What’s the Samsung TV Upgrade Program and Is It Worth It?
The average person gets a new smartphone every two to three years — or even more often, depending on the length of their contract. Wouldn’t it be nice to be able to trade in your TV for a new one every few years? Samsung has a TV upgrade program that allows people to finance their TVs for 36 months and purchase the latest TV on the market for a discount every 24 months.
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So is it worth it to replace your TV every two years? Maybe. The program is a little more complicated than it appears on the surface. Here’s what you need to know.
How Does the Samsung TV Upgrade Program Work?
To participate in Samsung Upgrade, you need to have a financing account with Samsung and finance your TV for a period of 36 months. Simply owning a Samsung TV isn’t enough to receive discounts on TV upgrades in the future, so this is something to keep in mind. The purpose of this program is to let you purchase a new TV every two to three years so that you’ve got the most up-to-date and state-of-the-art TV technology in your home.
The type of TV you’re able to upgrade to may vary from time to time, but the program can help you save money on all QLED and Frame televisions that are 55 inches or larger. You need to be current on all of your financing payments and have made at least 24 payments before you’re eligible to upgrade. When you choose to upgrade, you’ll receive 33% of the cost of your current TV as a discount on your new TV.
At this point, you may be able to recoup some of the money you spent on your initial TV by returning it for a credit. Samsung reserves the right to determine the value of your return. If you decide to return the new TV, you lose the discount.
One perk of this program is that you don’t need to return the initial TV when you upgrade. This means you can continue purchasing new TVs while still holding onto the originals if you want to add TVs every few years to new rooms in your home.
Is the Samsung TV Upgrade Program Worth It?
Whether the upgrade program is worth it for you depends on the reason you want to purchase a new TV every two to three years. If you’re patiently replacing all of the old TVs throughout your home, you’re going to save 33% on each TV that you purchase from the program. But if the reason that you want to participate in the program is that you want the best and latest TV on the market, it might actually not be worth it at all.
Since the introduction of 4K HDTVs, there hasn’t been much technological advancement with televisions from model year to model year. While manufacturers are always trying to come up with new features and gimmicks to make their products more attractive, most people don’t find a need for these added features and are happy with the resolution of their current TV. Plus, most TVs will work well for almost 10 years.
It could be a waste of money and a potential way to crawl into debt to purchase a new TV every 24 months when your financing term is 36 months. Your initial loan will not be forgiven, and there is no guarantee that you can sell your initial TV for what remains on your loan. If you do decide to sell your TV, it’s a better idea to sell it privately than to return it to Samsung. You’re going to sell it for more money to a private buyer than what Samsung is likely to credit you with.
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Does LG Have a TV Upgrade Program?
At the moment, LG isn’t advertising a TV upgrade program. Some television manufacturers might be waiting to see if the Samsung upgrade program gains any traction before implementing similar offers of their own.