Best Buy wants to pay you for your old and used tech — and some items are worth over $1,000

As technology advances and upgrades to electronics are unveiled every year, you've probably collected your fair share of devices.

But those forgotten devices, stored in the back of a random drawer or wedged in a storage closet, could actually be turned into money, thanks to Best Buy's expansive trade-in program.

How does the Best Buy Trade-In Program work?

The Best Buy Trade-In Program enables customers to trade in their old or used electronics, both online and in-store. 

While taking a device to a Best Buy store may result in faster compensation, customers can easily complete the process online by first using the Trade-in Estimator tool to determine whether an item is eligible for trade-in and its potential value.  

After searching for the desired trade-in device and answering some questions about its condition, participants can quickly get an estimate of its trade-in value. 

Best Buy requires that the device be at least capable of powering on and functioning as a user would normally expect. It is recommended that any corresponding power cables or accessories be included with the device to receive the maximum trade-in value. Participants are responsible for wiping all personal data from devices.  

If the estimated trade-in value is accepted, participants will receive a free shipping label to send their device to Best Buy for inspection. Once the device is prepped and thoroughly packaged for protection, it must be shipped off within 14 days of receiving the trade-in value estimate.

Finally, Best Buy will email an electronic Best Buy gift card within five business days of receiving and inspecting the device.

Why should I participate in the Best Buy Trade-In Program?

Best Buy's free Trade-In Program allows customers to earn credit toward any Best Buy product, essentially offering money for new purchases in exchange for long-forgotten devices.

For some computers and tablets, you could potentially earn up to $1,800.

Which of these savings plans for rooftop solar panels would be most appealing for you? Save $1,000 this year 💸 Save less this year but $20k in 10 years 💰 Save less in 10 years but $80k in 20 years 🤑 Couldn't pay me to go solar 😒 Click your choice to see results and earn rewards to spend on home upgrades.

Even if a device is not eligible for trade-in, Best Buy still offers an electronics recycling service.

These used or old devices can be properly recycled to recover valuable materials, such as gold and lithium, while safely disposing of hazardous chemicals like mercury and lead.

The proper disposal of electronic devices is important as the hazardous chemicals used to make them can accumulate in landfills and leach into the surrounding environment, polluting the soil and valuable water systems. 

Trading in old devices is also incredibly beneficial for the planet, considering the extraction of rare-earth minerals needed to build new ones requires labor- and resource-intensive processes. It also keeps old products out of methane-producing landfills. 

Giving used or old devices a second life can reduce demand for new electronics, giving the planet and its finite resources a chance to breathe.

Are there similar programs to the Best Buy Trade-In Program?

Electronic device trade-in programs are popular among various tech stores and major retailers.

Household-name brands, such as Target and Costco, offer similar programs to trade in devices in exchange for credit toward groceries and other items. 

Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.