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August 11, 2017

Buying New Vs. Used : Pros & Cons

Buying new vs used is an aged old dilemma, and it applies to a lot more than just cars. This is something you have to consider when shopping for everything from houses to lawnmowers, and making the right decision can make or break your finances. While some things should always be purchased new (stop going to garage sales for toothbrushes!), you need to carefully consider the pros and cons when you make a large purchase.

Pros of Buying Used

Obviously, the top reason to buy used is to save money, but there are other benefits. When you get something second hand, it is thoroughly quality tested. If it survived the previous owner, then chances are good that it was built to last. Used is also the best way to get your hands on stuff that isn’t made anymore. Whether you want a classic muscle car or vintage tools, sometimes the old adage is right, and they really aren’t made as well anymore.

Cons of Buying Used

This biggest downside to this approach is reliability. If you’re buying from EBay or Craigslist, then you really don’t know if the seller is trustworthy. Even if they are, used products rarely come with much in the ways of guarantees and warranties. If you want to make money (or save it in this case), you have to take risks.

 Pros of New

Warranties and certified sellers can add a lot of confidence to a new purchase. More importantly, this is the path to ultimate satisfaction. The newest cars and appliances have all of the extra features that you don’t need but really want. Building a new house lets you customize it exactly the way you want it. If you can afford it, new is always a compelling route.

Cons of New

You already know that new stuff costs more. You also know that newer isn’t always better. The latest technology is never fully debugged, and even less complicated devices might be using cheaper materials or cutting manufacturing corners. Most of all, when you buy cutting-edge stuff, there’s little feedback to know if it really performs. Reviews and feedback take time, so if you want to avoid buyer’s remorse, discretion is your best friend.

Do you always buy used, new, or do you buy a combination of both? Tell us in the comments!

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