Best Buy's New Buy Back Program Is A Ripoff

February 06, 2011

Best Buy's new buy back program is clearly a ripoff. For now it's free until Feb 12, 2011, even that may be not worth sending your product back. The plan is steep, they are charging $70 (2-years) for netbooks, tablets, and phone. Charges for TV are currently unknown. Instead of paying for the plan and receiving a small amount back when you return the item, selling it on ebay is more profitable, and you get cash back. But with Best Buy's buy back, you get a gift card to spend at their store.



Buy a netbook at $300 + $70 plan (return within 2 years) = $370
Return the netbook in 18-24 months later, get $60. You lose $310.
Sell on ebay in 18-24 months, get $100-$140. You only lose $160-$200.

Clearly Best Buy is the biggest scammers of any B&M retail stores. Do they still charge an arm and a leg for setting up your PS3? Firmware update?

 

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