When you get a new cell phone, the old one usually gets tossed in a drawer to collect dust. Now, there are ways to ring in cash by selling your cell phone to companies. James Mosieur with cellforcash.com says, "Cellforcash.com is a website where consumers and businesses can get value out of their old cell phones if they're not using it." Cellforcash.com buys thousands of used cell phones a month and pays consumers cold, hard cash for them.

Mosieur says, "There are phones out there that have a lower value, $3, $ 4, $5, $10, but there are ones that go as high as $200."

How do you get dollars for phones you no longer dial? Simple. Log onto cellforcash.com, find your model, then cellforcash takes it from there. Mosieur says, "We send the box with a prepaid label. They drop the cell phone in the box. The box comes back to us, we test it, verify to make sure it is what they said it was and 30 days later we send them a check."

For example, cellforcash.com will pay you just under $100 for the Nokia 6620.

Ed Kissell's Boca Raton company, Mobilsource, also buys unwanted cell phones that still work. He says there are a number of ways he can save consumers money. "A kid will lose a phone and the parents will say this is the second time, or maybe it fell in the pool or whatever, they don't want to spend a lot of money. So they come in here and we will sell them a phone for $30, $40 or $50 and the parents are very happy about that."

And because Kissell buys barely used phones from the phone companies and other businesses. He can also upgrade you to the latest technology at a deep discount. "And what I can do in turn is offer them almost a brand new phone for a lot less money than the price of a new phone and you wouldn't know the difference."

Also, for a small flat fee, these companies will reprogram your phone to work on any cellular network.

So, what else do both of those companies do with those pre-owned mobile phones they buy? Many of them get a new ring on life in other countries, particularly in Latin America.