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Envious of friends who know how to score deals on used goods? Use these savvy tips to get great deals of your own.

Have you ever heard a friend boast about a great deal they scored on a second-hand item and wished you had the savvy to do the same? If so, here are tips to help you jump into the game of getting good deals on used items.

Compare prices
The first thing to do when shopping for second-hand items is to compare new and used prices for the item. This information will be helpful while you negotiate a fair price.

What will it cost to get the item in usable condition?
Washing clothes and sanitizing toys is generally quick and cheap to do. Reupholstering a sofa requires special skills or hiring a skilled craftsperson. Whatever the item, assess what’s needed to get it in usable condition.

Used is great for learning
Many people jump into new activities and hobbies, buy new equipment and quickly abandon their new ventures. This creates a great used-goods market for anyone exploring new interests. Used exercise equipment, sports gear, hand tools and instruments are an affordable way to try out new activities.

Buying used is good for the planet
In addition to being kind to your wallet, prices of used products can be up to 80% cheaper when compared to new items. Buying used items means there’s no extra packaging, and you keep a functional item out of the landfill.

Beware of scams when buying used
You know the adage, if it’s too good to be true, it probably is. Use caution when buying from private sellers on platforms such as Facebook Marketplace and Poshmark. Ask questions about the product and for recent photos of the item. Request a photo that includes a note with your name or the date to prove it was taken recently. If appropriate, ask for serial numbers or a certificate of authenticity.

Watch for red flags, like a seller who asks to be paid outside the platform or app your using, or in complicated ways. If you encounter a scammer, report them.

Buying and selling in-person allows you to inspect an item before making payment.

When meeting unknown sellers, choose a public place for the transaction and let someone else know where you will be and when you will be meeting them.

Does the product have a lifetime warranty?
A used product with a manufacturer’s lifetime warranty can be very attractive. However, find out if that warranty is transferable or only applies to the original purchaser. 

Used tech can make sense if you don’t need the latest and greatest
Realistically, do you need the most advanced TV, smartphone or other such digital devices? A willingness to forego the most recent technological upgrades can keep a lot more cash in your pocket.

Why cars are a favorite used item
Many folks only buy used cars because if they shop carefully they can get a great value. The biggest reason is because a new car loses a lot of value as soon as the new owner leaves the dealership. By purchasing a used car, you avoid the hit of depreciation. Plus, insurance rates are lower with a used car compared to a new one. While many used car buyers pay in cash, you can get a Consumers auto loan to purchase a pre-owned vehicle.

Now, go use your newfound savvy to great deals on second-hand items.

Consumers provides banking services for more than 117,000 members. If you have banking questions, call us at 800-991-2221. We make it easy to bank how you want, when you want.

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Tools and resources

As part of the Consumers family, you have free, unlimited access to financial management services.

Learn more