When it comes to spending money there are so many products out there it’s up to you as the consumer to make the choice on what to buy. But before you purchase something, do you consider all your purchase options? And we don’t mean the best way to get rewards or loyalty discounts, we’re talking about how buying new items may not always be your best purchase. That’s right, there are many items that you should consider buying used to be more fiscally responsible and get better value out of. Here’s our list of items that are better bought used than brand new.
- Car
Not only will you save thousands of dollars by purchasing a used car, you’ll also pay less tax, get a lower insurance rate and registering a used car in comparison to a new car will cost you less. New cars depreciate in value and quickly. The minute you drive your new ride off the lot it immediately becomes a used car and is worth substantially less than what you just paid for it. Next time you’re looking at a new car, look used first.
- Home
If you can afford it, it’s worth it. But for majority of us, especially living in cities like Vancouver or Toronto, buying a brand new condo or pre-construction home is a major expense to consider. New builds and pre-constructions tend to be more expensive than already completed and lived in housing. And in major cities, the pre-construction price already has the future appreciation price taken into account when purchasing. Buying a home that has already been lived in has the benefits of set prices when it comes to utilities and established neighbourhoods where you can get feedback from others saving you money in the long run.
- Textbooks/Books
This was a lesson a lot of us learned the hard way back during our post-secondary education after buying all new textbooks for thousands of dollars at the on-campus bookstore. And this lesson learned applies to any books you want to purchase today. Shop around! Places like Amazon have used copies available, or any used sale sites like Kijiji or Facebook groups will also be a great resource in trying to find those reading materials at a discounted price.
- Entertainment and Electronics
Everything from movies to electronics you can find on the same used sites mentioned above. Gaming systems and the video games to go with it, electronic accessories and parts are now available in used form for a discounted price. Take advantage of these normally expensive items that are available at discounted prices because as they saying goes, if it ain’t broke, don’t fix it. There will always be the newest and latest gadgets, but there’s nothing wrong with old and reliable either.
What are some products you like to buy new or always buy used? Let us know in the comment section below.
