Apple has finally launched its iPhone trade-in program for U.K. consumers, who can now trade in their old iPhone, iPad and Macbook devices and use the credit toward the purchase of new Apple products.

Apple has introduced the iPhone trade-in program six weeks after it was launched in the U.S. The trade-in program was released much ahead of the iPhone 5S and 5C release but saw favorable response after the devices hit the market. Apple's iPhone 5S hit a record 9 million sales in the opening weekend. But consumers outside the U.S. did not have the option to trade-in their old phones and upgrade to the newer model, until now.

The popular iPhone trade-in program has gone live in the United Kingdom as of Monday, October 14. The iPhone 5S and 5C have been available in the country for some time now but those who were waiting to trade in their old Apple device before upgrading for the newest one, here is your chance.

The Apple U.K. website lists the "Reuse and Recycling Programme," which allows customers to trade in their iPhone, iPad and computer and get the best exchange value based on the condition of the device.

The website gives users a chance to describe the condition of their device, be it an iPhone, iPad or Macbook. Based on the information you have provided, Apple will give an estimated trade in value for the device and on further inspection the exact value of the device will be credited directly to your associated bank account. The credit can be used to purchase a brand new Apple product, an iPhone 5S/5C, iPod, Mac or iPad. Customers can also walk into an Apple Store and avail the offer and apply the credit instantly toward the purchase of a new Apple device.

We went ahead and tried the iPhone trade-in program to get an estimate for a used iPhone 4S 32GB white color unlocked version. We chose a functional iPhone device considering the common case scenario and chose the device's condition as undamaged (it's perfect). We chose the option that said iPhone back cover had some scratches. Finally, the estimate value provided by Dataserv was GBP 48.00 ($76.68).

The credit value varies depending on the condition of the device and its accessories. If you have an iPhone 5, the value automatically goes up and similarly goes down if it's a lower model.

If you think the Apple trade-in program offers you the best value and tempts you enough to upgrade to a new iPhone model, then what are you waiting for?