Can I return my iPad2 for the new iPad

My parents bought me the new ipad2 in January and they also pay for the one year guarantee. The iPad 2 is brand new in good condition. Now, can I return my ipad2 for the new iPad without paying?

No, unless the store you bought it from has a very generous return policy - the Apple Store official policy is 14 days. The one year warranty is on defects in the product, not for upgrading. You can sell your iPad and use the funds to buy a new one, but you will likely sell for less than you paid.

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