There’s More To Saving Money Than Buying Cheap

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We’re all keen to save money where we can. Whether we’re millionaires or counting the pennies at the start of every day, we do what we can to boost our bank balances. That’s a fact.

Hence, we go crazy cutting costs. It makes sense, right? You can’t get a real grip on your finances until you sweat the small stuff. A dollar here or there will soon add up to a lot of lost money if you aren’t careful.

With this in mind, many of us turn to second-hand alternatives for expensive stuff. Every little counts, and all that. And, over time, opting for second-hand options stands to save you a lot of money. Doesn’t it?

Yes, and no. In truth, getting wise with second hand could be excellent news for your bank balance. But, getting this wrong could also end up costing you more than a new purchase. Not only will you have to pay for the item itself, but also for repairs, and perhaps even a new version in the end. To avoid that eventuality, consider the following ways to get wise with second-hand shopping.

Know how much it would cost new

Whether you’re buying a car or a couch, check how much it’d cost new. This is the only way to ensure you’re getting a bargain. With that figure in mind, you can ensure you aren’t paying above the odds. You can also compare costs when it comes to condition. If a second-hand purchase is $100 cheaper but on its last legs, you can be pretty sure it’ll cost more. If, however, your second-hand pick is practically new and costs a lot less than you’d pay otherwise, this is a no-brainer.

Check quality

You also need to check the quality of any second-hand buy. At the very least, failure to do this will end up costing in repairs. And, those will sometimes be more than the thing cost in the first place. When it comes to things like bike bits and car additions, you also stand to face lawsuits if you don’t do this. As can be seen from sites like http://www.aitkenlaw.com/motorcycle-accidents/, faulty bike parts are a leading cause of motorcycle accidents. The same can be said for anything to do with your car, house, and much more. And, that’s obviously going to cost more than you saved. So, make sure to check every inch of that purchase before parting with cash.

Consider age

Last, but not least, you should consider the age of a second-hand item. After all, a thirty-year-old tire is never a wise buy, even if it is half the retail value. Don’t believe a seller with this, either. Do your research into signs of age on sites like www.tirebuyer.com, and look out for them yourself. If something is past ten years old, think hard about whether it’d last you long enough to justify the expense. If you’d have to replace in two year’s time anyway, you may be better off just buying new.

 

 

This is a contributed post

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