There will be an ever-present question you have to ask yourself through time, and that is – should you use your money for new or used items? And the answer will almost always be a resounding “it depends.” So without a hard and fast rule, that means you have to do some thinking for yourself in each situation.
What about when it’s time to buy a vehicle? How about if you need high-end clothing for one or two specific events? Should you ever buy used shoes or other pieces of clothing that you need to break-in? And then there’s always the matter of appliances and furniture. And the answer will still be that it depends on the context.
Time To Buy a Vehicle
If you’re looking to buy a car, one of the first things you need to think about is if you want to buy a new car, or if you want to buy a used car. And there are pros and cons both ways. Buying a new vehicle usually gives you a great warranty. There won’t be any dents or scratches that you don’t know about. If you take care of it from the very beginning, you’ll know that it’s in good shape. But all of that comes at a cost. If you choose to buy a used car instead, you can save tens of thousands of dollars and have just as good of a driving experience.
If you choose to buy a used car instead, you can save tens of thousands of dollars and have just as good of a driving experience. The same principle just as well when you choose to go for used luxury cars models from Mercedes, BMW, or audi essex for that matter. But how is that possible? The simple reason is that cars tend to depreciate by around 40% within the first year itself, but used cars depreciate at a much slower rate. Besides, insurance and registration charges would cost your lesser than what it would for a new car. So, buying a used car would be a more economical decision than a new one.
A wedding is coming up. Do you buy a new tuxedo, or do you buy a used suit? If this is a one-time deal, and no one is going to care that it isn’t brand-new, the easy answer is that you should always go for a used one. Or, in a similar vein, you can work with a rental. Any situation where you’re only going to use something once or twice, and it costs a fortune new – those the situations where going with used things will usually work better.
Shoes and Other Break-In Items
Most people are very picky about their feet. They want shoes that are custom fit to themselves. And that’s why it can be trouble buying used shoes. Especially if you’re going to be running in them, working in them, or even just wearing them a lot, it’s usually better to spend as much as you can afford on an excellent new pair of shoes.
Appliances and Furniture
With appliances and furniture, it’s a toss up. If you don’t have a lot of money, you can get great appliances for really cheap, but they might not look great, and they might not last forever. On the other hand, if you’re ready to invest, buying the latest appliances with the latest technology can be a great way to improve the value of your living situation.