Samsung is now promising a guaranteed 50% cashback on every Galaxy S20 phone purchased
Just about every electronic item out there loses value over time. While products from some brands like Apple might retain their value for longer, the same isn't right for everyone. It is hard to tell how much your shiny new $1,500 phone will be worth in two years. That is a part of the reason why companies often have buyback programs that promise customers a guaranteed price on their phones. Samsung has one now too for its Galaxy S20 series.
If you go to the official Samsung's U.S website, you'll see that Samsung has a buyback program in place that promises you 50% of the phone's sale price after two years. Samsung attached a handy chart that gives us an idea about how much money one will receive after two years.
Samsung won't write you a check for the designated amount, though. You can claim the amount anytime within two years as store credit towards a subsequent purchase. Lastly, the phone has to be in reasonable shape when you return it. Any cracks, blemishes or cosmetic damage means that your phone might not be eligible for return. Lastly, you'll need to switch off Google's Factory Reset Protection as well. You can find out more about the terms and conditions here.
For now, the program is only available on the Samsung U.S website. Looking at the Galaxy S20 series' disappointing sales numbers, Samsung may introduce the program in other regions as well. The offer applies only when you make a purchase from Samsung's website or the official Galaxy Shop app.