Can someone please explain the Best Buy 'buy back program' for iphone 4?

Discussion in 'iPhone' started by jealousguy86, Mar 28, 2011.

  1. jealousguy86 macrumors 6502

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    #1
    so found out i can upgrade my "dumb" phone if needed. i was planning on just waiting until the summer for iphone 5. but then i heard about the buy back program at best buy..

    it says:
    can someone please explain this to me? because what i'm getting out of this and the buy back program is that i can upgrade my dumb phone to the iphone 4 this weekend for $200 (verizon 16 gb) and in 6 months or less when the iphone 5 comes out, i can take it to best buy (having purchased the buy back program for it), get $240 in best buy credit for the iphone 4, then upgrade to the iphone 5 for $200? or does it mean i'd have to pay the $600 retail price and get no sale price like normal for the iphone 5 when it's out? or what's the deal?

    i'm so confused... please help.
     
  2. rudolf macrumors member

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    #2
    Would you even be eligible for the discounted pricing after 6 months?

    EDIT: Also, you would need to pay the $60 for the program.
     
  3. mnsportsgeek macrumors 65816

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    #3
    Do not touch the buy back program. Ebay is your friend.
     
  4. splashnader macrumors 6502a

    splashnader

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    From the way I understand it you would get a gift card for in the amount of $240. Then you could apply that towards your next purchase. Assuming the iphone 5 retails for $600, non discounted price would apply, you would be paying $360 for the iPhone 5. The whole purpose of the buy back program is that you are deciding not to fulfill your contract and thus they give you some value for your trade in, and they still make a killing reselling your old iphone 4.
     
  5. jealousguy86 thread starter macrumors 6502

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    #5
    that's what i'm wondering, would i be eligible for the $200 pricetag in 6 months?

    i know i'd have to buy the buyback, i said that in OP.

    and how would ebay be any better? if i was buying an iphone 4 for 200, then returning it in 6 months or less and getting 240 back for it, how could i get more than that on ebay? pretty sure if i can get at least 200, that'd be all i care about.
     
  6. splashnader macrumors 6502a

    splashnader

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    #6
    No you would not be eligible for the $200 price on the new iphone if you return it between 6 - 12 months.
     
  7. jealousguy86 thread starter macrumors 6502

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    #7
    even if i were to upgrade it for the 2 year contract? i never understand this crap about phones and upgrading...
     
  8. Applejuiced macrumors Westmere

    Applejuiced

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    #8
    Let me explain it.
    You give bestbuy your older valuable items back and they buy them back dirt cheap and give you best buy gift cards in return.
    Then Best buy sells them and doubles their money or more.
    Have a good day:D

    You cannot resign a new contract for $200. You gotta wait at least a year sometimes 2 years or 18 months depending on your account. Call up your carrier and find out details on when you can upgrade your device and for how much.
    On ebay you can get $400-500 for your iphone 4 where Best buy would give you a $240 gift card. Big difference, your choice though.
     
  9. Jett0516 macrumors 6502a

    Jett0516

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    #9
    its a bad program because you can get a lot more money if you sell your iphone through ebay or craigslist. and having to pay to get the buy back program just to get less money....it doesn't make sense.

    also best buy will buy back your iphone but you are still suck with a contract.
     
  10. splashnader, Mar 28, 2011
    Last edited: Mar 28, 2011

    splashnader macrumors 6502a

    splashnader

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    #10
    From the way I read what you posted you would not be able to get the subsidized pricing on the next phone. Unless I am mistaken the whole point of this program, as it appears to me, is to let you break your contract every six months to a year, without having to pay the full non-subsidized price. Instead you pay $360 instead of $600 every year a new phone comes out. That's how it sounds to me.

    ON EDIT: BTW my math is wrong. I changed it.
     
  11. Applejuiced macrumors Westmere

    Applejuiced

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    #11
    No, it has nothing to do with breaking your contract.
    Your agreement still stands between you and your provider.
    Bestbuy doesnt pick up the ETF for you or somehow erases the agreement you signed with your carrier.
    It just gives you money as in a BB gift card for your old used items that's all.
     
  12. jealousguy86 thread starter macrumors 6502

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    #12
    thanks for the info.

    i'm just gonna wait til summer for iphone 5. no rush. just was curious.
     
  13. splashnader macrumors 6502a

    splashnader

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    #13
    But wouldn't he be buying another iPhone with same provider. Or just another phone same provider. I was assuming this program has terms as such to make sure you don't break contract with provider. He is just renewing a full two year contract, but he is doing it every six months to a year. In essence Best Buy keeps him update with the latest smartphone every year, kind a like a lease.

    If not then what the hell is the point of the program. If they buy back your six month old phone for $240 and then ATT or VZ charge you $350 or whatever the ETF is, then how the heck is this program supposed to be attractive. From the way I read it they aren't buying back 3 year old phones only phones no more than a year old. At least that is what he posted from Best Buy. Maybe there is more information or I am reading this wrong.
     
  14. Applejuiced macrumors Westmere

    Applejuiced

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    #14
    No, it doesnt work as you assumed. BB cant keep him updated every year unless he pays full price for the phone or does an early upgrade or if his account qualifies for a full upgrade every year.
    AT&T or VZ doesnt charge you an ETF since you're not closing your account, they just wont pay for a full upgrade for you whenever you feel like it that's all.
    He would be buying another phone or do whatever he wants with that gift card. He can buy a TV whatever....
    But the price of the new phone will be determined by his agreement with the carrier. If they subsidize it it will be $199, if he's not up for an upgrade it could be $600 or an early upgrade could be $400. Depending on the particular case and when he can update his device. Each account is different, he would have to contact customer service to find out details on when he can get a full subsidy or an early upgrade.
    Some of you guys need to read up and learn how carrier, cellphone subsidies, contracts and the whole wireless post paid system works. It has been the same for over 10-15 years.
     
  15. jealousguy86 thread starter macrumors 6502

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    #15
    interesting point. but does it make sense for best buy to sell me a phone for 200 (iphone 4), then when i return it in 6 months or less, give me 240 in BB credit, which i'd use toward upgrading to the iphone 5 when it's out, which would be another 200. then i'd have about 40 left over (i'm not including tax at all).

    that seems like i'd just be buying the iphone 5 right now, and using the iphone 4 as a placeholder almost until i can actually have the 5. so i guess i'm still giving them the money, but they get a used phone out of it..?? this is too confusing.
     
  16. Applejuiced macrumors Westmere

    Applejuiced

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    #16
    You get the $200 price for signing a 2 year contract with your carrier. The full price of the phone4 out of contract is $600 so BB is not doing you any favors or giving you extra money. They can sell that $240 iphone 4 for $500+ and make a profit. And again if you try to get another iphone in 6 months using the same account you will not pay $200 for it, it will cost your alot more.
    Ok, Im done explaining how contracts work:D
    I feel like an AT&T rep.
     
  17. splashnader macrumors 6502a

    splashnader

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    Ok now all the hamster wheels in my head are turning it is making sense. This is why I would make a lousy lawyer. :D
     
  18. jealousguy86 thread starter macrumors 6502

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    #18
    ok so what is the point of anyone using this buyback program at best buy then for mobile phones?
     
  19. DDustiNN macrumors 65816

    DDustiNN

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    #19
    Nothing more than you wasting your money while you bend over for Best Buy and let them take whatever they want.

    Don't do it - you will not come out ahead. You are basically paying Best Buy to rip you off. That's like being ripped off twice!

    Your $200 phone will sell for $500 or so on eBay... Don't sell it to Best Buy for $180 ($240 - $60 for the program). Plus, since the $200 price involves a 2-year contract, you will not be able to get the next iPhone for $200. You will have to pay the full price of $600+ (unless you have an upgrade available on a different line on your account, of course).

    Bottom line: JUST SAY NO.
     
  20. milani macrumors 68000

    milani

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    #20
    ^ You're right, you're always better off selling things yourself. That said, some people value the convenience of letting Bes Buy do the selling, so there is always that to consider, I guess. However, since the OP is looking for the best deal, it's pretty obvious he shouldn't be going that route.
     
  21. DiamondMac macrumors 68040

    DiamondMac

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    #21
    Be careful

    MANY Ebay fraud claims going on with them right now dealing with Apple products

    I put my iPad1 up for sale and got 4 UAE, Nigeria, etc...people wanting them
     
  22. huskerchad macrumors regular

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    #22
    Yes, assuming you are currently eligible for upgrade pricing with Verizon (by signing a new contract).

    Yes, if you signed up for buy back

    No. You won't be eligible for upgrade pricing again so soon. Best Buy will give you their buy back price (which is a total rip off compared to what you can get for the phone on CL or ebay). But that has no effect on what you are going to pay for a new phone. Without upgrade pricing, you are going to pay full retail for that iPhone 5.

    By the way, if craigslist and ebay aren't your thing, you can at least do ebay instant sale. Right now they would give me $400 for my 32GB iPhone 4 in "excellent" condition.
     
  23. mnsportsgeek macrumors 65816

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    #23
    As for the ebay scams... Just be smart, when you are the seller you have full control. If the buyer doesn't pay, list it again. Do not ship until you receive payment in full.

    If you're the buyer, you are covered by ebay, paypal, and your credit card company. You won't lose your money.

    As with everything on the internet. Use common sense and you'll be fine.
     
  24. DiamondMac macrumors 68040

    DiamondMac

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    #24
    And yet there are scams (as has been posted here) where the buyer claims to have NOT received it even when shipping status says delivered

    And though you would think it is as easy as just showing EBay/Paypal that it was delivered. Some claim that they are being quizzed by them about it
     

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