Why secondhand products?

[Finebone]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Buying second hand products boils down to not having the ability to finance a new one, because on most occasions new ones may be top expensive and out of your league.

Down here in Africa it's not a thing of surprise because people will go for what they can afford, as long as they knows that they can get value for their money, so they don't care if it's a second hand products or not, as long as it looks presentable and long lasting, they will go with it, than buying a new one that is too expensive or trying to get what is out of their league, so that's the whole sentiment about second hand products.

[Achalugo BTC]

Before now, I also have the kind of mentality that buying a fairly used item is the best because it gives me the opportunity of affording to use such product, not getting to know that I will later end up spending more than twice of the cost of getting the original or new one, I want to blame some people that are found in this situation because they needed to use some items they can afford to buy than to go for a fairly used one, only that those fairly use items does not last as we may expected of them.

It depends. Some second-hand products are more durable than brand-new ones, and I can testify to this from experience. I bought something brand new, but just a few days ago, it started developing a problem after I had already returned the first one I  bought, which had a similar problem, when I hadn't used it for a month. This has made me realize that there are some second-hand products one will buy, will be a better option brand-new ones, especially when one doesn't know how to distinguish genuine products from fake ones, as buying the wrong product can lead to regret. I still regret buying that product whenever I see it.

[Mate2237]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

A lot of people go for secondhand products to cut down cost because they know that going for a brand new item would cost more but In some cases people just tend to be over economical, even though they have the money to go for the best they rather get a cheaper one. You could call it a financial logic for some people but for others they are just penny- pinchers.

Second hand products do not mean spoiled but economical. Again, not all second hand products are good so you have to be careful about this. I don't know why other people buy second hand products but most people buy them to save money. There are also many who do not have enough money to buy any product, so they plan to buy second hand products.

You are right, but it depends on the products, there are some items that I wouldn't recommend anyone to buy if they are fairly used because it might end up becoming buyers remorse, some second products don't last very long after they have been used by the seller for a long time. The money can be a factor but instead of buying what's could eventually get spoilt it's better to save up and get a new one

[panjul07]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Buying second hand products boils down to not having the ability to finance a new one, because on most occasions new ones may be top expensive and out of your league.

Down here in Africa it's not a thing of surprise because people will go for what they can afford, as long as they knows that they can get value for their money, so they don't care if it's a second hand products or not, as long as it looks presentable and long lasting, they will go with it, than buying a new one that is too expensive or trying to get what is out of their league, so that's the whole sentiment about second hand products.

I will see it from different point of view because choosing secondhand product is not always because people unable to afford to buy new ones.
Some people may choose secondhand product simply because smarter or more logical financial decision because they look at the depreciation.
A new product usually has higher depreciation percentage compare it to secondhand product.
For example, someone buy a new car worth $20k and after a year the price drop to $15k while other buy a secondhand car (3-5 years old) worth $15k and after a year the price drop to $13.5k.
Of course buying secondhand product is risky and tricky so someone really need to inspect the product well to avoid expensive reparation budget.

[Findingnemo]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Some don't want to pay the full price because, as a financial decision, buying a brand new vehicle is one of the worst decision, the value of the product depreciates like 40% in just a year. So they are okay with compromising on some factors and paying half the price.

There can be other reasons but mostly the price and affordability made the second-hand market to exists.

[Berry2d]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Some don't want to pay the full price because, as a financial decision, buying a brand new vehicle is one of the worst decision, the value of the product depreciates like 40% in just a year. So they are okay with compromising on some factors and paying half the price.

There can be other reasons but mostly the price and affordability made the second-hand market to exists.

The idea of value depreciation is a perfect one but should not be considered the top but affordability and financial constraints should be the top reasons for such decisions in most cases.
Over 60 percent of citizens in the world falls within the average rate when we talk about financial strength,  so engaging in what will consume the little available because of uncontrollable inflation is the worst mistake many try avoiding now.
With the current economic difficulties and challenges,  I think the consideration of going for a second hand vehicle is the best option instead of choosing an installment plans that keeps running till it have been covered. Many that goes for the new once especially the average citizens usually ends in applying for an installmental plans which i think is not the best option when the little we have can afford a neatly used secondhand once.

[Rockstarguy]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Buying a secondhand car is not just about looking at the price; people normally consider depreciation because the rate at which a car depreciates is very high. Some people would prefer to get a secondhand car that has a very clean body and interior with a good working engine, and you can't even tell the difference from a new one. But the truth is that, based on what a lot of people earn, many can't even afford a new car, especially employees. New cars are being purchased by politicians and people working in the oil industry, as well as some celebrities; the average person in society can't even afford them.

[stompix]

People in different places usually choose secondhand products instead of new ones.

Nope, not even close!
Apart from cars and phones, people really seldom choose second-hand products.
Furniture, clothes, tools, toys, gadgets, they are a tiny market compared to brand-new products.

Also youre forgetting something essential in this:How can you buy a second-hand product from someone? Well, that someone has to buy it new before right? Because if there are no new products coming in the market, there will be no second-hand ones either.
Third thing, it's a big world out here, stop comparing all of it through your narrow lenses around you.

[BALIK]

Before now, I also have the kind of mentality that buying a fairly used item is the best because it gives me the opportunity of affording to use such product, not getting to know that I will later end up spending more than twice of the cost of getting the original or new one, I want to blame some people that are found in this situation because they needed to use some items they can afford to buy than to go for a fairly used one, only that those fairly use items does not last as we may expected of them.

It depends. Some second-hand products are more durable than brand-new ones, and I can testify to this from experience. I bought something brand new, but just a few days ago, it started developing a problem after I had already returned the first one I  bought, which had a similar problem, when I hadn't used it for a month. This has made me realize that there are some second-hand products one will buy, will be a better option brand-new ones, especially when one doesn't know how to distinguish genuine products from fake ones, as buying the wrong product can lead to regret. I still regret buying that product whenever I see it.

I don't buy that a used item beats a factory sealed one when it's the same product, same model, same brand. That sounds pretty absurd tbh.

That might only be true when you're comparing product from different segments, like a used high end product against a cheaper brand new one, or when you end up buying a fake, as you mentioned.

Also ,  buying used doesn't mean you are always getting the genuine thing. You could still end up with fake, or something that's been repaired or had parts replaced without seller telling you . Buying secondhand comes with quite few  risk , especially when it comes to  bigname brand.

[Zigabel]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Not every one will be and can be able to afford an item at the rate it is when Brand new, and that does not mean they don't desire to own it, especially with cars, they may not have the financial capacity at a time to afford the car Brand new, but they sure can afford it second hand when the price is slashed down a little bit. We all have our purchasing power at different times and then again, purpose for which they are buying the car could aswell be one reason for which they rather opt for a fairly used car.

There may be no much Financial logic here to brother about, or maybe most likely the Depreciation Math's, you will agree that some cars are really quiet expensive Brand new and if that should be the only price at which such cars could be gotten, then some persons out there will not be driving a car anytime soon, this is the channel that avails them the opportunity to own such cars with that which they can afford to pay for the car.

[ruykeri]

I buy some things new and some things secondhand. It depends on the product I am buying. If I see a useful thing that I can get secondhand at a low price, then I definitely do not miss this opportunity. But if I see that the price of that secondhand thing is so high that I can buy a new thing by adding some extra money, then I refrain from buying a secondhand product at that time. Now there are many people who do not like secondhand. Maybe they are financially very strong and they do not like to use other people's used things mentally. But I have seen many people who can afford to buy and use new things, but still buy secondhand products to save some money. What I feel is that if I buy a new thing and use it for a few days, it will also become a used product. I do not think that I cannot buy that thing, I will not use it just because someone else has used it for a few days.

[Merit.s]

From my observation, second-hand products from good producers are stronger and more durable.

Are you saying that brand new cars aren't strong and durable than these second hand cars, I don't think so. It's not everyone that can afford to buy a brand new car because it's very expensive. The bottom line is that lack of sufficient funds has made most people settled down for second hand cars. I prefer a brand new car if I can afford it because it's going to last longer than the second hand one.

[ZAINmalik75]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

It's all about affordability and financial plannings, obviously. I don't see why a person wouldn't buy a new car and buy an old or used one when they can easily afford to buy a new one, but if someone does that, it is simply because they can't afford to buy a new one, even if they have enough money for it, they know they can't spend that much money on a car since there must be other financial obligations that they need to fulfill. This is the reason why people often go for second-hand things because they come cheaper, and they basically do the work, because a second-hand product doesn't always mean the product is bad.

Some people might also do it to save money, but I think the percentage for that isn't that high, and it's mostly about affordability. If I have more than enough resources, and I know that I won't face any financial problems even if I spend so much money on buying a new car, I would always go for it, but if I know that if I spend that money to buy a car but then struggle with other things, I would rather drive an old and used car instead of getting myself in financial trouble or struggle with other stuff.

[BABY SHOES]

The Data we get from local news, used vehicles are now rising soaring high, it can be said the majority of people prefer used cars rather than new ones, the reasons may be various, one of which is the low price with the quality of the car is still good.

Saving money can be a strong reason, we also see many showrooms that sell used cars to survive even though we know that new manufacturer cars continue to appear with good technology, actually this depends on the need whether you want a new one or a used one is more sufficient.

[snowpega]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Many of the members here may have their own different points of view regarding this concern. What I think is that the majority of people move to buy second-hand devices because they can not afford a new one. I personally also don't recommend buying a second-hand device due to many reasons. But here we are talking about the major case, or what people do. When it comes to vehicles, there is a huge price difference between a new one and a used one.

This is why the majority of people choose to buy a used one, as they can not afford to buy a new one according to their financial condition. Also, this condition varies from country to country. In some countries, vehicles are cheap, but in some countries, buying a new vehicle is really expensive. This is my point of view on this matter. What do you think about this?

[JoyMarsha]

People go for secondhand products for many reasons. It could be that they feel that the secondhand products are often stronger and better than the new product they have in mind. For example a used US phone can serve better than a new Chinese phone.

Another reason is that the price of secondhand products is cheaper compared to the products some people consider new ones.

On my side, the time I know that I go for secondhand when I know I don't have enough money to buy the product I have in mind as a new one

[Judith87403]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Asking why do people choose second hand products is as good as asking why do people sell second hand products. To answer your question, it's because of affordability. Most people prefer fairly used products because they are more cheaper. There are also some products that when you buy it new, you won't enjoy it at that moment until you have used it severally so some people likes to buy those type of products as fairly used so that they can start enjoying instantly. Another reason is also for a part time usage, there people that just wants to use a product just for a period of time, so instead of getting the new one and spend a lot of money they will prefer a fairly used one in order to cut cost.

[BTC FutureKing]

From my observation, second-hand products from good producers are stronger and more durable.

Are you saying that brand new cars aren't strong and durable than these second hand cars, I don't think so. It's not everyone that can afford to buy a brand new car because it's very expensive. The bottom line is that lack of sufficient funds has made most people settled down for second hand cars. I prefer a brand new car if I can afford it because it's going to last longer than the second hand one.

I also have the same view as you that if you want to choose anything be it clothes shoes electronics or even a car you should choose a new one.I also believe that if you do not know about second hand things they will break down less and if you fix them they will not be the same as before. Second hand things are chosen over more expensive things such as cars etc.If the car is in good condition and all its parts engine etc. are in good condition then choosing a second hand car is not wrong considering the money.All these things are within your pocket which will give you the courage to win. You can buy such an expensive and new car but you should prefer a new car over a second hand one which is also expected to last longer.

[Bright0515]

There is no way second-hand products are stronger and more durable than brand new ones. Products have a year warranty for a reason. People purchase secondhand products for the price not durability. It is the same reason why people buy dupes instead of designer perfumes or buy knock-offs instead of designer clothes.

Although buying new products doesn't guarantee durability but comparing them to secondhand products there is no way that they can stand the test of time like new products. People make excuses when they buy such products saying that it lasts more but perhaps they are too ashamed to admit that they bought it because of the price. There is nothing wrong in going for what you can afford but it's important to get an item that would serve it's purpose for a long time.

Most people don't really have the idea that when they try to be economical they only end up spending more even though it's not immediate but accumulatively the amount spent on second items they end up buying twice or more due to poor durability could almost amount to getting a new one or slightly close to it.

[Cryptomultiplier]

People in different places usually choose secondhand products instead of new ones. Tailoring it down to vehicle, between secondhand vehicles and new vehicles which one is mostly purchased yearly? Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

Asking why do people choose second hand products is as good as asking why do people sell second hand products. To answer your question, it's because of affordability. Most people prefer fairly used products because they are more cheaper. There are also some products that when you buy it new, you won't enjoy it at that moment until you have used it severally so some people likes to buy those type of products as fairly used so that they can start enjoying instantly. Another reason is also for a part time usage, there people that just wants to use a product just for a period of time, so instead of getting the new one and spend a lot of money they will prefer a fairly used one in order to cut cost.

Your reasons are very valid and affordability stands on top of the list for me because I live in a country where the price of technological products increases on a weekly basis and I have fallen for this several times especially on a particular occasion when I tried getting a fairly used PC just because of the urgency and the amount I had in hand at the moment.
It turns out that after doing my market survey and had the actual amount it would have cost, on reaching the market to get it, the price had increased tremendously for a new one, so I had to go for the fairly used one which turned out to sort my problem at the time.
It didn't actually take long for the PC to develop fault and upon repairs I did my costing and came up with the conclusion that I spent up to same amount, if not more than I would have on a new one.

The funny thing is that selling a fairly used technological products back, devalues its purchasing power x2 and that makes it all the more annoying. So I would prefer and advice anyone trying to get a fairly new product to apply ample amount of patience and make up the amount to get a new one otherwise risk spending much more in repairs or selling it below the price it was bought for and that makes it all the more worthless.