Do Electronics Buy Back Programs Make Sense?


Apple's iPad

There are tons of rumors that Apple will come out with the iPad 2 later this year, so if you really want an iPad now, enrolling in the Best Buy program makes sense.

If you bought an iPad 16GB Wi-Fi/3G, it would cost you $599.

You pay the $70 buy back fee, and in 6 months if you want the new iPad Best Buy gives you $300 back- $70: $230 for your new iPad.

Current rates for an iPad on Gazelle are about $289.

But this is a case where the guarantee makes sense: there could be considerable fluctuations in resale price since we don't know what the iPad 2 will offer.

If it's super-fantastic and makes the old iPad look archaic, the guaranteed price from Best Buy is a good deal for consumers.

Another case for the Best Buy program is the ease of it.

A Best Buy spokesperson says their research shows that only 12 percent of people actually use trade-in programs like, or resell tech on eBay or Craigslist.

And they tell us: "We can't guarantee that we'll always beat what you could get if you resold the product on your own. But at Best Buy, we will always give you the higher of the Buy Back price or our own trade-in program's value when your product is returned in good condition with all of its originally included parts. With the Buy Back Program, we'll buy the product back, at a price that provides you huge value to move to the next product of your choice."

So if you think this is the only way you would ever get some money back for your gear, then it's a good deal for you and your lifestyle.

If you look at the numbers a different way I welcome your thoughts in the comments section -- there are a lot of scenarios here and there may be other ways in which the Best Buy Back is a good deal.

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