There are some things that you cannot avoid buying new. However, there are also countless used items out there that are just as good as their brand-new counterparts — and much cheaper. Here, we look at seven of these things you should buy used instead of new:
1. Your car. Everyone loves that new car smell and the feeling of driving a brand-new vehicle out of the dealership, but your car's value drops by at least 15% when you drive it of the lot, Car Mag noted. That's why it makes sense to buy pre-owned. The key is to find a vehicle that is as close to new as possible. A later model that has less mileage, for example.
"Purchasing a car that's a few years old and loaded with features can potentially cost less than buying a newer vehicle that only comes with basic features," said Darren Newberry, senior vice president, store operations at CarMax, according to NBC News.
2. Tools. With so many used tool boxes and tools for sale, it makes little sense to splurge on a new kit. Before heading over to a hardware store, stop at your local pawnshop, the ideal place to pick up tools for less money. "A lot of times they're coming from trade because people change jobs," Brent Shelton, online shopping expert for fatwallet.com, told Reader's Digest.
3. Children's clothes. Any parent knows the struggle of having to keep up with their child's growth spurts. Replacing clothing every few months can be costly, especially if you are buying new. Opting for secondhand, or pre-loved, clothing is a great way to save some extra cash. Personal finance website Money Under 30 recommends browsing thrift stores, where clothes have typically been worn less.
4. Electronics. Two words: refurbished electronics. You can save hundreds of dollars if you go this route instead of splurging on a new phone or laptop. "The list [of what’s available] is getting longer," Chris Raymond, deputy editor of electronics at Consumer Reports, told NBC. You can pick up refurbished phones, laptops, and computers from Apple and Samsung, which sell the products on their websites.
5. Sports Equipment. Certain sports don't come cheap, especially if you are buying the equipment new. However, if you are prepared to buy second-hand you could save hundreds of dollars. The best part? "If you find out you don't like it, you could sell it to someone else and save money in the process," Shelton told Reader's Digest.
6. Kitchen appliances. If you are prepared to do a bit of research, you can save quite a bit on larger kitchen appliances by purchasing them second hand from private sellers on Craigslist or eBay. For smaller kitchen appliances, most older models that you will find for sale were designed to last, Money Under 30 noted.
7. Furniture. If you time it correctly, you can pick up good quality used furniture at bargain prices. Shelton advises shopping during that tax-season, holidays and spring-cleaning time, when people tend to downsize.
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