I got $275 for a Pixel 3 XL that I dropped into water and therefore can only charge wirelessly (the charge port stopped working when I got it out of the water).
They asked if my phone can turn on, if the display is damaged, and if I can factory reset. I outlined that, yes, the phone turns on, the screen is free of defects/damage, and I can factory reset.
I got my Pixel 7 Pro and waited. A few weeks later, I got my “trade in kit” which consists of a box, a prepaid return label, a small padded envelop and extra tape/stickers. Out of an overabundance of caution based on trade-in horror stories, I recorded a video documenting my phone’s condition and how I packaged it up. Then I dropped it off at the post office.
It took about a week to get from my place to a facility in Nashville, TN. And for like two weeks, its status was unchanged. Just “going through the network.” Then one day, I got an email saying my trade-in has been accepted, the phone matches my description and I will get $275 back on the card that I bought my P7P with.
Apparently, the trade-in people just pick up the phones in bulk from the USPS, hence the package doesn’t really get “scanned” by USPS and is stuck in “going through the network to your final destination” purgatory.
Besides the crazy amount of time waiting for the trade-in kit and for the phone to be accepted, my process was just fine. I’ve done a similar trade-in for like, my Nexus 6P, I think. But there are also insane stories of phones either just being lost in transit (hence my unease/panic when the status went unchanged for so long), or people being informed that Google disagrees with the trade-in. I’m pretty sure I checked “send the phone back if there is a dispute” but the horror stories have indicated that isn’t a guarantee either.
So my experience was just fine, but there’s enough “yikes” stories in reddit and the like to put a big ol’YMMV.