When you buy something, hopefully your first instinct isn’t to just return it. Sure, things happen, and that’s more than likely why Best Buy, one of the nation’s largest electronics retailers, has decided to go ahead and start looking at making it possible for customers to sell their wares back to the store. First it was killing restocking fees. Now they’ve got something new. They’re calling it the Best Buy Buy Back Program, and it’s designed for those who are worried about their devices becoming obsolete after they make their expensive purchase.
The program will be set in place for cellphones, laptops, tablets, netbooks, and TVs — as long as the TVs are priced under $5,000. Best Buy is ready to kick things off on January 5th, but the commercials won’t start hitting the airwaves or print until a month later, to build customer awareness of the program. The way that Best Buy will work this depends on the product you’re trying to “buy back.” A TV, as long as it is under $5,000, will get you a 50% return as long as it is brought back within 6 months of the original bill of sale. Between six to 12 months, and you’ll receive 40%. At 12 to 18 months, you’ll be able to get 30%, and 20% for returning it between 18 and 24 months. In the third and fourth years of ownership, you’ll still be able to get 10% of the MSRP.
You won’t be getting cash for your “buy backs,” though. Best Buy will be happy to fork over a gift card, though. So, while it may not be perfect, it’s still good to see that Best Buy is expanding their perception of a return, and giving the customers more options.