Consumers often face a dilemma with electronic purchases, knowing that the great piece of gear they are purchasing today will be old hat when the next version comes along. Best Buy has launched a program to help with the problem, the Buy Back program that gives on-the-spot rebates when you trade in a gadget for the next big thing.
The Buy Back program becomes available this month in both brick-and-mortar Best Buy stores and online, and covers the segments of consumer electronics most impacted by buyer's remorse: laptops, netbooks, tablets, post-paid mobile phones and televisions. Customers buying a product in one of these categories are offered the Buy Back option for a fee at the original purchase time. The cost of the protection depends on the product category, with laptop/notebook/netbook protection priced at $69.99.
Purchasers of the Buy Back protection can exchange a covered product for a newer model up to 24 months later, and get rebates on a sliding scale for the new product based on the time with the original gadget. The rebates range from "up to" 50 percent within 6 months, to 10 percent in 24 months. Some TVs can be exchanged as long as 48 months after purchase for a 10 percent rebate.
What makes this program unique is the rebates are immediately available at the time of exchange. The Buy Back exchange payment can be applied to the new purchase, eliminating the hassle of dealing with rebates.