Best Buy’s “Buyback” Program

By | February 20, 2011
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Best Buy’s “Buyback” Program
Buyer Beware!!!

At first glance, Best Buy’s “buyback” program looks like it might be a really good deal, but upon closer look, BUYER BEWARE! At least, that is our opinion after looking carefully into the program.

It looks simple enough (this was taken from Best Buy’s own description):

  1. Purchase the Buy Back Program along with your new product.
  2. Bring the product back in good, working condition with all originally included accessories when you’re ready for something new.
  3. Receive a Best Buy® gift card for the product’s redemption value
Let’s see what all this really means! First, and the most important thing to consider is, you pay extra to get this “buyback” program, and its only good for a period of up to two years*. Let’s get real.. how many of us quit using our TV, DVD, Laptop or Netbook after less then two years? Most are in extremely good working condition for much longer then this! How about less then one year or six months? Most products would still be under warranty! Here is the big buyback you get if you return the product, with ALL accessories, and in good working condition with “normal” wear and tear:

Up to 6 months get gift card for 50% of purchase
6-12 months get gift card for 40% of purchase
12-18 months get gift card for 30% of purchase
18-24 months get gift card for 20% of purchase

It gets even worse. Let’s talk dollars. If you pay $600 for a laptop, after one year, you will get a whooping $180 for it, as a gift card, not as cash. We have had a few laptops during the past 16 years of computing, and we can say that after a year every laptop we have owned is still like brand new.

Let’s go a little deeper.. you have to PAY for the buyback program, so even if you got $180 back after a year, since you paid $69.99 for the ability to do the buyback, you will only be ahead by $111! Let’s see.. you pay $600 for a laptop and a year later Bestbuy will give you $111 for that same nice practically new one year old laptop! Who comes out ahead here? Do the math.

Here’s a rundown of the prices for the Buy Back Program, as of Feb. 14, 2011:
PRODUCT PRODUCT PRICE BUY BACK PROGRAM PRICE
Laptops and Netbooks ALL $69.99
Tablets ALL $69.99
Mobile Phones $349.99 or less $39.99
Mobile Phones $350 and more $59.99
TVs $499.99 or less $59.99
TVs $500-$1,199.99 $99.99
TVs $1,200-$2,499.99 $179.99
TVs $2,500-$4,999.99 $299.99

Something else that you need to know:  They only do the buy back if they feel it is in good condition by their standards, and this includes “normal wear and tear”… what the heck is normal wear and tear? Well, I guess it depends on what side of the counter you are on.  If the product is not up to the standard expected by Best Buy, your buy back can be reduced by 50%, or even rejected. So, if you have a few scratches on that nice, new, one year old notebook, you might get marked off 50%.. so now your buy back on the one year old laptop is a whooping $55!

Oh, by the way.. if you want to use Cloudeight’s buyback program.. we won’t even charge you up front!  If you want a $111 Best Buy gift card in exchange for the $600 laptop you purchased a year ago.. we will make the trade for you!  It must be in very good condition.. no scratches!!!  Ebay… here we come!!!  (Just kidding)

*You can use it for up to four years on TVS, but year 3 and 4 only gets you 10%.

3 thoughts on “Best Buy’s “Buyback” Program

  1. Muriel

    Another Scam initiated by our “honorable?” retailers. This one should be listed in “Scambusters” database. Does anyone know of a website devoted to scams that don’t come through emails?
    Perhaps at the Attorney General’s website?

    Reply
  2. Kai Rasmussen

    I agree, what a rip off, I can believe an established business as Best Buy would come up with such a scam, shame on them.

    Reply

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