Buy Back Program from Best Buy Deals with Buyer's Remorse

Buy Back Program from Best Buy Deals with Buyer's Remorse

Summary: Best Buy has launched a program to help with buyer's remorse, the Buy Back program that gives on-the-spot rebates when you trade in a gadget for the next big thing.

SHARE:
20

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.

Topics: Laptops, Hardware, Tablets

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

20 comments
Log in or register to join the discussion
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    Subscription services have come to hardware.
    7mgte
  • interesting but not for me

    I'm not going to blow $$$ every time a product has a minor upgrade.
    Linux Geek
  • This sounds like more a revenue generator

    I'm sure by now we all know that such programs are more about another source of revenue generation than about altruistic concern for customers. 10% rebate? That would be about the same as buying your next TV when it was on sale. Better yet wait for a little until the pricing comes down after the glitz & glamor of a new product hits the market.
    AJColes
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    If I pay $2500 today for 60" 3D TV, I think it'll be worth more than 10% or $250 after 24 mo (2 yrs). Unless it doesn't matter if the TV (or whatever item) is in working condition or not...that would make the program golden.

    Next month, BestBuy will be announcing that the sales of their "refurbished" items have made a huge increase in profits.

    If you want to replace something so quickly, you'd probably be better off taking your electronics to a descent pawn shop.
    jlt0x
    • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

      @jlt0x The 250 becomes 180 with the 70$ buy-in cost... Which is even worse.
      snoop0x7b
      • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

        @snoop0x7b
        And it isn't 10% of what you originally paid, more like the 60" 3D TV you'll buy in 2 yrs for 1200 minus the 70 equals $50.
        The plus will be then you take your $30 MP3 player plus 70 making it 100 and return in a week because the New $1400 42" LED 3D Samsung with internet for Pandora and Netflix nets you a $10 dollar profit.
        dbisse@...
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    In the end it makes BB more richer. clever scheme BB. As an investor I feel good, but as a consumer I feel screwed.
    Ram U
  • Benefit Best Buy

    People will be stupid and think their getting a bargain. But I will bet the rebates will not be very big and it is just a ploy to keep you buying at Best Buy. Apple uses its marketing ploy similarly. It touts improved performance of new products versus old to get you to think your old generation model is junk. People need to realize that improvements are incramental anymore and don't get suckered into frequent upgrades.
    jscott418-22447200638980614791982928182376
    • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

      @jscott418 : Agree. You don't have to buy the latest and greatest if you aren't going to use the new features. I build a new system every 4 years [with some minor add-ons]. But when I build a system, it has the features that will still be good for at least 4 years to come. I waited until last month to add a blu-ray drive because a year ago they were pricey.

      Remember the old Office phrase: 80% of the people use 20% of the features. 20% of the people use 80% of the features. Those 80% don't need Office 2010 and can stick with Office 2007 [or 2003].
      Gis Bun
  • Sell it to a friend and there are two winners

    Chances are you have a buddy that really wants your gadget and would be happy to get it for half of what you paid. If not, donate it to charity and if you're in the 30%+ tax bracket you've tripled your "rewards".
    Anyone want to sell me their GPS of $15 or a Bose Dock for my ipod for $35. An Ipod touch for $20? Contact me here. PS I'll buy all I can get my hands on.
    jcurran516
  • A fool and his money and all that . . .

    Why would I pay $70 for a service I can get for free from sites that buy back used electronics (e.g., gazelle.com)?

    (disclaimer: gazelle.com is one of my clients)
    gkdubs
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    It's the same model that GameStop stores have been doing for the past 15+ years. Buy product "X" at $60, trade-in a month later for $20, or a year later for 75 cents.
    The article should be called "Dealing with Seller's Remorse," because after giving away something for pennies on the dollar, you will feel ashamed and taken advantage of!
    jmwells21
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    Two words: craigs list.
    stephen@...
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    The area where this might be worthwhile is smartphones. With Verizon changing their upgrade program again, it might be worth it to buy through BB.
    Kalnel
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    This is a ripoff in the same way that extended warranties are a ripoff... If you buy a 1000$ computer, then 2 years later return it for a new one, you get 100$ back, but spent 69.99 to purchase the trade in protection... So you end up netting 30$. <br><br>Yeah... Just don't bother.

    Plus, I could just sell the product on Ebay or craigslist for more than bestbuy's gonna give me anyhow.
    snoop0x7b
    • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

      @snoop0x7b : That's assuming someone wants a 2 year old iPod [one or 2 generations old and knowing that the battery can't be replaced (at least not easily)].
      Gis Bun
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    I can this being great for the Apple fanbois and fangurls. Think of it. A new gadget comes out just as your current gadget's battery is dying [because you can't replace it] and you get money for the nearly dead over-priced and over-hyped gadget? How perfect is that!

    [Oh yes. I'm not an Apple fan but you can substitute your favorite brand and removed the over-priced, over-hyped, fanbois and fangurls phrases above - if you wish.]
    Gis Bun
    • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

      @Gis Bun You state that you are not an Apple fan and while that's true it's not very accurate. You are obviously a small minded hater that apparently has battery issues. Haters are no better than fanbois or gurls no matter what side of the debate you are on.
      non-biased
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    There shouldn't a fee with the program. The item is already marked up 2,3,hundred percent retail. The remorse come from a mountain of returns history due to multi-reasons bring backs. Maybe the non-fee could have a 3 year shelf-life.
    REPZ08
  • RE: Buy Back Program from Best Buy Deals with Buyer's Remorse

    I want to know where they are going to be selling this traded in gear :-)
    non-biased