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If you’ve been looking to upgrade to the latest model iPad, now is the time to get to your local Best Buy store(s BBY). The retailer is reviving its iPhone trade-in program from last month for Apple(s AAPL) tablet owners.
Starting today and ending tomorrow, those who bring in a working iPad 2 or third-generation iPad will be guaranteed at least a $200 trade-in value — though Best Buy says that number could be higher depending on the device and the condition it arrives in. The final value will be put on a Best Buy gift card and can be put toward the latest model iPad with Retina Display. That price starts at $499 at Best Buy.
Not every one of its stores does trade-ins, but a list of local Best Buy and Best Buy Mobile stores that do offer them, can be found here.
The iPhone trade-in offer the retailer introduced last month was supposed to be June 1 only, but the program was so popular, Best Buy ended up renewing the trade-in offer for nine more days later in the month.
These type of iPhone and iPad trade-ins with retailers used to be offered the day a new iPhone or iPad model first went on sale. But now they’re offering these deals mid-way through the update cycle. Best Buy obviously isn’t doing this out of the kindness of its heart, it wants to close out the iPhone 5 and 4th generation iPad with Retina Display models this summer in anticipation of a product refresh this fall. Best Buy can also turn around and re-sell the models in good condition or recycle the ones that can’t be resold.
Apple has mostly left trade-ins to third-parties, but has been recently experimenting with these kinds of offers with the iPhone in some emerging markets. There have been several reports that the company is planning to begin its own trade-in program for iPhones.