A start up company in Los Angeles has started a gadget buyback that gives you the option to purchase a "guaranteed buyback contract" on any type of consumer electronic gadget, while its new tech from the store.
The company states this will help in the effort to recycle old technology while putting some cash back into your pocket. This sounds great but, it might not be to your advantage.
We took a look at this new gadget buyback program which was started by a corp called TechForward. The way the program works is simple, you buy an electronic gadget from the store, let's say an Zune, and the store gives you the option to purchase a guaranteed buyback for the Zune with a guaranteed amount of money paid to you when you're done with it.
Lets say 2 years down the road, you want to upgrade to a new Zune. TechForward will send you a box and free shipping postage so that you can ship out you're old Zune, and you then receive a check in your mail from TechForward for the amount that was predetermined when you originally bought the Zune. Sounds like a green friendly way to dispose of old consumer electronic devices. Let's take a look at the numbers, they just don't add up.
For you to get 100 percent of what you were guaranteed, your gadget must be in good condition. If its in poor condition expect a 25 percent penalty. If it's not working at all don't expect to see anything back. The contract only lasts 24 months as well and you can also renew for another 24 months with a lesser value on your gadget I say fooorgeetabout it, you can't win in this game and what do they judge the quality of your gadget on?