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Last year, when I traded in an old K2, I got the $5 for the device and the 20% credit on a new Kindle immediately upon submission of the deal, before the old K2 was shipped to them.
However, I know from being around since 2009 that not everyone gets their money or the credit immediately. Some users have to wait until their trade in device is accepted and approved by Amazon.
Also, details aren't always the same on the Trade In deals. Sometimes the device traded in is accepted regardless of condition, and sometimes it must be in working condition.
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