, so everyone makes fun of me and I am going to show them all with my iPhone 5 when I get one," she says.

Penabab says she's looking for someone to buy back her phone, in order to make some cash for the 5.
   

Local businesses like Re-Tech do just that.

Representatives from Re-Tech say the price you get for your old iphone depends on the model, the service provider and the color.

For example, white iPhones are sold for more. Anthony Francois is one of those representatives.

"If you're looking at an AT&T 4 it's probably going to be $230 cash max," Francois said. "But if you're looking at a 4S it's like $300 cash. So it's $70 more."

But you don't have to go to a store, websites like Glyde and Gazelle send you a kit through the mail in which you don't have to pay for shipping to sell your phone back.

The prices listed there are similar to what Re-Tech offers.

On Craigslist you name your price which may lead you to make more money but the transaction isn't done through a security protected account such as Paypal.

As for Penabab, she says she's putting her phone out for sale as soon as possible.

"I just can't wait to show people that I am not living in the past, Isabelle 2.0," she said.

Selling your old phone to Amazon is another option. You can expect the iPhone 5 to be in stores on Sept. 21, but before you get rid of your old one online or through a local business, don't forget to remove all of your personal data and remove the sim card as well.