Before the Galaxy S20 even went on sale, I predicted its high price would put a damper on sales, and due to the impact of covid-19, things have only gotten worse. So now to help spur sales, Samsung is instituting a new program that will give new S20 owners a 50 percent buy back guarantee.
That means anyone who purchases a standard Galaxy S20 for $1,000 from Samsung.com would effectively be paying just $500 for the phone, assuming you send the phone back within two years of your initial purchase and in “satisfactory condition,” which means no damage “beyond normal wear and tear.” And the savings get even better for the super premium $1,400 Galaxy S20 Ultra, as it would return $700 after the buy back.
So as long as you take care of your phone and send it back in time, Samsung’s buy back program goes a decent way towards addressing the Galaxy S20's downside: it’s high price.
That said, there are some important details anyone interested in taking Samsung up on its deal should know. Samsung’s buy back offer is only available directly on Samsung.com, so don’t expect Best Buy or other retailers to match. Also, while the buy back program will refund half of the cost of a Galaxy S20 in the long run, you are still on the hook for the phone’s full retail price until then, so you better take good care of your device.
Thankfully, customers are given the option to pay full price for an S20 at purchase, or in monthly installments which would come out to $42 a month for a standard Galaxy S20.
Finally, when you do decide to send your phone back, Samsung says the buy back offer will appear as a credit statement on whatever payment method you originally used to purchase the phone.
Interestingly, it appears that you can combine Samsung’s buy back offer with its everyday trade-in offers, so depending on when you decide to send back the phone, it may be possible to get more than 50 percent of your initial purchase price back.
Unfortunately, it seems Samsung’s website containing all the details and fine print regarding its buy back offer is on the fritz right now, so you may want to wait a bit for things to settle down before trying to take advantage of the deal.
But still, the idea of getting a Galaxy S20 Ultra for $200 less than an iPhone 11 Pro is a tantalizing deal and one that due to current circumstances, may not come around again for next year’s batch of Galaxy phones. Just remember to slap a case (and maybe a screen protector) on your new S20 so you can get that full 50 percent when you send it back.