Buying used can be a great way to save money or it can be a fast way to lose money. There are some products where buying used isn’t all that different from buying new — certified pre-owned cars, anyone? — but there are others where buying a used version can require significantly more work than buying new. There are a few ways to make sure that you really are getting a deal when you buy used. These steps may require a little more time than picking up a new version, but they can still result in significant savings.

1. Just what is the life of the product you want to buy?
   Manufacturers tend to have a good idea of the life time of the products they sell: a cell phone has an expected life of about two years. After two years, manufacturers expect a cell phone owner to be interested in changing contracts, upgrading his phone and taking other steps to get a new model. On the other hand, books have life times lasting years, making them a great used purchase. Before you go shopping for any used items, it’s important to know how long a life such a product has. That allows you to quickly determine if the price difference between your used option and a brand new item actually affords you savings. Many products, like clothing, can last much longer than is necessary to save on the difference between used and new prices. But some electronics don’t.
2. How has the previous owner cared for the item you want to buy?
   There is a lot of variation between the value and usefulness of used products, simply because previous owners put varying levels of wear and tear on their individual possessions. Even a visual comparison can tell you whether one used item is worth the same product with a different previous owner. Cars can be a very good example of this question: if someone takes great care of his car, it can be in perfect running order after ten years. But when someone doesn’t make those recommended oil changes or remember to do maintenance, a ten-year-old car can be an absolute mess. You can’t take the previous owner’s word that he falls into the first category. Check it out for yourself.
3. Have there been any recalls or other problems with this product line?
   While retailers with new products have an obligation to make sure that recalled products are off the market, it’s not uncommon for a used product to be sold with no such precautions. It’s up to buyers to do a little research to make sure that there aren’t any problems with a product line. It’s relatively easy to check for recalls: the U.S. government maintains Recalls.gov, where you can search for recalls for particular products.

Buying used can be a great way to save money, especially when you’re looking at products that can serve their purpose long after they’re actually new. But it is important to exercise a little due diligence when shopping for used items. The time you spend now can save you money down the road.

Popularity: 11% [?]