Best Buy's Buy Back Program

Discussion in 'iPhone' started by pishowda, May 21, 2011.

  1. pishowda macrumors newbie

    Joined:
    Mar 1, 2011
    #1
    So if you try to plug in numbers into Best Buy's Buy Back program http://www.bestbuy.com/site/Misc/Buy-Back-Program/pcmcat230000050010.c?id=pcmcat230000050010&DCMP=rdr2161, it says that "Purchase price for mobile phones refers to the Best Buy regular retail price prior to any specific carrier-based rebates, offers, discounts, or promotions."

    Therefore, if I buy an Iphone 4 at two year renewal price of 199, I would receive buy back credit for the phone at the regular retail price of 699.

    Returning the phone within 6 months would give me 349 dollars in store credit.

    This can't be right.
    Can anyone speak of their own experiences with BB's new program?
     
  2. pishowda thread starter macrumors newbie

    Joined:
    Mar 1, 2011
    #2
    Well, I guess I just answered my own question:

    "For example: You pay $199 for a mobile phone which normally retails for $600 and also purchase the Buy Back Program. If you decide to redeem your buy back within 6-12 months of purchase, you will receive a Best Buy gift card in the amount of $240 (40% of the original retail price) to put toward your next purchase. "

    Still a pretty cool loop hole, even if your 2 year renewal price goes out the window
     
  3. Givmeabrek macrumors 68040

    Givmeabrek

    Joined:
    Apr 20, 2009
    Location:
    NY
    #3
    That's a loophole??

    You pay $699 for the phone and sell it for $240. How is that a great deal? :confused:
     
  4. DeuceDeuce macrumors 6502a

    DeuceDeuce

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    Location:
    San Dimas, CA
    #4
    You could easily sell that phone for MUCH more privately. That buy back program is a joke for anyone but the average old lady who doesn't know how to use craigslist or ebay. Yesterday I sold my nearly two year old 3GS for $240 on craigslist
     
  5. Applejuiced macrumors Westmere

    Applejuiced

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    Location:
    At the iPhone hacks section.
    #5
    What a great deal.
    They will give you $240 for you phone and turn around and sell it for $400-450.
    Where do I sign?:D
     
  6. pishowda thread starter macrumors newbie

    Joined:
    Mar 1, 2011
    #6
    Pardon my ignorance and I'm not trying to sound ****** when I say this, but do you really think that in 6 mos. when a new iphone model is out the iphone 4 will still go privately for >350 dollars?
     
  7. wordoflife macrumors 604

    wordoflife

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    #7
    Yep.
     
  8. jfyrfytr25 macrumors 6502a

    jfyrfytr25

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    Dec 6, 2008
    #8
    Absolutely, At the time of the 4 release, the 3GS was going for $350 -$400.

    And some people still want the previous gen that's why apple still sells the 3GS and will probably keep a version of the 4 when the 5 is released.
     
  9. rockyroad55 macrumors 601

    rockyroad55

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    Location:
    Phila, PA
    #9
    Sure will. I still see 3GS on craigslist for 300-350. Some people can't afford the 4 so they go for the next best in the lineup or they want something to use until the next release.
     
  10. LoganT macrumors 68020

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    #10
    To be honest I use services like Gazelle or Amazon Trade-In because sometimes it's worth it to get less money for an easier experience.
     
  11. awadeee macrumors 68020

    awadeee

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    Viper City
    #11
    Yes. Considering you can get upwards of 400 for one now. I am a re-seller in my town and I normally sell 3Gs for $200-300 depending on condition and storage capacity and color (white is worth more). If you think that you're gonna get an iPhone 4 used for any less than 350 bones when the 5/4S comes out, you're delusional.

    And in reference to another post, they'll probably keep the 16GB model around when the 5 comes out, or maybe make a cheapie 8GB model. Who knows.
     
  12. SHirsch999 macrumors 6502a

    Joined:
    Apr 19, 2011
    #12
    I'm trying to see if I understand the buyback program correctly. If I buy an iPhone 4 from Bestbuy for $199, then sell it back to them they will give me 40% of the full retail price, or about $240. That looks like a $40 profit to me. I am guessing I would then need to buy a new phone at full retail price, not the subsidized price, correct?
     
  13. rockyroad55 macrumors 601

    rockyroad55

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    Phila, PA
    #13
    Correct, however, some subscribers have upgrade cycles of 12 months instead of 18 months so they do not have to pay the early upgrade/full retail price for the next iPhone.
     
  14. Applejuiced macrumors Westmere

    Applejuiced

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    #14
    Yes, probably more if in good condition.
     
  15. rmhop81, May 21, 2011
    Last edited: May 21, 2011

    rmhop81 macrumors 68020

    rmhop81

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    Dallas, TX
    #15
    U still have to pay $59.99 for the buy back program. It's a complete ripoff. It's not a free service.

    Plus add in tax and activation and you're losing money. Would make sense if service was free.

    They are really giving you $180 bc u paid in $60 for the program
     
  16. Applejuiced macrumors Westmere

    Applejuiced

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    Apr 16, 2008
    Location:
    At the iPhone hacks section.
    #16
    Damn, you gotta pay them $60 so they can rip you off?
    WTF:D
    Yes OP, you should really go for it.
     
  17. rmhop81 macrumors 68020

    rmhop81

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    Apr 4, 2005
    Location:
    Dallas, TX
    #17
    Yah haha it would be different if it was free. But ur basically giving them $60 to guarantee only $180 back? Doesn't make sense. I can't believe they would even market something like this
     
  18. rockyroad55 macrumors 601

    rockyroad55

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    Phila, PA
    #18
    I think it is worth it when it comes to TVs or laundry machines. I happen to get a TV or sound system once every two years so it may help. Then again, I'd go to Newegg or Amazon for no tax.
     
  19. Applejuiced macrumors Westmere

    Applejuiced

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    Location:
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    #19
    Lol. I believe it.:D
    Some of the so called "services" Best Buy is selling and people pay for is crazy.
     
  20. UltraZ33 macrumors 6502

    UltraZ33

    Joined:
    Jun 17, 2009
    #20
    It also depends on how long you wait
    6 months 50% back
    4 months 40% back and so on. If you also buy the accidental protection plan, you get the buy back half price. I do work for Best Buy and I'm not saying this because I work for them. But I do think the program is pretty cool especially if you are that type of person who wants to have the latest and greatest technology like phones, computers, cameras and consoles. But to each their own. I wish this was around when I was buying cell phones left and right lol.
     
  21. lg2k7 macrumors newbie

    Joined:
    Jul 16, 2009
    Location:
    Indiana
    #21
    Then again if you buy an android phone that has no resize value that's where buy back is awesome buy a fascinate for free get 120 two years later? That phone will be probably be worth $40 in a year. So to answer your question, iPhone not a good deal any there phone yes
     
  22. rmhop81 macrumors 68020

    rmhop81

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    Apr 4, 2005
    Location:
    Dallas, TX
    #22
    Go to the website and type in numbers and you will see how big of a rip it is. At the 2 year point u will just basically be getting your buy back program fee back.
     
  23. rmhop81 macrumors 68020

    rmhop81

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    Apr 4, 2005
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    Dallas, TX
    #23
    You aren't getting $120, only $60 bc u paid $59.99 to get into the program...
     
  24. Fernandez21 macrumors 601

    Fernandez21

    Joined:
    Jun 16, 2010
    #24
    yup, i'm doing this to get a subsidized ipad. Bought two htc surrounds on sale for free, but retail is $599. Then it was 80 for the buyback (they drop the price to $30 if you also get the $10 geek squad service) and next week will take those two phones back and get $600 towards an ipad. all it cost me was two line eligibilities (not big deal, I have 7 lines and all upgrades are staggared) and $80. Though I may splurge and spend another $100 to get the 64gb version. :D
     
  25. rmhop81 macrumors 68020

    rmhop81

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    Dallas, TX
    #25
    why not just sell on craigslist or ebay and make even more cash? why waste an upgrade like that and lock yourself in for another 2 years???
     

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