Best Buy - Buy Back

lordopus99

lordopus99

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Best Buy will be airing a commercial during the third quarter of the Super Bowl describing a new program.

According to the email sent by Best Buy Reward Zone...
"Buy Back is essentially "Future Proofing" your technology. You purchase the technology you want today, and we'll buy it back at a set price when you're ready to upgrade to something new. You'll know upfront what your gear will be worth, and you can conveniently redeem you Buy Back at our stores and immediately receive a Best Buy Gift Card."

Discuss.

It seems an interesting concept. I wonder how it truly be executed. I am assuming they will have a set timeline in order to get that "set price."
 
If it's anything like the trade-in program outlined on their website now, I believe you need a receipt showing you bought it FROM Best Buy to even trade it into them. So if you're a normal shnook customer who likes paying $50-100 for an HDMI cable and paying $200-400 more than it's worth for a tv, then this program is for you.;)

Otherwise be prepared to have them deny trades left and right once they start this program up. Hopefully though this program will start up in-store as well and many stores will forget to ask for receipts showing the purchase from BB like the game trade program has seen.

EDIT: Alright. Apparently they've changed the terms of the program, as they have the same block of text for stuff both purchased from BB and not on the page now.

http://www.bestbuytradein.com/bb/

Products purchased at Best Buy

Video games, iPods, Zunes, laptops, and mobile phones can be taken to any Best Buy Store where, if you don't have your receipt, we will do our best to retrieve it for you and complete the trade-in, or you can use our online program.
Products not purchased from Best Buy

Video games can be traded-in at almost any Best Buy store or online at www.BestBuytradein.com, assuming the video game meets program requirements. Mobile phones, iPods. Zunes, and laptops can be taken to many Best Buy stores for immediate trade-in, subject to program rules and restrictions. To find a store near you that can receive an item for trade-in without a receipt, click the Find Store button below.

Our online program allows you to trade-in more than 20 different products (see list at left) by mail and receive a Best Buy gift card (or check for a lesser value) in approximately two to three weeks.



1Qualifying products include video games, iPods and Zunes, laptop computers and mobile phones, and may vary over time. To find an estimate of the amount we might offer, go to www.bestbuy.com/tradein. All items must be in good working condition. Condition, documentation and accessories included can affect the value offered. The amount we actually pay you upon trade-in will depend on our evaluation of a number of factors, such as condition, product's age, product's specifications, etc.; the amount we offer you may vary significantly from the estimate found on the web site. You are responsible for removing any data from your device before providing the product back to us. You will be required to sign an agreement in store. For complete details, go to the web site, see a Customer Service Specialist or visit the Geek Squad precinct within your local store. We reserve the right to refuse any trade-in for any reason.
Click to expand...
 
So does this mean they will tell you, and perhaps even guarantee, what they will buy it back for when you initially purchase it. If not, wouldn't this just be a fancy term for a trade in that they actually already do. Knowing up front could mean a few things. It could just mean they have a fluctuating set buy back price that they publish that everyone gets at that given time without the need to negotiate or haggle. In that sense, up front would just mean you don't have to bring in your product or call to get a price quote. I am not sure they really mean knowing up front at the time of your original purchase. The vagueness of the email combined with how Best Buy typically operates, makes me wonder how good a program this will actually be.
 
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yeah, I'm not sure about this program. I mean, shit breaks within 2 years no matter what nowadays, so this almost goes hand-in-hand with their crappy 'warranty' program. These things tend to be more of a hassle. I always believe that if you're getting near 25% of the cost of your product, its just not worth it for those warranties. I'm sure this program will be 10-15% of the cost of the product. Their being really vague about what the price will be or any structure whatsoever. And what if your product just stops working??

I really doubt this will catch on...I for one know I will never use it b/c if my 46" LCD truly becomes a doorstop, its getting a baseball to it, not a trip back to the store..
 
Theres a page on the website detailing it now:

http://www.bestbuy.com/site/Misc/Buy-Back-Program/pcmcat230000050010.c?id=pcmcat230000050010

Apparently you have to "purchase" the buy back program at the time you buy your item. You get 50 percent back within 6 months, 40 percent 6-12 months out, 30 percent 12-18 months, 20 percent 18-24 months and 10 percent 24-48 months(the 24-48 month buy back only applies to TVs). Most electronics last at least 2 years, and apparently you only get 10-20 percent back in that time frame...those values sound horrible. Some products are worth way more the 20 percent at 2 years, especially an iphone for example...and it sounds like you have to actually pay for the buy back program at the time of purchase to get that value....from the fine print: "Buy Back plans are available at a variety of prices. Televisions $5,000.00 and up are ineligible." For mobile phones, I believe the buy back price is based on full retail and not the out the door subsidized price. But you can only use the program on phones that are under contract, I'm pretty sure most, if not all contracts are 2 years, so to take advantage of this I think you might end up having to buy the second phone unsubsidized by your carrier.

Included items seem to be: TVs, Laptops, Tablets & Mobile Phones

The value is also dependent on condition, that is determines by Best Buy in '"it's sole discretion":

  • (a) GOOD or FAIR. The Device is fully functional with no technical problems, with only a few scratches due to normal use. If CWG grades, in its sole discretion, the condition of the Device as Good or Fair, no adjustment will be made to the Buy Back Amount.
  • (b) POOR. The Device has one or more of the following issues: 1. The Device has sustained minor functional damage or product failure that can be easily repaired; 2. The Device has more than normal visible wear and tear, including, but not limited to, cracks, dents, scratches, dirt and user-added stickers. If CWG grades, in its sole discretion, the condition of the Device as Poor, the Buy Back Amount will be adjusted down by 50%.
  • (c) SUBSTANTIALLY IMPAIRED. The Device has one or more of the following issues: 1. The Device has functional damage or product failure that affects its ability to perform its function or impairs its use and cannot be easily repaired; 2. The Device has been recalled by its manufacturer and has not been repaired or replaced prior to sending it to CWG; 3. The Device has water damage or damage from bodily fluids; 4. The Device shows indications of a serial number modification; 5. The Device has insect/rodent infestation, damage. All damage described above must be repaired either under manufacturer warranty or service plan, or at your own cost, before providing the Device to CWG. The Device will not be accepted in Substantially Impaired condition and CWG will retain the Plan Fee you paid. If the Device is considered to be Substantially Impaired, the Device will be considered a Rejected Device as provided in Paragraph 11.
 
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I'm glad I read this, because I heard about the recent trade in program with games and was interested in doing it. If you have to have a receipt from their store saying you got the game there, then I guess I'm out of luck. I do like this new idea though. Especially for early adaptors, if they offer a good enough set price, it might be worth it to buy and try the newest tech items when they come out.
 
[quote name='caltab']Theres a page on the website detailing it now:

http://www.bestbuy.com/site/Misc/Buy-Back-Program/pcmcat230000050010.c?id=pcmcat230000050010

Apparently you have to "purchase" the buy back program at the time you buy your item. You get 50 percent back with 6 months, 40 percent 6-12 months out, 30 percent 12-18 months, 20 percent 18-24 months and 10 percent 24-48 months(the 24-48 month buy back only applies to TVs). Most electronics last at least 2 years, and apparently you only get 10-20 percent back in that time frame...those values sound horrible. Some products are worth way more the 20 percent at 2 years, especially an iphone for example...and it sounds like you have to actually pay for the buy back program at the time of purchase to get that value....from the fine print: "Buy Back plans are available at a variety of prices. Televisions $5,000.00 and up are ineligible."

The value is also dependent on condition, that is determines by Best Buy in '"it's sole discretion":

  • (a) GOOD or FAIR. The Device is fully functional with no technical problems, with only a few scratches due to normal use. If CWG grades, in its sole discretion, the condition of the Device as Good or Fair, no adjustment will be made to the Buy Back Amount.
  • (b) POOR. The Device has one or more of the following issues: 1. The Device has sustained minor functional damage or product failure that can be easily repaired; 2. The Device has more than normal visible wear and tear, including, but not limited to, cracks, dents, scratches, dirt and user-added stickers. If CWG grades, in its sole discretion, the condition of the Device as Poor, the Buy Back Amount will be adjusted down by 50%.
  • (c) SUBSTANTIALLY IMPAIRED. The Device has one or more of the following issues: 1. The Device has functional damage or product failure that affects its ability to perform its function or impairs its use and cannot be easily repaired; 2. The Device has been recalled by its manufacturer and has not been repaired or replaced prior to sending it to CWG; 3. The Device has water damage or damage from bodily fluids; 4. The Device shows indications of a serial number modification; 5. The Device has insect/rodent infestation, damage. All damage described above must be repaired either under manufacturer warranty or service plan, or at your own cost, before providing the Device to CWG. The Device will not be accepted in Substantially Impaired condition and CWG will retain the Plan Fee you paid. If the Device is considered to be Substantially Impaired, the Device will be considered a Rejected Device as provided in Paragraph 11.
[/QUOTE]

On second thought, buying the buy back program sounds awful!
 
[quote name='kburns10']I'm glad I read this, because I heard about the recent trade in program with games and was interested in doing it. If you have to have a receipt from their store saying you got the game there, then I guess I'm out of luck. I do like this new idea though. Especially for early adaptors, if they offer a good enough set price, it might be worth it to buy and try the newest tech items when they come out.[/QUOTE]

Video games are not part of this, Im pretty sure you dont need to buy your game at best buy to trade it in, and the values are more based on what the used market demands. This program is for TVs, Laptops, Tablets and Mobile Phones.
 
[quote name='IAmTheCheapestGamer']If it's anything like the trade-in program outlined on their website now, I believe you need a receipt showing you bought it FROM Best Buy to even trade it into them.[/QUOTE]

Sorry I thought this was referring to the current trade in deals which allow you to trade in video games. I understand the current one you are referring to is for laptops, phones, etc., and the idea sounds great in theory, but I don't like the idea of having to "buy" the buy back beforehand. Especially if you are going to get less in the long run for it. Sorta reminds me of buying insurance in Blackjack, yet the house is always favored.
 
[quote name='kburns10']I'm glad I read this, because I heard about the recent trade in program with games and was interested in doing it. If you have to have a receipt from their store saying you got the game there, then I guess I'm out of luck. I do like this new idea though. Especially for early adaptors, if they offer a good enough set price, it might be worth it to buy and try the newest tech items when they come out.[/QUOTE]
The terms and conditions of the game trade program vary based upon the laws that apply in your jurisdiction. So if they consider this program to be like a pawn shop and the law in your area requires giving a thumb print or other personally identifying information on top of showing a government issued ID, then you'd have to do it in order to trade in there.

If they require a receipt to take trades, then that's what you'd have to do. But I know that in my area they haven't required anything more than ID to do trades as of yet.

As for this buy back thing, I thought that it was actually their trade-in program you guys were talking about, which might be a better option for some versus having to pay for the privilege to trade stuff back in via the buy back program.

However if Best Buy will attempt to resell items other than games traded in for X amount I see them becoming the Gamestop of electronics, with quite a few people trading in their barely working electronics just before they're about to die and the buyers getting screwed.:cry:
 
[quote name='IAmTheCheapestGamer']

However if Best Buy will attempt to resell items other than games traded in for X amount I see them becoming the Gamestop of electronics, with quite a few people trading in their barely working electronics just before they're about to die and the buyers getting screwed.:cry:[/QUOTE]

I doubt they will be reselling this stuff directly to consumers, its probably a third party wholesaler who will refurbish the stuff. Besides you can only trade non tvs in within 2 years under this program, most electronics arent on the verge of death within 2 years.

I'd love to see what they are charging for the right to sell your stuff to them within 24 months for 50-20 percent what you paid.
 
I think local store sells little to no used items, so I'm guessing they might sell the items online. Bestbuy.com offers used items online to buy versus in store.
 
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