Understanding Electronics Buy Back Programs and Recycling

Have you heard about electronics buy back plans?  These are fairly new, but they are really catching on quickly as big name chains such as Best Buy and Wal-Mart are starting to offer them.  They are a similar concept to recycling.


Just how does a buy back program work and is it all worth it?

Buy back programs vary with the store, but generally work like this: You buy a new electronic item and buy back coverage, when a new item comes out that you want, you return your current item for a percentage of its value.  It is almost like when you trade in your car when you go to buy a new one.  Now you can do the same things for phones, gaming systems, televisions and the like.  The percentage often goes by how old the item is you are bringing back, just a few months old?  You may get as much as 50% of the price back.  The item still has to be in good working condition, or you may get nothing back at all.

Why would anyone want to do this?  These plans mostly cater to those looking to always have the latest electronic equipment with the smallest amount of hassle.  Many people will go on websites such as eBay or Craigslist and sell their item before going to buy a new one.  You might make slightly more profit going this route, but it can cause a lot more hassle such as people backing out, having to deal with shipping, and the like.

How do you know if an electronics buy back program is right for you?

Besides selling it yourself, recycling, as well as these new buy back programs, the only other option is letting your item go to waste sitting in a drawer.  Only you know what would work best for you, but these options are nice to consider if you want minimal wasted time in selling your item and don’t want to wait to get a new one!