The Trade-In Scam

If Gamestop has taught us anything, it’s that Trade-Ins are a scam.

Best Buy sent me this wonderful bit of marketing material in regards to trading in some old electronics I may not be using. “Trade In and Trade Up” they say. Pictured in the ad is a Nikon Z7 which I purchased from them years ago which cost about $2700 at the time. Now, only a few years later, the trade-in value is $165. Unless I was extremely hard up for money, I would never consider such an offer. I’d just keep the camera and use it at that point.

Companies prey on the ignorance of their customers, presenting their trade-in values as good deals. You’re much better off selling on eBay, Amazon, Facebook Marketplace, Craigslist, forums, etc. than to be royally screwed by stores offering some sort of trade. The amount they offer you will be insultingly low versus what you initially paid for it, whether the item is a recent release or years old. If the item cost more than $500, it’s best to sell to someone directly or keep the item. If it’s a cheap item, say under $250, trading in may not be the worst scenario.

Also consider trading in if there’s some sort of offer to increase the trade-in value. In the case of photography, manufacturers often have a special offer where if you trade in your old camera, they’ll give you an additional credit on top of the trade-in value towards the purchase of the new camera. Sony currently has such an offer where they’ll give you an extra $500. That could be a sweet deal if the item you’re trading in has very little worth these days.

But in general, avoid trade-ins. They’re a scam.