Nine Things You Shouldn't Buy New
There are a number of things I would never consider purchasing secondhand due to the creepiness factor. Sorry, but I just couldn't do it. That list, however, is quite short. Now more than ever, the vast secondary market in this country is loaded to the gills with great bargains on things that are just like new.
Timeshares. Most people I know who own a timeshare regret having purchased it new. No wonder. They are guaranteed to lose 30 to 70 percent of their value right off the bat. If you are convinced that a timeshare is for you, buy it used as a resale. According to TimeSharesUSAResales.com, a site that deals in the secondary timeshare market, you will save an average of 67 percent off the new price.
Pets. Buy a purebred puppy from a breeder in California and you will spend at least $700, plus vet bills. Adopt a previously owned puppy from the animal shelter for about $175 including spay/neuter, vaccinations and fees. Savings? Oh, about 78 percent, according to SmartMoney.com.
Software and console games. Games for consoles like the Xbox 360 and Sony PlayStation can often be purchased used for half-price at stores like GameStop.com or SecondSpin.com. Ditto for popular software. Sure, you will have to wait awhile after the product's release, but by then you will know for sure which game or program is a winner, and which are considered losers.
Office furniture. Sadly, many start-up businesses fail before the second year, and many of them invested in fancy furniture. Never buy new office furniture. Check Craigslist.org or local classifieds to find the goods.
Sports equipment. Lots of people buy all kinds of sports equipment, from basketballs to ski outfits and everything between. They plan to use all of it, and there it sits gathering dust. Find a Play It Again Sports consignment store in your area at PlayItAgainSports.com or check out yard sales and newspaper ads for the great deals.
CDs and DVDs. Used CDs, DVDs and books are easily available. Find the latest releases in pristine condition at discounts of 30 percent or more at websites like Half.com and Abebooks.com. Even if you think you cannot wait, take a look to see if, by chance, what you want is available used.
Cars. Want to know what happens the second you drive that new car off the dealer's lot? Edmunds.com says it loses about 12 percent of its value. That is horrible. If you just financed it for 100 percent of its value, you are upside down before you can even show it off to your friends. Why not let someone else take that hit by buying a late-model used car?
Jewelry. These days, when people are down-sizing and liquidating in droves, you can find great bargains on previously owned fine jewelry at pawn shops for half-price or less. Just make sure you are dealing with a pawn shop that has been in business for a while and has developed a good reputation in the area.
©Copyright 2010 Mary Hunt
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