8 Things You Shouldn’t Buy New

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We all love new things – this is a consumer driven society, after all! But new isn’t always better, at least not for these eight things.

When you get past the idea that everything much be new, you’ll realize that you have a much wider selection and greater value from the many used items that are up for grabs every day.

 

Jewelry

That shiny new ring you’ve had your eye on likely will cost you more than two, three or even six times what the seller paid for it. The truth is, jewelry has a markup of at least 100 percent usually, sometimes up to 600 percent on the actual cost of the gemstones and setting. Not only that, but if you turn around the try to sell the jewelry later, you’ll be able to get only about a third of that price back. Jewelry is not an investment, even if it is made with gold, so you can score beautiful jewelry simply by buying is second-hand.

Campers

Many families and couples buy a camper with dreams of driving across the country exploring, only to find that the camper sits unused for a few years. Many campers are for sale through dealers and classified websites with very few miles or years of use. If you’re planning to use a camper for just a few years – not live in it for decades – you’d do well to snatch up one of those bargains rather than buying something brand new with a significant mark up.

Houses

There is a lot to say about a new house – they are enticing. But in many areas, you’d do better to buy an existing home for two reasons. The first is that the quality of the building materials may be significantly higher than you’d find today – especially in homes built prior to the housing boom. And you’ll also be paying for a more desirable location in a lot of cases since new homes tend to be built farther way from the center of cities or towns where land is cheaper and more readily available. You may also be able to get more bang for your buck since an existing home may already have a swimming pool installed and many upgrades missing in a new home.

Cars

In the first year of ownership, your new car is going to lose about 12 percent of its value. Some cars lose value even faster than that. It can be a very expensive proposition to drive a brand new car off the lot. Fortunately, you don’t have to drive one off the lot. Instead you can let someone else buy the car new and then come in and buy it used just a year or two later. The car will likely still be under warranty and if you buy a late model vehicle, it’s less likely to have problems, especially if you get a mechanic to check it out ahead of time.

Video Games

A new video game can cost upwards of $50. Buy the game slightly used and you’ll be spending less than $30. Games for the Wii, Xbox 360 or Playstation 3 can be purchased both online and in stores new or in many cases used as well. If you have old games that you don’t play anymore, you can also trade those into many video game stores for credits toward new games as well. There are often sales and additional discounts on used games as well, which makes these even more affordable for families or individuals who enjoy gaming.

Books

If you’re looking for a particular book, you may have to shell out full price. But if you’re just an enthusiastic reader looking for new material, you’ll do well grabbing used books or even free books through ereaders, used book stores and garage sales. Even classified ads and resale shops will often have terrific deals on popular books. This is especially true for classic novels that students read year after year in school and inexpensive paperback books perfect for summer and light reading.

Movies and Music

With so many excellent streaming options now, there is really no need to buy your own music or movies. Don’t pay close to $20 for a new movie when you can rent it for just a dollar or two or stream it through a service like Amazon Prime or Netflix. Music is often available through videos on Youtube or on streaming internet radio stations as well.

Toys

Children move through toys at an astonishing pace. You don’t need to pay full price for toys when you can likely get the same toy for just a few dollars at a consignment shop, a thrift store or online through classified websites. Take your kids to the neighborhood garage sales and look for big scores on great toys for pennies on the dollar, and then if the toy breaks or gets left in the bottom of the toy chest, you won’t even break a sweat over wasted dollars.

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About Author

Rebecca holds advanced degrees in business and information science. She is a proud small business owner and balances her career with family and classroom instruction. She understands the real world of personal finance and how to make money work for you.


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