Used vs. New: When does it make financial sense to buy used items?

February 21, 2019 10:15 am

By Souqalmal

One man’s trash, the famous saying goes, is another man’s treasure. This is the reason discovering used items for purchase is a dominant way people around the world save money. It is obvious that acquiring everything fresh off the store aisles doesn’t put your cash to great use when you could be sparing a great load of money by running with resale objects.

The team has shortlisted seven things you could consider buying used instead of new at any opportunity you get:

#1 Clothes

Clothes are a standout amongst the best things to purchase used in light of the fact that they’re less expensive and generally, people have no clue about whether the attire you’re wearing is new or pre-loved. Certain websites offer sales channels for used clothes. Look to these websites when shopping for clothes next time. Garage sales, as well as neighbourhood thrift shops, are also good avenues to look for.

#2 Mobiles and other gadgets

You may believe you’re getting a good deal by purchasing something new that’s on a discount. However, you could end up spending more cash in the event that you compromise on quality. In case you’re an iPhone fanatic for instance, you can buy one that is utilised and conceivably spare hundreds of Dirhams. The same goes for other devices such as music players or cameras.

#3 Vehicles

From the minute you drive out of the showroom with a newly purchased car, it loses monetary value and steadily moves toward becoming a used vehicle at any rate. Depreciation will erode the car’s value by a hefty percentage in the first month alone. Purchasing used vehicles helps set aside extra cash for you and is frequently deemed to be a superior arrangement in the long run.

#4 Tools

Simple tools are essential things that can be purchased in used condition. Things like mallets, torques, saws, scoops can be crucial to have, but expensive when you’re looking to stock up on the best possible tools for your house. To acquire these tools from resale, check out local neighbourhood garage sales or websites where you can find used tools.

#5 Furniture

Furniture is another of those incredible things to purchase from resale. Buying new furniture isn’t worth the costs involved despite any potential benefits. Even when you get a low-priced piece of furniture, you need to consider that the cost of the object could be greatly marked up. To dodge this and spare yourself some money, look at resale stores in the UAE or even Facebook groups and communities to get great deals on used furniture.

#6 Books

Not every book you buy is going to end up getting displayed on your coffee table. Used books are always a great bargain, and you can buy them at less than 50 per cent of their original in-store price. Be it college textbooks or novels, there’s always a great deal to be had on used books. And the best part about buying a used book in a great condition is that you can list it for resale later and recover most of what you spent on it.

#7 Small appliances

Smaller appliances such as toasters, electric kettles and waffle makers can be bought on resale for just a fraction of their original price. When you’re shopping for such appliances online, make sure you check the item specifications carefully. You must also get all useful information from the seller beforehand like the user manual and warranty papers. You can also test the appliance before completing your purchase.

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AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.