You’re Wasting Your Money If You’re Buying These 14 Things in Brand-New Condition
Used items can be the same great quality at a fraction of the price.
There’s a good chance exercise equipment like treadmills, ellipticals, and dumbbells, are still in good condition. “Many people buy these items with the intentions of starting a regimen but fall off quickly and then try to unload these bulky goods that take up too much room,” says consumer and money-saving expert Andrea Woroch. Just make sure to research the brand and test the equipment before you buy, she says. In addition to the usual spots like Craigslist and garage sales, a local gym that’s getting renovated might be selling old equipment at killer prices, says Woroch. Don't miss the 14 tiny splurges that's sucking tons of money out of your wallet.
Anything with a lifetime warranty
Even if an item isn’t in top quality, a lifetime warranty guarantees the company will fix or replace it. And you don’t have to worry about showing proof of purchase either, says Brent Shelton, online shopping expert for fatwallet.com. “If you are not the original owner, one of their marketing missions is that by [fixing or replacing], they can create new customers,” he says. Keep an eye out for used food storage containers, JanSport and EastPak bags, Fiskars scissors, Pampered Chef kitchen products, and Briggs & Riley luggage. Those companies will either send back the same item repaired, send a replacement, or issue store credit, says Shelton. Follow these 17 money-saving habits from people who are great savers.
There are so many used hand tools like hammers and wrenches on the market that there’s no reason to buy new, says Shelton. If you’re on the market, he recommends checking out a surprising spot. “Pawnshops are a great place for used tools,” says Shelton. “A lot of times they’re coming from trade because people change jobs.” Bonus points if you find one with a lifetime warranty. These are the 13 things rich people never waste their money on.
“Buying gift cards used may seem like an unusual idea, but it’s actually becoming more mainstream as a unique way to save money,” says Woroch. By using a site like giftcardgranny.com, you can save 10 to 30 percent on store credit at your go-to shops, or gift cards to give as presents, she says.
At the rate new technology comes out, a used phone or laptop from five years ago probably isn’t worth the buy. But last year's model could be a great value without making you feel like a dinosaur. For instance, Apple sells certified refurbished laptops and computers with limited warranties. Head to a big-box store or phone carrier for a refurbished smartphone, which are usually good quality, says Shelton. Beware of buying used tech from companies you don’t know though. “It’s already an off-brand, cheaply made product,” he says. “If it’s been refurbished, it’s already had an issue, so there’s a pretty good chance it won’t last very long.”
Equipment for specific sports, like skis or golf clubs, are also a good idea to pick up used, says Shelton. Beginners often buy the items but don’t stick with the sport, meaning the gear is still in great condition. And if you don’t want to be that person shelling out hundreds on a sport you or your kid doesn’t love, you won’t lose much on a used version. “If you find out you don’t like it, you could sell it to someone else and save money in the process,” says Shelton. Stop spending your money on these 8 vitamins that are a total waste of cash.
“New cars lose considerable value as soon as they leave the dealership’s lot, so it’s always best to buy used,” says Woroch. Find a model that’s a year old and doesn’t have many miles for a like-new ride that costs way less. You can even find cars on sites like Craigslist or eBay, but don’t take the price at face value. Always negotiate with the seller, especially if the price is way higher than a site like TrueCar or Kelley Blue Book estimates the value as, says Woroch.
You can save tons of cash on furniture by buying preowned instead of new, especially if you shop at the right time. Tax season, spring-cleaning time, and the holidays usually have the best prices and most options because people are often trying to downsize or sell those big-ticket items, says Shelton. Check out the deals at arnoldsofficefurniture.com for cheap, good-quality items, suggests Woroch. She recommends sticking with office furniture—find out why you should never buy these 19 things online like furniture.
Thrifting your clothes can save you up to 90 percent on everything from jeans to tuxedos, says Woroch. Baby clothes are especially good to buy used. “They’re going to outgrow it so fast,” says Shelton. There’s a good chance the original buyers over-bought or received the outfits as gifts, so items are often like-new or even unworn. Low price tags make consignment shops a good way to test-run trends that you’re not sure you’ll stick with, says Shelton. Even if you get sick of that pair of jeans by next year, you won’t waste much money. Footwear is the one exception. Shoes tend to wear around a person's specific foot shape, so a used pair probably won't be too comfy, says Shelton. These are the things you think are cheaper at Walmart, but aren't.