Buy-Back Policy
Terms and Conditions - Product Buyback Policy
Eligibility
To be eligible for the buyback program, customers must meet the following criteria:
- 1. The product must be in good working condition without significant damage or wear.
- 2. The original proof of purchase (invoice or receipt) must be provided.
- 3. The return must include all original packaging, accessories, and documentation.
Exclusions
UsedYetNew reserves the right to refuse buyback of products that:
- 1. Exhibit signs of intentional damage or misuse.
- 2. Do not meet the specified eligibility criteria.
- 3. Fall outside the stipulated time frames mentioned in this policy.
Buyback Percentage Calculation
UsedYetNew reserves the right to refuse buyback of products that:
- 1. The buyback value is determined as a percentage of the product's original purchase price or the equivalent configuration price (processor, generation, storage, etc.), whichever is lower at the time of participating in the buyback policy.
- 2. The buyback percentage varies based on the time frame since purchase
Comprehensive Breakdown of Buyback Percentage:
Year 1:
Buyback percentage = max(50%, 100% - (days) * 0.14%)
Year 2:
Buyback percentage = max(20%, 30% - (days - 365) * (10 / 365))
Year 3:
Buyback percentage = max(0%, 20% - (days - 730) * (20 / 365))
Explanation
- 1. Max(x, y) - This function ensures the buyback percentage never falls below a certain threshold.
- 2. Days - Number of days since the product was purchased.
- 3. Percentage values (50%, 30%, 20%, 0%) - These represent the minimum buyback values for each year.
- 4. Subtractions and multiplications - These calculate the depreciation based on the number of days and the daily depreciation rate.
Table for Understanding:
Year | Initial Buyback percentage | Min* Buyback percentage | Number of Days | Formula |
---|---|---|---|---|
1 | 100% | 50% | 0 - 365 | max(50%, 100% - (days) * 0.14%) |
2 | 30% | 20% | 366-730 | max(20%, 30% - (days - 365) * (10 /365)) |
3 | 20% | 0% | 731-1095 | max(0%, 20% - (days - 730) * (20 / 365)) |
Example Usage:
- 1. To calculate the buyback percentage after 250 days: Use the formula for Year 1: Buyback value = max(50%, 100% - (250) * 0.14%) ≈ 65%
- 2. To calculate the buyback percentage after 500 days: Use the formula for Year 2: Buyback value = max(20%, 30% - (500 - 365) * (10 / 365)) ≈ 25.54%
- 3. To calculate the buyback percentage after 900 days: Use the formula for Year 3: Buyback value = max(0%, 20% - (900 - 730) * (20 / 365)) ≈ 10.95%
Process
- 1. To initiate a buyback, customers must contact UsedYetNew customer support.
- 2. Customer support will provide detailed instructions on packaging and shipping the product for return.
- 3. Upon receipt and inspection of the product, the buyback value will be processed as a refund to the original payment method or as store credit, per the customer's preference.
- 4. Pickup charges and consumable wear-and-tear charges will be applicable.
- 5. Deductions will be applicable if any damages or any functional defects are found at the time of product inspection
- 6. The value of the product will be credited only after all the verification process
Disclaimer
- 1. UsedYetNew reserves the right to modify the terms and conditions of this buyback policy without prior notice.
- 2. The terms outlined in this policy are subject to change, and any updates will be communicated to customers in advance.
Agreement
- 1. By participating in the buyback program, customers acknowledge and agree to abide by these terms and conditions.