Are you one of those Apple (Stock Quote: AAPL) fanatics who feels the need to upgrade every time Apple releases a new iPod? If so, you’re in luck!

Starting this Sunday, Oct. 17, Toys R Us will offer store credit toward a new iPod or iPod Touch to customers who trade in their old iPods. The store will assess your iPod and offer you up to $100 for each one you trade in; customers can trade in up to three iPods, for a maximum store credit of $300.

Of course, not every iPod is going to fetch the full $100, so don’t think you can bring in your old first-generation iPod with the cracked glass and get back a Benjamin. If, on the other hand, you bought a second-generation 32GB iPod Touch just before Apple announced the third-generation model and you want to trade up, you’ll probably have better luck.

Toys ‘R’ Us isn’t the only store where you can trade in your old iPod. At, for instance, you can get cash for old iPods and other electronic equipment like GPS units and video game consoles, with compensation determined by the model and condition. Best Buy also allows trade-ins for a variety of electronic equipment, both in-store and online.

If you think you’ll get the most value at Toys ‘R’ Us, though, act fast – the promotion only runs through Saturday, Oct. 23. And make sure you call before you bring in your iPod, as not every store is participating.

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