Best Buy Buy-Back Program Questions

[prism]

After looking at Best Buy's Buyback program, it almost looks too good to be true. The buyback prices for cell phones are based on off-contract, retail prices. Are these prices based off the retail price at the time of the phone's purchase, or at the time of the trade-in?

Even if it's based on the time of trade-in, Best Buy's retail price for a Droid Incredible is 599.99. If I bought one 12-18 months ago, I would get $180 credit for it, which is likely just $20 less than what I would've paid for it when I signed my contract.

Does the trade-in program extend your contract or have any other big caveats? Just seems too good...

 

[TheStu]

Even if it doesn't change your contract here is the catch;

You buy on-contract phone for $200
12 months later Best Buy buys it back for $180
You now need to cough up $420 for a new phone since you won't be eligible for a subsidized price

 

[zerocool84]

Even if it doesn't change your contract here is the catch;

You buy on-contract phone for $200
12 months later Best Buy buys it back for $180
You now need to cough up $420 for a new phone since you won't be eligible for a subsidized price

Highly doubtful someone would even get the $180 credit for it since most people would at least have a few smudges or scratches on the phone by then.

 

[Fingolfin269]

What if you're "trading" in a phone but canceling service, paying an ETF, and signing up for a new service entirely?

 

[TheStu]

What if you're "trading" in a phone but canceling service, paying an ETF, and signing up for a new service entirely?

Depending on the carrier, the ETF could still be significant, but remember that you are getting a new number each time you do this. Or you just wait a little longer, and keep your number and get a new phone on subsidy.

 

[Fingolfin269]

Depending on the carrier, the ETF could still be significant, but remember that you are getting a new number each time you do this. Or you just wait a little longer, and keep your number and get a new phone on subsidy.

Well this would be changing carriers so I was thinking I could just take in a phone, get something pretty close to the ETF since I have a decent phone ($200 or less ETF on Sprint), port over to a new carrier and start new service there. Does it work like this?

1) Take in current phone - Sprint service
2) Trade it in but cancel Sprint and pay ETF
3) Port # to new carrier and sign up for service

Can you not port if canceling a contract and paying ETF?

 

[Vdubchaos]

If it's too good to be true....

Buy dirt cheap while making a new sale.

Perfect business purpose.

 

[TheStu]

Well this would be changing carriers so I was thinking I could just take in a phone, get something pretty close to the ETF since I have a decent phone ($200 or less ETF on Sprint), port over to a new carrier and start new service there. Does it work like this?

1) Take in current phone - Sprint service
2) Trade it in but cancel Sprint and pay ETF
3) Port # to new carrier and sign up for service

Can you not port if canceling a contract and paying ETF?

You might be able to port the number, but you would have to talk with both the existing carrier and the new one.

Also, why not just sell the phone on Craigslist or something, and buy the next one the same way?