Wednesday, October 19, 2005

10 things you shouldn't buy new

Thought this was an interesting artice on MSN. Tells you how you save a boatload of money, by buying these 10 things used.

1.) Books, books, books
The reality is that most books don’t get read more than once, if that, and they’re astonishingly easy to find used at steep discounts -- if not absolutely free.

DVDs, CDs and videos
The list price for Quentin Tarantino's most recent film, “Kill Bill, Volume 2,” is $30, and you can get it new for about $20 from Buy from one of the retailers selling it used on the same site, though, and you’ll save at least $10. You can find similar deals online for videos and CDs. Other good hunting grounds for purchase of used items: movie rental chains like Blockbuster; used record stores; yard sales.

Little kids' toys
Parents know: it’s all but impossible to predict which toy will be a hit and which will lie forlorn at the bottom of the toy box. So rather than gamble at full price, cruise consignment shops and yard sales for bargains.

Fat markups on most gems (100% or more is fairly common) means that you’d be lucky to get one-third of what you paid at a retail store, should you ever need to sell.

Sports equipment
We may buy everything from badminton rackets to weight sets fully intending to wear them out, but too often they wind up collecting dust. Buy someone else’s good intention and you’ll save some bucks.

You could call these a notoriously lousy investment if you could call them an investment at all, but you can’t -- because what real investment is guaranteed to lose 30% to 70% right off the bat? That is, unless you buy used. There’s a huge number of folks who caved in to three hours of hard sell and are now desperate to dump their shares. For more details, read "Get the best deal on a time share."

The average new car loses 12.2% of its value in the first year, according to; on a $20,000 car, that’s $2,440, or more than $200 a month. Some cars depreciate even faster, depending on demand, incentives offered and other factors.

Software and console games
Buy used, and you’ll pay half or less what the software cost new. Console games like those for the Xbox and Sony PS2 that list for $50 new, for instance, can often be purchased used for $20 or less a year after release.

Office furniture
Built to take a beating and last a lifetime, good-quality office desks, filing cabinets and credenzas are relatively easy to find even when a recession isn’t cratering the local economy.

10.) Hand tools
Well-made tools with few or no moving parts -- like hammers, wrenches, shovels, hoes, etc. -- can last decades with proper maintenance and are relatively easy to find at yard sales. If you’re not going to use a tool frequently, you may be able to rent it or borrow from a friend or neighbor rather than buying something else to clutter up your garage.


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