Best Buy's Buyback Program - Not Such a Good Buy

Posted Wed Feb 9, 2011 at 11:00 AM PST by Dick Ward

Once the free trial ends, you could end up losing money on your TV.

Best Buy is really excited about their new buyback program that offers up to 50 percent of your money back when you trade in an old TV for a new one. It seems like a pretty good deal too, until you look at it closely.

The folks over at HD Guru have sifted through the contracts and it's not looking good. For starters, that 50 percent return only comes if you're trading in a TV in perfect condition that you bought six months ago. If it's in what Best Buy considers to be poor condition you'll get up to 25 percent and if it's substantially impaired you get nothing.

As an example, if you buy a $2,500 TV and pay $349 to sign up for the buyback program - what, you thought it was free? - you have two years to trade the TV in for a gift certificate worth up to $500. Any later than that and you'll get up to $250. That's $100 less than you paid to sign up for the program in the first place.

Source: HD Guru

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Tags: Industry Trends, High-Def Retailing, Best Buy (all tags)