Though the Get Rich Slowly community has expanded in the past couple of years, there are still a few folks who have been around since the beginning. It’s always a pleasure when one of them drops me a line. Last week, Vintek — who contributed this introduction to mutual funds nearly four years ago — sent me an e-mail to let me know how he’s doing, and to share a recent article he liked.
My pals over at Wise Bread have apparently struck a syndication deal with Yahoo and U.S. News. As part of that, they’ve recently posted two interesting articles: one listing 21 things you should never buy new and one listing 20 things you should never buy used.
Things you should never buy new
Here are some of the items from Wise Bread’s list of things you should never buy new:
- DVDs and CDs. I agree — to an extent. If a movie or album has been out for a year, there’s almost never a reason to buy it new. There are tons of sources for finding used media, so you can almost always find an older item. Plus there’s the public library. But if you absolutely have to watch Glee, you don’t really have another option than buying new. (I download from iTunes, but it’s the same thing.)
- Books. Same as with DVDs and CDs. I should note, however, that you can almost always find used copies of even new items by looking on Amazon.
- Jewelry. “Depreciation hits hard when you try to sell used jewelry,” writes author Lynn Truong, “but as a buyer you can take advantage of the markdown to save a bundle.” She suggests checking out estate sales and reputable pawn shops.
- Maternity and baby clothes. Amen! Two weekends ago, Kris journeyed north for our favorite neighborhood garage sale. We wandered past nearly 100 yard sales, many of which had baby clothes for sale. All of our friends with kids are eager to pass on Jack and Jill’s old clothes when they’re finished with them. There’s no reason to ever buy baby clothes.
- Cars. I know that not everyone is a used-car type person. Until buying my Mini, I steered clear of used. But at the same time, I understood that I paid a premium for that new car smell. Buying used cars is a great way to save a ton of money in one blow.
- Hand tools and gardening supplies. Though I agree that you can find everyday tools for cheap at yard sales, it can be tough to make your needs match the opportunities. When you need an orchard ladder, you need an orchard ladder — you can’t wait until the next time you see one at an estate sale. The best thing to do is plan ahead as much as possible, of course, but I still find that I end up buying most of my tools new.
I agree with most of the items on Truong’s list of things you shouldn’t buy new, but I’d add a few others.
If you’re patient, you can usually find power tools for sale at yard sales or on Craigslist. I just picked up a belt sander at the community garage sale, for example. Craigslist is also a great source for furniture, especially if you’re not picky. But most of all, you should never buy small kitchen appliances new. Thrift stores and yard sales are packed to the gills with microwaves, toasters, bread makers, and their kin. Why pay thirty bucks for a toaster when you can pay three?
I should also note that I haven’t bought a new sweater in years. I’m able to find perfectly good sweaters for two or three bucks at yard sales all the time.
What about you? What are the things you never buy new?
Things you should never buy used
Here are highlights from Wise Bread’s list of things you should never buy used:
- Laptops. Whoa there. I disagree with this one. I’ve bought used laptops before, and I’ve sold three on eBay. (Plus I have another one I need to get around to selling!) I’ve never had a problem, and have never heard any of my buyers complain. Also, author Amy Lu is wrong that you don’t get warranties when buying a used laptop. At least with Apple products, you can transfer the warranty.
- HDTVs, DVD players, and digital cameras. Again, I disagree with this. Lu writes that you don’t want to buy these items used because you want the warranty. But I’ve bought a used digital camera before, and know people who have bought used DVD players. These things work fine.
- Camera lenses. I really disagree with this. Lu rightly notes that the lens is the most important (and expensive) part of an SLR camera system, but you can find great used lenses for much less than new.
- Hats. I don’t really agree with much in this list, apparently. I’m a hat wearer. Sure, most of my hats are new, but I’m always on the lookout for used hats. For one thing, my favorite hat styles are tough to find new.
Judging from reader comments, others had a problem with Lu’s list of things you should never buy used. It reads to me more like a list of things that Lu doesn’t want to buy used, not a list of things that are actually problematic to buy used. But maybe I’m wrong. What do you think?
Actually, I’m curious: Are there GRS readers who never buy used stuff? And are there readers who try to never buy new stuff? How do you decide what to buy new and what to buy used? With me, there’s generally no rhyme or reason. If I think it’s a good deal, I’ll buy it used. But if I want something pristine for some reason, I’ll buy it new. (Of course, often the best choice is to not buy it at all!)
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My girlfriend and I actually go out and FIND a lot of our furniture. We live in a major city, so your mileage will definitely vary, but especially during spring cleaning (such as now) you can find some amazing things people are just throwing out. Both of our desks were found in the alley, in perfect condition; if you purchased them at some hip mid-century modern boutique they would easily be around $300 each. We also found a large steel sailboat sculpture in our alley that turned out to be made by an artist from the 70s and now goes for around $1000. People really don’t know what they have.
Furniture is much better found or vintage… new furniture is so ugly. Do you really want your home to look like a page out of the Ikea catalog or look like the homes of everybody else you know? Plus, modern furniture is definitely not made like it used to be. Most of the furniture I own could easily outlast me… yet I’ve spent very little on it. In fact, I’m sitting on a wooden chair right now that’s from at least the 50s, maybe older, is in great condition, sturdy and beautiful, and I spent $10 on it at a garage sale. At that same garage sale I got three “mid-century modern” boxy designer chairs that go for $150 each at the boutiques… I paid $25 for three. I try to buy all my furniture used now!
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With a lot of the issues of buying used (electronics that are clearly lemons, cell phones that won’t activate, software with non-usable registration keys) it helps to make the purchase with your credit card through Paypal (not the Paypal “Instant Transfer”, an actual credit card purchase through Paypal).
That way you have two layers of security – first, you tell Paypal about the problem. Sometimes they hash it out with the seller, and you get your money back.
If that doesn’t work, call your credit card company and explain that person x sold you a cell phone that won’t activate, software that can’t be used, etc. Credit card companies take a very dim view of sellers trying to take their customer for a ride, and it’s a pretty good bet that you’ll get your money back.
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I have to disagree on always buying a used car. I was planning on driving my car until it ran into the ground, but someone rear ended my car and I had to replace it. The insurance gave me a good settlement, but shopping around, I found it very hard to get in and drive anything that I didn’t put the bulk of the mileage in. I finally got a Chevy Malibu new (none of the bells and whistles since I commute to work via bus most times) and I was very happy. Buying a new auto, especially from GM, in the past year and a half has been a bargain. If you bought a pontiac or santurn you got a HUGE deal! I had a nice chunk of change taken off my taxes because I was able to write off the sales tax on top of 20% off MSRP.
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Well, food, but that’s obvious.
If it depreciates in value (which is just about everything), buy used so you don’t take the hit.
Or, if the amount of money that you are going to lose is an amount that could fall out of your pocket and not affect your financial future, then buy new all day long.
The single most expensive item that people buy new is the automobile.
Divide the annual depreciation over 3 years by 36 months and add that amount to your monthly payment and you’ll see that your “affordable” payment suddenly became stupid expensive.
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Honestly, there’s really nothing I wouldn’t buy used (with the possible exception of panties!), and pretty much everything in our home is second-or-more hand. Used stuff seems to be more acceptable to mainstream people here than in the US.
Our bed was purchased used (and is the most comfortable thing I’ve ever slept on!), but bedbugs etc aren’t a problem here. I have good bras I bought secondhand – new ones here often run to the $90 mark, which is simply too much money to spend.
Everyone buys their cars used here – even the very wealthy – because the vast majority of our cars are imported from Japan in a gently used condition. Our 1994 Toyota Corona is not considered to be an old car, there are plenty of cars from the early eighties on the road still going strong.
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i scour thrift stores. my recent salvation army, goodwill, or secondhand store finds:
lane maple cedar chest from 1952 $125
pair of size 24 dark wash jeans with tags still on
lane bryant peridot green blouse
tiger maple eldred wheeler chippendale chest of drawers new $2200, i paid $225.
and i almost bought a pair of “in style” worn once ferragamo pumps for $10 which retail at neiman marcus for 500.
i also seek clean, hardly used, birkenstocks. people buy them, wear them once and they end up the bottom of someone’s closet.
i buy used jewelry on ebay.
i find and use “side of the road” furniture all the time
i will not buy used upholstered furniture, bedding, watches, or cars.
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Kate @105: Where is “here?”
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For those saying that they would never buy a used mattress I have one question. Have you ever slept at a hotel?
We bought a “used” mattress on craigslist – the couple bought it for 2k+ and slept on it for two months before figuring out they could repair their sleep number bed.
I had 2 used mattresses in college (one awesome, one really crappy – its in my guest bedroom with a mattress topper) – but they were free and I prefered traveling to furniture purchases back then.
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As a professional fiction writer, I might be biased here, but when you buy used books you don’t support the author at all. So if you have favorite authors whose work you love, buying new books supports them, since we only get money from new books.
(using the library is good though, because if a book is popular the library will order more copies, which is good for an author
)
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I agree on the never buy used is a vacuum cleaner. Unless you can test it right then and there. Otherwise if you don’t, you will get it home only to find that when you plug it in, it makes the room smell like someone’s stinky wet dog and it doesn’t even suck very good. Lesson learned, no used vacuum cleaners for me. Unless you are at my yardsale, then it’s perfectly fine to buy one
The smelly dog one went into the trash.
I also would not buy a used toilet plunger or toilet brush (yes, I’ve seen them for sale at yardsales).
I would not buy a used mattress – I’ve heard some cities have a big problem with bedbugs. I have however, gotten a free boxspring thru Craigslist.
But other than that, I am pretty flexible about what I will buy pre-owned.
I’ve bought both new and pre-owned cars. Bought my house new.
I am the Imelda Marcos of Yardsale Shoes.
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@Luke-hehe well I tend to buy e-books these days, however if I need to buy a physical book then I do buy it new
lol
–
‘I love to read and I will buy new e-books’
I didn’t realise there was any other way to buy an ebook?
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I don’t mind buying clothes for me & my kids at thrift stores etc because I can wash them.
But small kitchen appliances full of someone else’s toast crumbs and grilled cheese drippings? Yuck! Besides, a brand new toaster is only about $10 at Target so you don’t save much by putting up with the used version.
Oh, and used maternity clothes? A terrible idea! 1) Styles change, and most maternity clothing tends not to be styled as basics but is very era-specific in style. (or perhaps it’s just the used stuff? the basics get worn out so only the weird stuff is in thrift stores?) When you’re big as a house, the last thing you need is to be stuck with nothing to wear but a flowerly cotton jumpsuit from the 1980′s with a big floppy bow on it.
2) You will wear your maternity clothes into the ground so you have to buy new if you want them to last through your pregnancy. When you only have a few outfits you will wear each 2-3 times a week. Also, you can expect to wear the maternity clothes not just through the pregnancy but also for the first 3-6 months after you have the baby. Might as well get something you like and something sturdy and new that can take it.
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People still buy CDs? I buy all my music on iTunes or Amazon (digitally of course). So, I guess that is “buying new” but digital downloads are always cheaper than the CD.
Same goes for e-books but I do not buy books very often. I would buy used textbooks all the time in college.
I should probably buy used electronics more often. My wife and I just bought a DSLR yesterday and it is brand new.
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I also don’t understand never buying a used mattress. Sure, I wouldn’t buy one that was stained or really old, but oftentimes people sell perfectly good mattresses on Craigslist. I just sold one yesterday that was taken care of and always had a mattress pad on it. We just had no space for it anymore. Many people can’t afford a new mattress, especially a good one. I slept on a used mattress all throughout graduate school. Of course, I live in an area of the country where bed bugs aren’t a problem. I might think differently if I did.
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I tend to buy new items most often as I don’t have time to go garage saling. I work Monday – Friday, and all the good stuff is gone from the garage sales by Saturday morning. For my kid’s clothes, I find that I can get brand new stuff on clearance for about the same price I would have paid for an old faded used item at a garage sale. I tend to try to get the new clearanced items rather than the used garage sale or thrift store items. Also, since my husband and I believe that time is money too, we don’t choose to spend the little free time away from work shopping around to get the deals at garage sales and thrift stores. We would rather spend that time with our kids instead.
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I buy a lot of used books, but it depends on a few factors. I read a lot of non-fiction and their prices don’t fall as fast. So if a book is brand new I might as well buy it new, read it, and re-sell it on half.com. However if a book has been out a while I check used prices – if there is a $4 or more difference (the cost of shipping) I will buy used. If not, I buy new (get free shipping from amazon) and re-sell the book once read. All of this is assuming the library does not have a copy of the book I can get for free.
Cars are another thing I buy used. However, my husband does not. I buy luxury cars that are a few years old – I get quite a break on the price. He drives more common, but very popular cars (think Camry, Civic, etc) and when you compare prices of a new model and with those of a used car it almost isn’t worth it to buy used (unless you are getting a well used car). I really was surprised to see this, too, as I always thought used was the way to go. Either way we both drive our cars for 12+ years or 150k+ miles and we always pay cash.
So I find buying things used is usually a matter of factors. If all the factors add up to a bargain for something I need (or occasionally want) then I’ll buy used.
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@112 Ebay
I did not have any of the problems you’re describing. (And I was a size 6 two weeks after giving birth. Have not been that thin since.)
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@Karen in MN
I’m currently 5 weeks postpartum and am already in my normal clothes. Also, I totally disagree about maternity clothes and the wear they get. You often have to buy them for multiple seasons, which means that they are not even worn for that long. For instance, I have some nice shirts that I bought in April and only wore for a month and a half. If I sold them on ebay now, they would certainly not be out of style and would be like new. Many women sell their maternity clothes right away after they give birth. I was given some clothes that have been handed down twice already and they still look good. It is best to buy used maternity clothes in large lots on ebay. You might pay over $100, but you will get a lot of clothes for the money.
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As a professional photographer, there is NOTHING wrong with buying used gear. Fact be told, there are some really reputable online sites that specialize in used gear and a handful of forums that are trustworthy too.
While a DSLR body has more likelihood to fail on you, many people buy them and realize it’s not what they wanted after two months and go back to a p&s, that’s a prime time to save a few hundred bucks. Lenses, as well as they are well cared for should less several decades with only minor service required for them, if ever at all.
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@Joless,
The library, as other posters have noted, is a fantastic way to discover new authors, and it doesn’t cost you a dime. Even a $.01 book on Amazon costs you a few bucks for shipping. In fact, the library is even more likely to turn on new readers because more than 2 people can share the same copy – and after a used book has been resold a time or two, all that shipping and shelf wear render it fairly worthless on the secondhand marketplace.
To me it is more about aligning spending with my values, which include supporting creators of content.
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Wow, I tend to buy everything new but then I don’t buy much. For electronics I only buy when one breaks, I currently have two VCR/DVD players and tape alot because I can’t see getting a DVR/TIVO while I have functioning equipment (I get a lot of greif from my friends about it, LOL).
When the TV dies I will purchase a new better one, they arent’ that expensive.
I have purchase used books on amazon.com when it is the only available, usually though I want the book now and don’t want to wait.
I suppose I would buy used clothing if it was something that I really wanted but I just purchased 5 items from Kohls that were on sale and I had a coupon for 20% off and free shipping so only spent $89. I thought that was great since I know they are my size and I can return them easily.
I guess I don’t have an issue with purchasing used,except for hygiene issues, I just haven’t found anything used that I want (don’t buy CD’s or DVD’s I just borrower DVDs if I want to watch something or wait for it to be on TV, LOL).
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I was wondering about those who think that using a toaster that another person has used is “icky”. What about a hotel where you toast a bagel at breakfast? It is being used by a lot of people.
And hotels…you use used sheets and mattresses every time you sleep in one.
Almost everything is okay for me to buy used except, like one person said, panties.
My husband bought one gem of a used laptop on ebay.
But I’m also finding as I grow older and need fewer things, that buying new actually takes less time. You may end up with less “stuff” if you buy new, and ONLY what you started out to buy. Yard sales present more temptations….
Thanks for the Glyde link.
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found a stiffel brass lamp at the goodwill today. 6 dollars.
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@Rachel — I’m not sure I totally agree. Sure, used books don’t contribute directly to the bottom line of authors, but buying them does contribute indirectly by decreasing the supply of used books (i.e., the more used books are bought, the more expensive they are and the more competitive the new book becomes).
Also, I’m not sure I agree with the idea of buying refurbished–refurb products, by definition, have broken once, and there’s no good reason they won’t break again. Sure, they’ve been repaired, but there’s nothing saying that they don’t have the same problems they had to cause the breakage.
I prefer to buy my electronics either new (in the case of phones or computers, things that get obsolete quickly) or used (like sound equipment, which will be good for years). I’m a bit of a headphone audiophile, and save hundreds of dollars picking up equipment used on Head-fi.
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For garden tools, if you need it right now and haven’t stumbled on a used one, usually a neighbor has one you can borrow – I usually don’t buy any tool unless we’ve borrowed it at least 2-3 times, because if not we obviously won’t use it too much.
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{gronk!} I saw that article and disagreed with many of the same things.
There used to be a camera store here that resold lenses used by professional photographers. Some were spectacularly expensive when new. They had been well cared for and they were great. In fact, I bought a used camera there once…loved it. I worked perfectly until the day my son bought me a digital camera. Kept on working, presumably, but it was love at first sight for the digital baby.
Hats? My closet is full of wide-brim hats from estate sales. Haven’t got a cootie yet. But I get a lot of compliments on hats that I couldn’t have afforded to buy new.
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I’ve been thinking a lot lately about whether I even need to buy half of the stuff I do (new or used) when I consider that most of it is only used occasionally and could easily be borrowed/shared. If you think about it – I spent $200 for a lawn mower and use it for 30 minutes a week. My neighbor did the same thing, as did every other neighbor in our neighborhood. Do we really each need one (Craftsman and Honda think so)? Why couldn’t we just share a few of them? Same with power tools, bicycles, books, coolers,vacuums, board games, sports equipment, camping stuff, movies, and a lot of other things… Lifehacker recently posted about a new website called NeighborGoods.net that allows you to inventory stuff you have that you’re willing to lend and search for stuff you need. Great idea if it catches on!
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Some power tools are probably ok used, but I would avoid cordless tools since the batteries can cos more than the tool in many cases. Really the same goes for laptops, batteries can be expensive.
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Konrad – for books, music, and movies (and sometimes also art, toys, and board games) we already have public libraries.
Lawnmowers are sort of a special thing – at least around here, the actual lawnmowing window is about an hour or two a week, outside of work hours, when it’s not raining or just finished raining – so even though we only use our lawnmower for 45 minutes/week borrowing might not work as well.
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I think that almost anything is game with hot enough water and a lot of disinfectant.
For those that wouldn’t touch anything used because of the ‘grossness’ factor fail to realize is that there are already others putting their bodies in those clothes in the stores by trying things on. They are already fondling just about anything out there you are thinking of buying..and if you are really grossed out about stuff like this then you better just stop touching money altogether because if you think that is not the dirtiest thing around I don’t know what to tell you.
But with that being said, I also would never buy used underwear either…
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I’m going to have to disagree with those who think that buying used is not worth the effort. There is such a depreciation in used cars and used furniture alone, that it is way worth it to me to make an “effort” to find these items used in suitable condition. Of course, I buy all sorts of used items all the time, being a garage sale junkie. I do have to agree with never buying used hats, underwear, and swimwear. Buying that used is… Gross.
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I doubt I will ever buy a new car, and I would never buy used underwear. I was agreeing with everyone who said they would never get a used mattress, but then I remembered that we got our mattress from a friend who had been using it for about ten years. That was seven years ago and we’re still using it, so I guess I would certainly sleep on a used mattress, but I don’t think I would buy one from someone I didn’t know.
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Come to think of it, I probably wouldn’t buy a used mattress either–not so much because of the grossout factor, but a combination of depreciation and bedbugs. Depreciation because a mattress has a pretty clear usable life (ten years or so?) and a used one probably has half or more of its useful life gone, and bedbugs because they’re probably more risk than they’re worth–I’d had a friend who had to replace everything in her apartment because of a bedbuggy used mattress off Craigslist.
Not that I’m icked out by used hats or things of that nature–it’s simply that bedbugs can cost so much to get rid of, the risk/reward proposition just isn’t worth it.
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I prefer to purchase used not only for the cost savings, but also “green” friendly factor. The items that I do purchuse new are “un dee bahs” and socks.
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I’m not going to tell anyone to never buy a used CD, because I have done so many times and will do again. But do remember that musicians who fail to generate enough income (for themselves or their label/distributor) stop making music. And apart from the small percentage who are inescapable on the radio/TV/magazine covers, most working musicians are putting in a lot of overtime for a fairly modest living.
There are plenty of albums I will not pay retail for (or even half-retail for a legal download) as I know I’m only going to ever listen to them 1-3 times. But there are 6-12 artists/albums per year where I will make sure I pay full retail (as direct from the source as possible), for the purely selfish reason that I want the creators to supply me with another great album in the future.
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Wow, I guess I’m in the minority — I’ve bought several used mattresses, all of which I aired in the sunshine for a week and never thought another thing about it. I’ve bought almost all my furniture used, and I’ve found I can get much higher quality used furniture than I can possibly afford new, so it tends to last longer.
I’ve never bought used underwear, but that’s not to say I wouldn’t (I accepted about $200 worth of used — and washed — Victoria’s Secret undies from a friend last year). I’ve heard that argument about car seats, and I think it’s a bunch of crap, myself. I’ve bought new and used car seats, and it’s pretty easy to see if a car seat has been fractured — plastic shows if it’s been bent or pulled.
I guess I’m pretty cheap, but the good news is that we frequently get more for our used furniture/appliances on the resell than we actually paid in the first place by looking for great deals in the paper and on craigslist.
That being said, I don’t eBay anymore — got burned too many times by stolen stuff/broken stuff/scams etc., and eBay doesn’t have any controls at all, so we were left holding the bag. Otherwise, I’m game for anything used, and I find going through used clothing at stores very soothing – particularly when I find name-brand items for 25 cents. It’s like beating the system, one sweater at a time.
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Also, why is there so much guilt about buying used items, like we’re taking the food out of the mouths of manufacturers or something? I think this is part of the whole justification system of materialism in the United States. What really kills authors/musicians/etc is not the fact that they can’t sell albums, it’s the fact that 90% of the profit doesn’t actually reach them. That’s not to say that I don’t spend quite a bit on new books and e-books — I do — but there needs to be some skepticism here about starving artists who have multiple bestsellers and still can’t get a contract.
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I try my best to buy used when I can… but will settle for Big Lots or clearance. It’s new but at least it’s a lot cheaper than it would have been.
I generally won’t be electronics used. Definitely won’t buy underwear and socks used either.
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I would never buy a carseat used due to the fact you never know if the carseat was ever in an accident or how the previous owners treated it. That is your child that you are putting in that carseat. Safety first.
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I rarely if ever buy used video games anymore, and it costs much less this way. Amazon has been having great deals recently where you buy a game new and get a $20 gift card. Then once you are done you can sell it back to them for $40+, many times more then you paid.
For example I bought Red Dead Redemption on 5/13 for $59.99 w/ a $20 gift card. I traded it in on 6/2 for $41. Amazon covered shipping charges both ways and I used their packing material to send it back. I got to play a new game when it came out and in the end I earned money doing it.
As for electronics, if a item is good quality it should last, if not buy new. I wouldn’t buy a <$100 dvd/blu player used, but I had a Pioneer Elite DV-47ai which I used for 4+ years before selling it. Its still running fine for the person who bought it ~2yrs ago.
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http://money.usnews.com/money/blogs/my-money/2010/06/07/20-things-you-should-never-buy-used
Here is a much better article about what you shouldn’t buy used, and the reasons why. However I don’t mind buying soft goods in thrift stores (ex sheets) as long as I can wash them in hot water before use.
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