Everyone loves a good deal, especially when it comes to shopping for electronics. But with so many online and in-store options, it’s often difficult to find the best deal. Well, here are 5 easy tips to save money on your electronics.
One of the easiest, most undervalued and under-utilized schemes to save money is the price match. Don’t waste gas money store hopping. Do research before heading out; get the fliers or store apps with the best price then shop the local retailer. Most stores have a price match guarantee if the customer can provide proof of a cheaper price. Just be aware that there may be some exclusions that apply but it doesn’t hurt to ask. Customer service often honors legit savings from a competitor because they want to keep their customers happy.
2.Timing is Everything
Tech and electronic equipment prices change for a variety of reasons. Sometimes the price will drop because the next gen is on the horizon and sometimes it’s seasonal savings. We all think about holiday shopping: Black Friday and Cyber Monday but electronic retailers cater to events like Super Bowl and Spring Flings.
March through May is usually when manufacturers begin to release new models, which means the older models often go on clearance to make room for new inventory. Okay, it’s not new-new but it’s likely new-to-you, and that’s still a bargain.
3.Say No to the Extended Warranty
Unless the consumer is a bonafide, accident prone individual, an extended warranty might be a huge waste of money. Many retailers and manufacturers make extra money from these extended warranties because most people buy and forget about it or the equipment dies just afterwards. Conspiracy theorists might even say electronics are designed to fail after a certain amount of time to keep the public buying new. Don’t buy into it.
Some people are terrified of buying refurbished electronic equipment but the truth is, yes, it is used equipment but the manufacturer or retailer often guarantees that it works for a certain amount of time. That is because they clean it and put it through thorough testing. For cost savings, refurbished can potentially save a lot of money. Additionally, it keeps good to excellent equipment out of the landfills.
Name brands are great because they are highly recognizable and people tend to be loyal to those brands. That doesn’t mean they always use quality parts or even that they are the best equipment on the market. There are plenty of tech companies vying for consumer consideration and the quality of their components may even surpass the big brands. They usually have discounted rates to lure new consumers in order to be recognized as a competitor.
One key thing to remember is that electronics and its components are always in development. What someone buys today is almost considered “old” as soon as they walk out of the store. Brand loyalty is great for the brand but doesn’t always save the consumer money, nor does it always give them the best value for their hard-earned cash. If consumers can get past the mindset that more expensive equals better quality, they might realize there are huge savings. And if they “gotta have it” then the price match against competing stores.