Best Buy's Buyback Program Isn't Such a Great Buy After All 
Home Theater News Industry-Trade News
Written by Dick Ward   
Wednesday, 09 February 2011

The folks at Best Buy have been plugging a new program that promises to get you some money back when you trade in your old electronics for new ones.  It might seem like a pretty good deal at first, but taking a closer look reveals some significant flaws in the plan.

The folks over at HD Guru studied the contracts, broke the  program down bit by bit and have come to the conclusion that Best Buy's buyback program could actually end up costing you money instead of saving it.

In the worst case scenario, you'll end up losing as much as $225 when you trade in your old electronics.  Why?  Because the buyback program is something you actually have to buy into. If you pick up a $3,000 television you'll have to shell out $350 to be a part of the program.  That means that you'd better be planning to trade in your TV within the next year  and a half or you could end up getting less back than you paid in the first place.
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Jack Smythe   |2011-02-13 09:18:46
Bet Buy's buyback and electronic recycle programs are a major ripoff. Only the
Best Buy corporation benefits from such a program. Any person thinking about
getting rid of their electronics (especially new stuff) will do MUCH BETTER by
selling their stuff through eBay, or therough classified ads, or even through a
garage sale. Even donating your stuff will earn you a tax deduction that exceeds
the "trash" buy back prices BestBuy gives you. Best Buy offers are
analogous to the "We Buy Gold" offers. They are a pure ripoff.
rob   |2011-02-15 12:39:21
It's funny how the example you use was the minimum price point for the $350
plan for buy back. You do that so readers agree that its a rip off. You fail to
mention the 350 plan is for t.v.'s 3000-5000. That being said if a consumer buys
the plan and a premium tv for $5,000 and waits for 4 years ( which gets the
consumer the least amount) they would get $500 dollars back, still profiting.
The plan is not for everyone, its for those who want the latest and greatest and
would like to have some credit towards their new product. If its not for you
don't buy into it. But don't let journalist tell you what's a good deal or not
without you finding the facts and weighing your options first.
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