I love all the new, shiny items I get when I go shopping. I love to find a great deal, score an excellent buy off the clearance rack, or pick up something for someone I love that I know they could really use.
However, I also have some hard and fast rules about things I won’t buy new off the shelf. Anything that depreciates in value as it ages is definitely at the top of my list. I also love a good bargain, so if I can find something I need that’s in great to excellent condition for considerably less than sticker store price, I’m going with the bargain.
If you usually buy everything brand new and you’re trying to stick to a budget or just revamping your finances, learning how to get a bargain on items you need and save money can be a huge boost to your budgetary efforts. Knowing where to start is half the battle, so we’ve created a list of our best “never buy new” items. See if you agree.
1. Exercise Equipment
Exercise equipment is never a good investment right out the door. If I could get my money back on all the equipment I’ve paid for over the years and only used a handful of times, I’d be so much wealthier.
People are notorious for making those New Year’s resolutions, purchasing very expensive equipment, and never using it. If you want to buy exercise equipment, look online for someone selling theirs. There is always someone selling equipment you can put to good use without the crazy expense of purchasing something brand new. You’ll save money and won’t feel quite as bad if you don’t use it. And if you do put it to good use, you’ll have the added benefit of getting a great deal on what you purchase.
2. Vehicles
One of the first rules in this category of budgeting that my husband taught me is that you never, and I mean never, pay full price for a vehicle. First, they will always depreciate in value. As a rule, cars are fickle, so it’s going to cost you to maintain them. You can almost always find the vehicle you want at a better price.
Yes, even paying a little less because the car has some mileage on it is still better than paying outright for a brand-new version. Customizations cost even more, and the tally keeps ticking. You can get a certified pre-owned vehicle that will have most, if not all, of what you want for considerably less than those that just rolled off the factory floor.
3. Lifetime Warranties
Lifetime warranties are like insurance. We pay for them “in case” something happens, but we rarely have to use them. Paying for a lifetime warranty assumes that something will happen, and it is a complete waste of money if nothing occurs.
Lifetime warranties often have a loop hole that absolves the manufacturer of actually paying for a replacement or refund, and stiffs the consumer at every turn. Instead of paying out for a warranty that won’t serve you, save the money toward a replacement of the item if you enjoy using it or need it for a particular task.
4. Hand Tools
Whether you like to work on cars or need to fix your lawn mower on occasion, hand tools are some of the most practical items you can spend money on as an adult. As such, they can be pretty expensive by the time you pay for all the tools you need. Hammers, screwdrivers, chisels, keyhole saws, wrenches, ratchets, and the like can quickly add up to hundreds of dollars.
If you’re looking to fill out your tool chest, find people looking to offload their tools. Estate sales are a great place to start, but garage sales are also a worthwhile stop if you have a weekend free. Hand tools do come in handy, but they don’t have to cost you an arm and a leg.
5. Tech Gadgets
We all love our tech, but no gadget is worth the price hot off the press. Being one of the first to own the newest Apple iPhone or Gabb watch is fun, exciting, and great in its own way. However, the sticker shock you feel is called such because it can really be shocking to learn how much these new gadgets cost.
If you want the prestige of owning an Apple, Microsoft, or other popular tech device, wait a couple of months after the newest issue is released. After that, look online for people who are selling theirs because someone always will.
6. Mobile Homes
Much like cars, mobile homes do not appreciate in value. No bank will give you an equity line of credit on a mobile home, and no matter the improvements you make, it will never be worth what you paid for it.
That doesn’t make a mobile home a bad investment, as they are often more affordable than an actual brick-and-mortar home. However, it’s something to consider if you plan on opening an equity line of credit at some point in your financial future.
7. Coffee and Espresso Machines
I will be the first to raise my hand if someone asks, “Who likes coffee?” It’s one of my great loves in life, and I enjoy it in many variations. However, only once in my life have I paid outright for a brand-new coffee maker. When it went out on me after less than a year, I realized that paying full price was not a smart financial move.
If you love coffee or espresso, purchase your machines used. They won’t last forever; when you need to replace them, you’ll save a bundle with used versions. You can use the savings on bags of your favorite java.
8. Sports Gear
When I was in high school, I worked part-time after school at a diner. I took some of my earnings and purchased brand-new knee pads, elbow pads, and volleyball shoes. It cost me a bundle, even back in the late 90s.
You might need to buy brand-new sports gear, like shoes. Everything else, like golf clubs, bats, baseball or softball gloves, batting gloves, basketballs, baseballs, soccer balls, and the like, can easily be purchased used and of good quality.
9. Furniture
Furniture is such a great buy when you can get it used. Even if it needs some tender loving care, it’s still much better to buy used. You can get that new recliner you want and reupholster it to look like a brand-new version.
Buying used furniture is almost always a bargain, no matter how nifty new furniture seems. You get what you need without paying full price on the showroom floor. This can be especially handy if you’re trying to furnish an entire house or apartment on a frugal budget.
10. Bicycles
Six of my seven children can ride bikes now, and if I paid full price for all of their bikes, it’d easily cost me in the ballpark of $850, especially if I included a bike for myself or my husband. Children who are learning to ride do not need brand-new bikes.
I’d say the only time to pay for a brand-new bike is if you’re a racer and need a custom bike created. Other than that, save your dollars and find decent bikes at a great price from online marketplaces like OfferUp or Facebook.
11. Clothing
Anyone with children knows how fast they go through clothes. Buying brand-new clothes will cost you a mint every time you turn around. While little ones are growing, buying them used, good-quality clothes will save you hundreds, if not thousands, of dollars.
My six daughters have handed down their fair share of clothes to siblings younger than they, and I always shop online for clothing bundles that save me money. Thrift stores and yard sales are also great places to find cheap, good-quality clothing. If you’re looking to save money, ditch the retail shops and find your clothes used.
12. Musical Instruments
My dad can play the keyboard and the trumpet, and I have a nephew who also plays the trumpet. Musical instruments right out of the box are not cheap; playing multiple instruments can make buying even more pricey.
If you’re musically inclined or want to learn a new instrument, the best option from a financial standpoint is to purchase your new tune maker used. You can often find them in music stores, pawn shops, and online for much cheaper than paying outright from the maker.
13. Books
As an avid reader, I love books. I love them even more when I can get them cheap. Used book sales from your local library are a great place to start if you aren’t familiar with purchasing used books.
Some retailers like Amazon will also have gently used options and other avenues for getting books at a much cheaper rate. My one rule for all books is that we take care of them. I’ve taught my children how to care for their books so they last. The longer they stay in good shape, the longer I can use them from child to child as my children learn to read.
14. Large Appliances
I love a fabulous remodel. I love watching people repurpose items and make something drab look fabulous. However, we all go into projects like that knowing we’re going to pay a fair price to get the job done.
One area where you can save some green is in purchasing your major appliances. You can go to a scratch-and-dent outlet that will sell you a virtually brand-new appliance that was dinged in shipping and still looks great. You can also try your luck finding great used options online, as people do their own remodels and often sell precisely what it is you need for your upgrade.
Steve Cummings is a journalist, personal finance creator that has specialized in saving and investing into ETFs. Steve founded Budgets Make Cents, and has been known for his personal finance advice and his passion for sports.
