If you are trying to save money, switching from brand new goods to used items can make a lot of sense. Buying used does not always make sense, but exploring the pre-owned market is one of the best ways to save on many different classes of products. These 5 types of consumer goods are particularly good “candidates” for the used market.
Buying a brand new car rarely makes financial sense. Vehicles depreciate rapidly, often losing thousands of dollars of value in the first month of ownership. Buying used cars, trucks, or SUVs for your business or personal use allows you to benefit from that very depreciation and save a lot of money.
Look for a vehicle with low mileage and full-service records. Many dealers showcase these cars, and they are widely available in the private market as well. As long as you have a mechanic thoroughly check out the vehicle, it should be just as reliable as a new one. If you buy from a dealer, you may even get a warranty that is comparable to the coverage on a new car.
2. High-End Furniture
If you have your eyes on a well-made brand of furniture, buying from a consignment gallery or private seller could save you hundreds of dollars. Expensive well-crafted furniture is worth the price since it can last far longer than more cheaply made pieces.
Even so, the sticker price can be hard to justify. Buying used makes a lot more sense, especially if you are furnishing an entire home or apartment. Consignment furniture galleries get some great furniture at even greater prices. If you do not mind dealing with a private seller, you could save even more by checking out the online classifieds.
3. Tech Gadgets
You do not have to be an early adopter or spend a lot of money to get the latest tech gear. The people who are early adopters are always looking for the next big thing, and they are often willing to part with their used gear at low prices.
You can find a host of almost new iPhones, iPads and other high-end tech gear at online auctions, in classified ads and even in stores. These devices have all the great features early adopters were willing to stand in line for – and you do not have to break the bank to get them.
4. Backyard Swing Sets
A full wooden backyard swing set can cost thousands of dollars, and even a simple metal model can set you back hundreds. That is a lot of money for something your kids may only use for a season or two. The fact that backyard swing sets are so quickly outgrown may be why there are so many used ones on the market – often at prices less than half what a new one would cost.
You will need a way to transport the swing set, and you may need to supply some elbow grease to remove it from its current location and install it in your own backyard. But once it is in place, your kids will love it just as much as a new one, and you can take the money you saved and put it in their college funds.
If you have a kid heading off to college, you will soon learn how expensive textbooks can be. The good news is that used textbooks are widely available and much cheaper. College students can buy and sell used textbooks through specialty websites, or just post notices on the bulletin board. Either way, buying used books makes a lot of sense and can save you a lot of money.
Parents can save money on their own reading by buying used books. Libraries hold regular book sales to raise funds, and those sales often attract the latest bestsellers and other interesting reading materials. You can also find great used books at yard sales, flea markets, rummage sales, and online.
Maximizing your dollar is very important for gaining and maintaining wealth. If you have a small business and you need help keeping track of your expenditures and revenue, feel free to contact us. At Bookkeeping Confidential, we specialize in assisting you to realize and maximize your profits.