Should You Buy New Or Used?

Buying used items can save a great deal of money, when done properly. Personal finance guru Gregory Karp suggests several factors to consider before buying items with wear and tear:

  • Savings. Above all, consider whether the savings justify buying used.
  • Buying quickly depreciating items can be the best bargains. Cars can lose 30% of their market value in one year.
  • Ewww factor. Toilet seats, for example, should be purchased new.
  • Used quality. Books and movies usually age well.
  • Trust. Do you trust the seller? Consider if the item has been cared for or neglected.
  • Uncertainty of use. Buying used is perfect if you are starting a new hobby, but aren’t yet sure if it will keep your interest.
  • Complexity. Simple items with few breakable parts, like hammers, are ideal.
    Sites like Craigslist and eBay have made many of us experts on buying used items. What tips do you have? Tell us in the comments. — CAREY GREENBERG-BERGER
    Buying used saves dollars, makes sense [Chicago Trib]
    (Photo: Mussels)