Best Buy Buyback Program Promotion

Best buy used their Super Bowl ad to pimp their new "Buy Back" program.  Buyback allows you to trade in your "ancient" 12-month-old tech for the latest and greatest, helping to reduce the sticker shock for those of us who like getting a new phone more often than the Carrier "encouraged" two-year upgrade cycle.

How much you get towards your new device depends on how long you've had it.

  • For the first six months you can get 50% of the retail cost
  • 6-12 months will give you 40% back
  • 12-18 months 30%
  • And if you can't wait another day, you can still get 20% between months 18 and 24.

For example, the Evo currently retails for $599.99.  If you buy it and opt for the buy back program, you can trade it in after 13 months and get $179.99 towards the retail cost of your next device.

Sure, you might be able to get more money if you sold it yourself on Craigslist, but this is a great option for those who don't want to go that route but still want to get something for our older device.

The service is typically an optional buy-in program, but for a limited time you can get it free with any qualifying electronics purchase.  If you're on the fence about upgrading because you don't want to "waste" your discount if something cool is just around the corner, the Buy Back program might be just what you were looking for.

 For more information, check out the official Best Buy Buyback page.

 

Reader comments

Best Buy 'Buy Back' program free for a limited time

34 Comments

Not to be the math Nazi but after 13 months you would only get 180 back. If you traded it in between 6-12 months you would get 240.

Dont shop at Best Buy. They have horrible customer service and hire morons. They are way overpriced. You can get TVs like $500-1000+ cheaper for same model online most times. This place needs to go out like Compusa and Circuit city.

I also dont see this program lasting to long.

I like buying phones, and only phones, from them though. I dont have to wait on some stupid rebate card from my carrier and I can usually get a better price on my phone from them.

Well, Verizon has a least gotten rid of their mail in rebate procedure for instant ones and I'm assuming other carriers will as well. If you order online then waiting on the rebates wasn't even ever a problem. If you like buying phones then signing the 1-year contract obviously makes more sense than a 2-year contract, which you cannot get at BB. You don't think it's a little silly you complain about waiting on rebates, but then suggest signing a long, cumbersome 2-year contract is more convenient? Sounds lazy and impatient to me, and if you actually think this buy-back program is a good deal then probably ignorant as well.

What are they doing, offering it for FREE for one week only? All the good phones are coming out AFTER the free offer, that's what.

Sadly "oOoBoNgOoO" you are completely mistaken, Buy Back is going to set us apart, Yesterday was the first free day, but the week before %72 of sold products had buyback with them, thats hard number not just something i pulled out of my a$$. This program will be around for awhile, its guaranteeing repeat business

Well first off I must say that Best Buy is one of the worst stores I have ever shopped at. I do not give them my business ever again since that stupid bitch was treating me like a criminal when I tried to return something there, every time though it seems like you are looked at like a criminal when you want to return something there.

This is just another gimmick program like how stores offer warranties. Then when you go to take it back they give you crap about it. They just want to make more money and people probably will forget about it and not use it. Just another way for stores to profit. They probably charge you like $40 for a $200 phone after 2 year agreement.

Sure your numbers are high. You force your cashiers and customer service people to shove it down people's throats all day long. When you tell people are its free, then of course they will go along with it. Good luck when you start charging people for it.

The Buy Back program is a one time fee. Since Best Buy is giving it away for free you dont have to pay a dime for it, ever.

I don't seem to understand. So it's free for a limited time. Okay. But what happens after that?, Do we have to pay for the service? Make a purchase? I'm missing something here. Please enlighten me.

You are going to have to "purchase" the buy back program for your device after they stop making the program free. How much is it going to cost you on top of your device cost? ...no idea... I haven't seen any guesses yet.

On the mobile side of things, I think this is just a ploy to try to get you to buy a new phone at full retail price before your 2 year contract is up; however, if you are one of those people that actually keeps a smartphone for 2 years, the $119ish (for a $199/$599 smartphone) BB gift card you'll get upon trading it in and renewing your contract would be worth it... depending on how much the program costs (when they stop making it free).

I'm cool with trading in the old device, but paying them to get money back is the most assinine thing I've ever heard.

Isn't this the same concept as Verizon's NEW EVERY TWO program? Except its prorated based on age of your device. If so, I guess it's better than nothing, no?

This may work for phones, but not TVs or anything else.
While it's free, sure why not...it's free!

This is just a prepaid ripoff!!
(wish I could take credit for that, saw it on another site)

Amazon essentially has a program like this if you go to Greenearthexchange.com (http://greenearthexchange.com/online/home/index.rails). They will give you a Amazon gift card for your trade in and then obviously you can use Amazon to buy a new phone or anything else for that matter. At least compared to Best buys previous trade in program for phones the green earth exchange gives you much more credit and also doesn't have as many criteria to meet before making a trade in. Shipping is also pre-paid. Using the Evo as an example again, they will give you $223 gift card to use on Amazon If if your phone is "like new" ($189 for "good", etc.). The only thing that could make the best buy deal better is if they don't care about the condition of the phone, but that's a fat chance. Their old trade in program was very picky about condition, accessories, boxes, manuals, etc. Oh, and it's always a free "program". I can't believe BB is going to charge for this at some point.

Was reading the FAQ on the page linked in the article. It states that the BuyBack price you get is based off of the retail price of the phone, even if you bought the phone at a discounted price with a contract. So essentially, this week you can get the program for free, and you could potentially start a new 2 year contract to get a free phone, then sell that phone back and technically be making a profit on the phone.

That seems to be a pretty sweet deal for anyone who's currently in a position to start a new 2 year contract. Tempting to me, but I'm in the middle of a contract with Verizon and just can't justify it.

The percentage comes off of the original purchase price. You would get $100 back in 6 months if you bought the Evo today (Better make sure there is something you want at BB in 6 months and for a good price). You'll be in a two year contract so you would have to pay full price for the new phone you would want, probably $500/$600. Do the math. Smartest deal I can think of is signing the 1-year contract with Verizon for $279 then selling your phone on Ebay, craigslist, or using that greenearthexchange.com getting $200+ 10 months later and then signing a new 1- year contract. Rinse repeat until they find a way to botch 1-year contracts like they did 2-year plans.

The quote below is directly from Best Buy's FAQ. I would post the direct link to said FAQ, but AC's spam filter is a Nazi.

"The Buy Back Program for post paid mobile phones is based on the full retail price of the phone, not the discounted price of the phone. Your phone is typically discounted in price when you renew or sign up for a new contract. If the retail (non-contract) price is $600, your buy back value would be based on that amount, even if you purchased the phone for a lower price if the phone price was subsidized by the carrier."

"If the retail (non-contract) price is $600, your buy back value would be based on that amount, even if you purchased the phone for a lower price if the phone price was subsidized by the carrier."

Between months 20 and 24 when you can upgrade and redeem the buyback, you get $120 back on a $600 phone, even if it was free to begin with like the droid incredible was.

It is confusing, and the easier option is http://www.gazelle.com/ They offer to buy back your gadgets for more than 20 product categories, anytime, from anywhere, and always free! Best Buy is just trying to trick more people into giving them money. Why not provide real value people want to pay for?!

You want to share where you are getting this info from?

"Best Buy® Buy Back Program available in U.S. stores & online, excludes Puerto Rico. Prices vary on Buy Back plans. Some limitations apply. Refer to terms & conditions for complete description of Program. Get up to 50% of ORIGINAL PURCHASE PRICE on a Best Buy gift card when you return your TV, laptop, netbook, tablet or post-paid mobile phone in good condition with all accessories within 6 months of effective date. Effective date starts 31 days after purchase. Excludes Desktop computers & TVs $5,000.00 & up. Free offer effective 2/6-2/12/11."

It depends on which phone you purchase. The two tiers are "high" (most higher end devices>$350) and "low." For the high phones buy back can be added on at the time of purchase and is $60 BUT if you get it in conjunction with the protection plan, it's only $30.

There's no catch for it being free right now, you don't have to pay anything for it later. Just hopefully you will bring your phone back to BBY when you are going to upgrade/buy a new phone outright. It's good because you're guaranteed money and it's value isn't going to decline based on market value when you sell it back.

On phones you get the percentage the RETAIL value of the phone (not the price you paid for it). If you bought a free phone how does it make sense to get 50% of the value of free? So if you purchased an Evo you would get whatever percent off of the $599 retail price that corresponds to the month you are selling it back.

How does it make sense that you would get a phone free and then 6 months later BB will give you $300? Have you guys shopped at BB in the last 10 years? They have more ways to rip off a customer than anyone else. There is a reason BB's profits are going downward, but it's not because they are just giving away money. It's because they don't actually have any deals.

It makes sense because they are buying back the product. They're not just giving you $300 for the hell of it.

Sounds nice but it's not applicable in Puerto Rico so I'm out, and Sprint's own buy back program pays roughly the same after 12 months... Here's to hoping Sprint actually launches a proper EVO successor before the end of the year.