Best Buy offering to "future proof" your tech gadgets

If you purchase your iPhones or iPads from Best Buy, you may be interested in checking out their new Buy Back program. In a letter sent out to current Best Buy Reward Zone customers, they'll be announcing the new program during the Super Bowl this coming Sunday (third quarter to be exact).

It appears Best Buy will tell you exactly how much they'll give you for your gadget when you purchase it. When you are ready to trade in your iPhone, iPad, or iPod Touch (or any other gadget for that matter), you'll get a Best Buy gift card instantly for the fixed buy back amount. It's a nice little gesture to loyal customers. Here is part of the e-mail sent to customers:

Buy Back is essentially "future-proofing" your technology. You purchase the technology you want today, and we'll buy it back at a set price when you're ready to upgrade to something new. You'll know upfront what your gear will be worth, and you can conveniently redeem your Buy Back at our stores and immediately receive a Best Buy Gift Card.

It remains to be seen how much they'll offer you for certain gadgets. My guess is whatever it is, you'll still make out better selling your previous generation gadgets on eBay or Craigslist. It's still a nice option for customers who don't want to deal with the hassle of selling off old gadgets themselves.

Is this something you guys would utilize or do you think they'll offer amounts that won't really be worth it?

Allyson Kazmucha

Editor for iMore, Potter pundit, and the ninja in your iOS

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There are 29 comments. Add yours.

excaliburca says:

Do they offer that in Canada?

Randy says:

Ahem.. BBY employee here.
You have to pay into the plan to get your gadget covered with BuyBack. You get 50% back if you trade it in within the first 6 months and it goes down 10% every 6 months after that up to 48 months for some items. so if you buy a shiny new iToy and keep it 12 months, you get a max of 40% in return.

BBYM#IM says:

Same here up to 24 months with cell phones. (18-24 %20)

oilseeker says:

Depending on how much they charge for the program, I think it would be a very interesting program to check out. One of my biggest problems with selling my old phones/iPods online is that shipping items with irremovable batteries is very difficult and expensive, particularly across the border. I would be willing to get less money for my device just to avoid dealing with those hassles. I just hope they bring this program to Canada (and a Best Buy to my city)!

BBYM#IM says:

It's $60. If you buy the geek squad black tie with it $30.

rgar3388 says:

Ya they've already released the terms and how much they give back. It's posted all over the stores.

JC says:

50% of what you paid if you bring back in 6 months
40% in 12 months
30% in 18 months
20% in 24 months

JC says:

For Cell phones its great because its based off the Retail price, not what you paid for signing a 2 year.

ArtVandelay says:

Not true. It goes by % of what you PAID , has nothing to do with Retail Full Price.

Jay says:

No, the manager that gave me the info specifically stated it was based on FULL RETAIL, not the contract price.

Quick5pnt0 says:

What a scam. Think about it. You buy a $200 iPod and add in the buy back program for $60 extra. In one year you decide you want to upgrade so you bring in your iPod and they give you 40% of the original $200. Sounds great right? Now you've got $80 toward your next gem iPod. Here is the problem, you spent $60 to get into the program so in reality best buy gave you an amazing $20 for your one year old iPod. LMAO

OrionAntares#CB says:

Cellphones and large tablets are where you would be more likely to see any real benefit out of this program. Though that still remains to be seen since we don't have full details on the program yet.

Chris Vitek says:

If you buy an iPhone, on contract, and do this BuyBack thing...is the price they offer based on a non-contract price? If so, this suddenly becomes much more interesting.

Ethan says:

Correct. It's a percentage off full retail.

jim1969 says:

Exactly the scenario I'm thinking of doing with the new Verizon iPhone 4. Since Verizon is no longer offering a 1 year contract, this is a way around it. Buy one on contract, trade it in 12 months later, apply the 50% of retail price of the first phone towards the full price of the new phone (assuming the iphone 5 comes out next year).

OrionAntares#CB says:

Verizon is still offering 1 year contracts. They're just not offering early upgrades to people with 2 year contracts any more. Assuming they keep the same pricing they have now, the price difference between a 1 year and 2 year contract is $70 up front on the device.

jim1969 says:

No 1 year contracts on the iPhone.

OrionAntares#CB says:

Probably not right now. They'll likely offer them later, either after the 10th or after the initial launch buzz dies down. If not well that might be something related to the agreement they have with Apple then.

Art VanDelay says:

How it this good news in regards to iPhone???
They release iPhones every year and the main problem has never been resell, but being tied to a contract with AT&T(and now Verizon) As someone mentioned above, eBay works much better.
Why would I want to pay into a program and lets say get 50% GIFT card on an iPhone 4 32GB ($150), when I can get $300 (ore more) cash by reselling it on ebay ??
Even when it comes to TVs or other equipments, this program is not beneficial to the customer. You ALWAYS have a better chance to get more by selling it to a private buyer than trading it.
And dont be silly fooling yourself thinking they will give you HALF of the FULL price,, ;)

shaolinfinest says:

Did you read the whole program? It is based off full retail price not promotional price.

JSS says:

It's a percentage of what YOU PAID for that item. Retail or discount doesn't matter. They give you a specific price based on what you paid.
If it was just off " retail" in some cases people could buy a product and turn it around next day and make a profit.
Wait till you read the details once this program starts Monday ;)

Jay says:

The info is already online at www.bestbuy.com/buyback
If you select MOBILE PHONE a statement shows below it that says: "Purchase price for mobile phones refers to the Best Buy retail price prior to any specific carrier-based rebates, offers, discounts, or promotions."

Art VanDelay says:

If you put a price of $599 retails and want to get rid of it within a year when the next iPhone is out, theyll give you around $240 for it, which you can easily get an extra $100 if you sell it on eBay.

jc says:

Once again. Its from RETAIL price on cell phones. Program does not start Monday. It started 1-1-11. Source- bb employee

Art VanDelay says:

My example was the [b]RETAIL PRICE[/b] ;)
$599 RETAIL,,,, a year later they give you $239. You can sell it on ebay $350-$400

Clubcarib says:

No kidding. I bought my 16G 3G in October '08 for $199 and sold it jailbroken and unlocked this summer on eBay for $250. Paid for my 4 with some cash in my pocket.

Jay says:

I was in Best Buy this evening and while I was there I got the info on the Future-Proof program.
It's costs $60 for the program, $30 if you also get the Black Tie Protection program. It not only covers cell phones, this same program also covers laptops, netbooks, tablets and TV's.
The Future-Proof program goes out up to 24 months (48 months for TV's) and the percentage you get back is based on the FULL RETAIL PRICE of the phone, NOT the contract price you paid. There are 4 tiers with varying returns:
Up to 6 months: You Get 50% (so on a 32gb iPhone 4 (Rounded retail of $700), that's $350 back)
6-12 months: 40%
12-18 months: 30%
18-24 months: 20%
24-28 months: 10% (TV's ONLY)

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