Save on Your Next Purchase Through Trade-In and Buy Back Programs

by Miranda Marquit · 0 comments

After awhile, it starts to seem obvious that you won’t be using a particular item anymore. From outdated gadgets to seldom played musical instruments to old furniture, there are trade-in programs that will provide you with credit toward a future purchase, allowing you to save a little bit of money by cashing in. In some cases, you can actually receive cash for your stuff — or swap it with someone else for free.

Whether your goal is to downsize your lifestyle, or just save a few bucks on your next gadget, a trade-in program or a buy back program can help you get a few bucks toward your next purchase, or even put some cash in your pocket.

Trading In Your Stuff

Go through your unused items at home, and figure out what you want to get rid of. Then, find where you can get the best bang for your buck. Play It Again Sports will give you cash for your sports equipment. Music Go Round will provide you with cash for a musical instrument. Usually, though, you can get better value if you opt for store credit. If you are planning on buying something else at the same store, you can ask how much store credit you will end up with.

Other retailers that offer you the ability to trade your stuff in include:

  • Sears
  • Amazon
  • GolfSmith
  • Target
  • Best Buy (trade-in program is different from the Buy Back program)
  • Among Many Others…

Apple will even accept your old iPod in exchange for 10% off a new iPod. Not the best deal around but much better than nothing, especially if you frequently upgrade your music player.

Buy Back Program from Best Buy

If you are really into gadgets, though, you might consider the Buy Back program from Best Buy. With this program, you pay a fee when you make a purchase, and then, when you are ready to “trade up,” you can get a gift card for up to 50% of what you paid for the item.

Of course, you do have to realize that the older the item is, the less you will get back for it. You also have to factor in the buy back plan price, which depends on the item you buy, and how expensive it is. A TV that costs $1,500 will come with a $99.99 price tag on the buy back program. You only get 50% back if you bring the TV back within six months.

If you wait two years to bring in the TV, you will only get 20% back, or $300. If you subtract out the money you paid for the program, the value is $200.01. For those who don’t think they will be able to get $200 for a TV two years after the fact, it’s not a bad deal. You can get a new TV for less. And, with Best Buy’s program, TVs can be returned up to four years later (everything else must be returned within two years to get the money back).

Bottom Line

Before you sell your stuff for practically nothing online, see if you can get a better value using a trade-in program. Also, when you purchase the latest electronics, consider whether or not it might be worth the cost to get a buy back program that can help you earn a discount on future purchases of upgraded products. Figure out what is likely to work best for you, providing you some purchasing power for your unused stuff.

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