Best Buy is in the process of starting a Buy Back program which is set to start on January 5, 2011, The program will cover the purchaser who buys a laptop computer, tablet computer, netbook computer, cell phone or HDTV. The plan is fairly simple. When the customer returns a purchase they will receive an amount determined by how long they have owned the device. According to one article the price is determined by the original MSRP of the device.
Here are the Buy Back program rates. If you buy a laptop, netbook, tablet or cell phone, you will get a gift card for up to 50% of the MSRP in the first six months and 20% of the MSRP during months 18-24. Did I mention that Best Buy charges an up front fee of just $59.95 to participate in the Buy Back program? Did I also mention that if you don’t bring back the device during the buy back period, they get to keep the $59.95?
Another of the special features included in the Buy Back program is the small print that items must be in ‘good condition’. Which makes me wonder. Who decides what ‘good condition’ really is?
Though I am sure that Best Buy could change the conditions governing their Buy Back program, it would appear to an outside observer, that this type of program may not be for everyone. I know that after reading the fine print, I seriously doubt that I would choose to participate. But that is just me,
How about you? Do you see any benefits to this type of Buy Back program?