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  1. Thread Author  Thread Author    #1  

    Default One thing I don't understand about the Best Buy Buyback program

    I don't remember the exact chart right now, but I remember seeing it posted numerous times that if you get the Best Buy Buyback program, you can get like $300-$400 back if you do it within the first six months of buying the phone. It's like this because they base the Buyback value based on the retail value, not the amount you actually spent when actually getting the phone and signing the carrier contract.

    My confusion is (and not that I'm going to do this) if this scenario is possible:

    Could someone get the Evo LTE at Best Buy for $150, keep their original Evo, and then in a few months just go to Best Buy, get like $400 for the LTE, and then just go back to using the Evo? Like I said, I don't want to do this, but such a scenario being able to exist makes me feel kinda suspicious about the Buyback program overall. It just seems too good to be true.

    Any comments or experience on this?
  2. #2  
    cyberdalek's Avatar

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    In order to get the $150 price you would have to sign a contract and either use an upgrade or add a line. The cost on Verizon (only company I've had so not sure costs from other carriers) to add a line is $5+tax. That comes out to $120±tax over the 2 years. Also doesn't Best Buy charges for the Buy Back?
    It seems like the math doesn't really make it worth it. You may come out a few dollars ahead but you're stuck in a contract for it.
    You would probably be better off selling it on Craiglist . At least you wouldn't have Best Buy's fee.

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  3. #3  

    Default Re: One thing I don't understand about the Best Buy Buyback progr

    If you already purchase insurance through Best Buy then the buy back is only 29.99, if you are like me and get new phones every 6-12 months its a win, I walk out of the store usually with a new phone and money in hand. My EpicTouch will net me 349 tomorrow, my new Evo will be ZERO with all stackable discounts and trade ins. How could you go wrong? If you keep phones forever, then its not worth it. When I got my epic touch I traded my 3vo for 279.
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  4. #4  

    Default Re: One thing I don't understand about the Best Buy Buyback progr

    Although I used Best Buy's trade-in program, not the guaranteed buyback one, both are geared to help keep every customer shopping at BB but not put them ahead of the game with cash. I was offered twice as much to take a store credit than to have a check mailed to me. It was totally worth trading in the phone (since I was upgrading) to get the higher of the two "offers." You will find they have thought of most scenarios. I'm sorry if this didn't address what you were asking.
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  5. #5  

    Default Re: One thing I don't understand about the Best Buy Buyback progr

    One thing to note also: When they process a BUY BACK the system also checks the TRADE-IN value. If the Trade-in value is more or equal to BBack, then they are supposed to refund the BBack charge to you. The system is supposed to prompt for this as Bback and Tradein are basically the same system.

    I'm basing this off the info that I had as of last May. I'd be surprised if this policy has changed.
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  6. Thread Author  Thread Author    #6  

    Default Re: One thing I don't understand about the Best Buy Buyback progr

    Quote Originally Posted by cr33p View Post
    If you already purchase insurance through Best Buy then the buy back is only 29.99, if you are like me and get new phones every 6-12 months its a win, I walk out of the store usually with a new phone and money in hand. My EpicTouch will net me 349 tomorrow, my new Evo will be ZERO with all stackable discounts and trade ins. How could you go wrong? If you keep phones forever, then its not worth it. When I got my epic touch I traded my 3vo for 279.
    Thanks for all the info guys. This guy is basically doing what I'm hoping to do. It'd be sweet to always be able to get so much for your phone and have enough to "buy out your upgrade" from Sprint (which I assume is just paying whatever the Early Termination Fee is on your remaining contract) and pay for the new phone with that Buyback money. It just seemed too good to be true, but it looks like people like the guy I quoted above does it and it's all just to keep people extending their contracts through Best Buy, not to mention the money seems to be in the form of a gift card usually (if you want a real high amount), which is fine I suppose.
  7. #7  
    richard1600's Avatar

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    Default Re: One thing I don't understand about the Best Buy Buyback progr

    I use myphoneprice.com which compare all major trade-in programs.

    So, you can find the best trade-in or cash offer place for your phone.

    hope this help

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