Best Buy launches electronics 'Buy Back' program

NEW YORK (AP)— Timing is everything when shopping for gadgets. That's because there's always a possibility that a new version of the smart phone, tablet or other electronic gear will be released soon after you make a purchase.

To allay such fears, Best Buy Inc. launched its new "Buy Back" program in a Super Bowl ad featuring aging heavy metal star Ozzy Osbourne and teen pop sensation Justin Bieber.

Under the program, the electronics retailer agrees to buy back certain products within a limited time. Customers can get a partial refund based on how quickly they return the item.

Best Buy is touting its buyback plan as a way to "future proof"' purchases. But it comes with costs and catches you should examine carefully.

For now, the buyback plan is free. But after Feb. 12, here's what it will cost:

• Laptops, netbooks and tablets: $69.99.

• Mobile phones: $39.99 to $59.99 depending on the price

• TVs: $59.99 to $349.99 depending on the price

And depending on when the item is returned, here's how much of the purchase price customers get back:

• Within 6 months - up to 50 percent

• Between 6 and 12 months - up to 40 percent

• Between 12 and 18 months - up to 30 percent

• Between 18 and 24 months - up to 20 percent

• Between 24 and 48 months (only TVs are eligible) - up to 10 percent