We all have to fight the urge to buy the newest release of everything. The newest iPhone, the newest video games, or the newest appliances. Is buying new the wisest use of your dollar? In most cases it is actually a waste of hard earned cash that can be used for other things like, say, a vacation. Here are five things that you should never buy new, no matter how strong the urge is.
Cars are notorious for losing as much as 50% of their value within three years. Why be the chump that tosses that cash out the window? Also, any recalls or common issues will have become apparent after three years and will have been fixed before you buy. Used cars are really a win-win for savvy shoppers.
Video games. With attention spans being as short as they are, used copies of the latest games are usually sitting beside the new ones for an average of 25% less.
Books of all kinds depreciate quickly once they are bought. College textbooks are only needed for one semester/quarter, so there are plenty available and offer a great way to save hundreds per term.
Even if it is your first baby, buying everything new is madness. Generally speaking, people maintain their baby items in excellent condition, especially furniture. You can save close to a thousand dollars buying baby items used.
The cost of exercise equipment is astronomical. Buying used can save you hundreds for one piece of equipment.
If you are careful, you can have everything you want, while paying as little as 20% of the original value.