If rumors are true, Apple is days away from announcing the release of it’s predecessor to the iPhone 4S. It can hurt the pocket when you shell out the money to buy a new iPhone, but Apple has come up with a solution that might help you out. Apple has offered to buy up your old device for up to $345, depending on its condition.

Go to Apple’s Reuse and Recycle program and select your model number, color and condition of your iPhone 4S from the online wizard. It will then give you an estimated price on how much you will back for it.

If you agree and like the terms, Apple will send you a gift certificate to use towards a new device in the Apple store.

As you’d expect, it all depends on the condition of the device. If you have any scratches or dents, then of course you will not get as much as if you had an iPhone in better condition.

There are other 3rd party services available that might give you greater cash value for your devices, but going through Apple ensures that you will use that money specifically in the Apple store and not run and spend it on something else.

Reports say the new iPhone will be announced on September 12th. Hopefully you won’t be waiting too much longer to get your hands on Apple’s new iPhone.