Do Electronics Buy Back Programs Make Sense?

Feb. 11, 2011— -- One of the hottest commercials in the Super Bowl was Justin Bieber's Best Buy spot about buying back your old gear.

Best Buy's Buy Back plan seems like a pretty good deal: guaranteed rates for the purchase of your electronics after you've used them for six months all the way through four years.

The premise is that for early adopters or frequent purchasers a guaranteed buy back makes sense, but given the complexity of the plan's structure, this may not be the best way to recoup the cost of your beloved tech purchases.

The plan applies to cell phones, TVs, Laptops and Tablets like the iPad.

You pay to enroll and the costs vary based on the cost of the product.

The longer you keep the product the lower the percentage of its original value you can get back.

The percentages are the most you can get back if your product is in pristine condition and you don't get cash back, you get a Best Buy Gift card that you can apply to purchases in the store or online.

Program Costs

Enrolling in the TV Buy Back Plan:

Enrolling in the Phone Plan: