Are you one who likes the latest gadgets or like upgrading to the latest model of anything? Like a car, phone, camera, or computer? An article about the iPhone 12 was posted and I’m sure many people who like iPhones will enjoy the new design and features. You’ve probably seen the images of consumers waiting in long lines. This got me thinking about how can we enjoy the latest models of a phone, car, camera, computer, or any other item but get it at a good deal especially those items that are new releases. For those who just can’t wait and want to stay in line, you’re not going to like my first step. Is it worth buying the latest release?

Wait

Wait for a short period after the release. There’s a few reasons for this.

• This gives the consumers a chance to try out the new release, provide reviews, and allows the companies to fix bugs or make enhancements.
• This gives you time to view the reviews and opinions to determine if it’s worth buying
• This gives you time to see the trends. Some items might not be as popular. There could be recalls that might deter you from buying
• If the hype dies down, the demand will go down. You might see sales and deals.

Buy Used Or Refurbished

Not interested in paying the full price brand new? Take the previous step, wait, and see if anyone is looking to sell theirs. There could be many reasons why someone would sell and this could be an opportunity to get it at a lower price

• Just didn’t like it and can’t return for a refund
• Need the money for other priorities
• Don’t need it anymore
• Could be damaged and looking to sell at a low cost
• Was damaged and repaired. Product was certified to resell an refurbished.

Time It

Companies are always innovating, looking for ways to make their products better. This means the latest release today will be old news in the future. Take mobile phones as an example. Typically, every year a new model is released. If a future release is announced, companies are going to want to push the sales of their inventory to make room for the next release and you should see prices drop. Similar with auto sales, each year a new model will come out and car dealers will need to make room for the next models to come in. This could be the opportunity to score a good deal.

Shop Around

Becoming a savvy shopper and shop around. Unless there’s only one place that sells what you’re looking to buy, call around or surf the internet to see if you can find the lowest price. Price matching is something you should always ask and any incentives. A holiday sale might be coming so ask if there are any upcoming sales if you can wait till then.

It’s not a bad thing to buy the latest products if that is important to you but keep in mind that you will likely pay full price. Is it worth buying the latest? That really depends on you. I have used this strategy to buy small and big items, and I feel confident that I am getting a good deal. So, the trade-off is whether you like to have it now or later. Spending your money wisely is one step towards financial independence. If you are interested in following my journey, email subscribe to get alerts of latest posts or follow me on Facebook.