Purchasing Refurbished Products to Save Money
In this blog we take a look at the rise in popularity of purchasing refurbished products to save money in place of purchasing them brand new, and the benefits associated.
As a whole we all like to have the latest bits of technology around us in our work spaces and homes. Whether it’s the latest smart phone, computer or TV, many of us strive to keep up to date with technology to make our lives as efficient and simple as possible. However with the cost of current technology it may not always be possible to have the latest generation computers and 4K televisions.
Often we have to wait a few years after the launch of a product until the early adopters have purchased them and the next model is due for release. At this point often the price will drop and the product becomes more affordable to the masses.
This is still the case but the time gap between the release of a new and innovative product and the next generation being released is reducing. It seems that nearly every year a new version of the product we have already purchased is being released. This applies to many electrical items whether it’s the previously mentioned ‘must have’ smart phone, a high-end laptop computer or television.
This means that instead of waiting three or four years for a new computer, you can now look to buy a one or two year old computer at vastly reduced prices. You will still get a highly capable machine that is future proofed for the next few years without issue, but you may stand to save up to between 40% and 50% off the original retail price in the process.
Take, for example, a laptop computer that was originally priced at £700 on its release 24 months ago. As soon as a newer version of that model is released, the original laptop can often be reduced to approximately £400 just over two years later. It will still include a 12 month warranty and come in retail packaging.
The same goes for other electrical items and white goods such as fridges and washing machines. The supplier often becomes responsible for the warranty associated with their products instead of the manufacturer, but provided you apply the proper checks into the company you are dealing with and are confident of their customer service ethics and returns policy, then you should be fine.
A few examples of companies that are thriving by doing just that are:
White Goods (Washing Machines, Refrigerators and Cooking Appliances)
New Life Appliances New, Graded and Refurbished Appliances
Computers Laptops and Computer Monitors
Smart Phones and Handsets
Various phone handsets via numerous distributors as advised by Money Saving Expert
Beyond the cost savings that can be made, an equally important facet to buying refurbished goods is the environmental aspect. In the past, if a retailer or supplier cannot sell the products, they have often been forced to send the obsolete stock to landfill. This is already a huge problem and is becoming greater over time.
No-one likes the idea of having a landfill site or tip near their homes but the planet is simply running out of space to safely store this waste out of site and out of mind. Very soon it will be everyone’s problem and we will all have to deal with the fall out.
When you buy a refurbished product you are in fact helping to reduce the overall carbon footprint we as humans are leaving for future generations to deal with.
In summary, before you go straining your bank account to buy the latest bit of technology perhaps you should do a few online searches for a refurbished version of the items you were looking for. You might just get yourself a high quality bargain in the process.
Here at George Banco we are constantly looking for ways our customers can make savings in their day to day lives and help reduce the potential debt they face daily. If you know of any great ideas that would benefit our readership then please do get in touch and let us know.
If you need to speak to one of our customer service representatives about a guarantor loan or an unsecured personal loan then please either fill in the online application or call 01225 941941 and we will get back to you.
Please note – George Banco Ltd is in no way connected and cannot be held accountable for any of the businesses discussed in this blog. It is down to the reader to check the terms and conditions of any businesses referred to.