Why secondhand products?

[Obulis]

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?

[Fortify]

Why are you asking us to surmise the different buying decisions that motivate billions of people like there is a simple answer? You've already described the main reasons and it can vary wildly between countries. The primary reason that people buy second hand is that they cannot afford to buy brand new or there is not enough incentive to have a new product. Many people are comfortable with buying a second hand phone or car, if it has been kept in decent condition then there is often little difference. Some people just like the "prestige" of being the first owner and are willing to pay more for that. It's said that a car will lose 20%+ of its value as soon as you drive it away. There are also other factors like government subsidies or tax perks which mean people may not end up paying full price, but those tend to be for very narrow reasons. In general though it's far too big a question to get any meaningful answer with all the variants.

[alani123]

On the individual level deprecation accounting does not exist.

The secondhand market exists and is growing because disposable income is shrinking. Inflation of basic goods is through the roof all around the world. Wars and blockades on oil certainly don't help. Oil is still used for everything. Energy to transport and manufacturing.

In some countries people can still afford new for 99% of the cases but some choose not to for environmental reasons. Go to Berlin for example, a thrift store's clothes can even be more expensive than buying entirely new chinese/Vietnamese factory clothes. But people think it helps the environment to not support new production and fast fashion.

In the end this is good for competition actually because some supplier known for pushing ridiculous prices to retail get pressured by competition and consumer preferences to make better deals for the consumer.

As it used cars, did you see how long delivery times of new models have been? Rsther than paying $25k for a new model I pay $10k for a fully repaired 5 year model with the same features and get it delivered same day. Why even waste the extra 15k in these hard times?

[aoluain]

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?

Thing is there would be no second hand products without new products, everything has to
be new at some stage.

Personally I try to buy as much second hand products as much as possible but there are
items which kind of need to be bought new as they wear out they are not fit for purpose anymore.

The reason's I do it?

There are perfectly fine items which others no longer want/fit/need. Secondhand doesnt
necessarily mean worn out.

Try to save resources, both my own and in general.

[sergiorus]

Saving some money upfront can be a reason but aside that, what is the actually reason or financial logic, depreciation math or what?

1. Environmental concerns

2. That particular item is no longer produced

3. Stimulating the economy of your town (if you buy locally) by keeping the money there


Of course in the vast majority of cases financial reasons prevail but since you asked what else one may have on their mind, here you go.

[Zlantann]

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?

Roughly 95 percent of the population of my country cannot afford brand new cars. The reason is that they are seeking ways to cut costs. One review claims that people buy two to three times more used cars than new ones.

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

Another reason is environmental preservation. Instead of dumping used products, thereby causing environmental problems, most companies end up selling it a t a lower price to encourage usage. This is why most developed countries use developing nations as dumping grounds for used products.  

[Moreno233]

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?

The idea of second-hand products or fairly used products is actually common with poor countries. The reason is that majority of the population  cannot afford the brand new products, so they have to make do with second-hand product whose price is cheaper. It is a big market in Africa where used goods like phones, vehicle, computers and so on, from Europe and the US dumped into the market at lower prices than the cost of brand new product. As cheap products, they come with various degrees of problems too that the cost of repairing them added to their cost may even be more than buying brand new products. This is the reason I detest second-hand products and if I don't have the money for brand new, I go for alternatives but I like my things new and direct from the manufacturers.

[Questat]

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 the price for sure, 2nd hand units are cheaper.

For example in the Philippines this is very popular, you can see this in different parts of the country.
This is originally from Japan, which when sold in the Philippines as a 2nd hand unit, it costs around half of its original price.

I have this kind of car as well and it's very economical as it does not consume a lot of fuel since the engine is not that powerful, but it can already do the job, for family and even for business.



You can see the listings in here.
https://philkotse.com/suzuki-every-year-2017-for-sale
https://www.carousell.ph/search/suzuki%20every/

[GGGary33]

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 just plain trying to save money, but in the long run it can back fire on you. Specially buying used cars, you don't know the history of it and maybe the odometer is tampered or even the car has been in the flood that's why it is being sold at a cheap price.

Or worst, it could be in a car accident already, so for those who are superstitious that could be a bad sign not to buy it. So for me, I would rather buy a new and fresh car instead of having a long term headache.

[Bd officer]

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.

Personally, I do not like buying second hand products very much. If a relative sells second hand products and if I need them, I try to buy them. Why from relatives? Because from them you can know about the quality of the product.

[BIT-BENDER]

Why are you asking us to surmise the different buying decisions that motivate billions of people like there is a simple answer? You've already described the main reasons and it can vary wildly between countries. The primary reason that people buy second hand is that they cannot afford to buy brand new or there is not enough incentive to have a new product. Many people are comfortable with buying a second hand phone or car, if it has been kept in decent condition then there is often little difference. Some people just like the "prestige" of being the first owner and are willing to pay more for that. It's said that a car will lose 20%+ of its value as soon as you drive it away. There are also other factors like government subsidies or tax perks which mean people may not end up paying full price, but those tend to be for very narrow reasons. In general though it's far too big a question to get any meaningful answer with all the variants.

Really I have seen such weird questions on this board. How can we answer directly why people buy second hand products and the OP actually took out the popular reason why people buy second hand products which is financial reasons now the OP wants us to manufacture other reasons why people make that decisions.

 I honestly think a question has been asked by the OP and also in the same body of the post that question has been answered by the OP.

[Zaguru12]

Personally, I do not like buying second hand products very much. If a relative sells second hand products and if I need them, I try to buy them. Why from relatives? Because from them you can know about the quality of the product.

Overall there is nothing better off than buying something new at least you’re sure that this actually only you that have used, because second things even if they don’t have problem when with the owner there is a big possibility of some parts wearing out fast than getting a new one. So the justification for buying second things mostly is because of economic or financial constrains, it can either be;

1. The buyer doesn’t have enough money for the new product like we see in developing countries where they do not easily get access to new technology and it’s expensive for any trying to get it.

2. Another economic constraint is when the buyer isn’t using that thing for long time just a casual use and isntead of wasting money on a new one they simply go for second hand ones to save cost since they will be ditching it out early

[SatoPrincess]

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

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.

[Davidvictorson]

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?

There are many reasons why people choose used items over new ones when making a purchase. One reason I can think of is that there is often little difference between a used item and a new one, especially when the used one is only a couple of years old. Buying used saves money, and unless someone tells you, you may not even be able to tell the used one from the new one.

I also think some people buy used items because they don't care about showing off or impressing their friends. People who insist on buying new may want to tell their friends they just bought something brand new. In the end, most people don't care and may not even know unless you tell them.

In my view, there are items I would buy used and others I would only buy new. Electronics are one example. With electronics, you don't know how much has been fixed or replaced or how much life is left in them. Other items like furniture are different. You can buy a used piece that is close to new, polish it up, and use it for as long as you want until you decide to get rid of it.

[Donk1]

Well it's simple there are some certain stuff that aren't really that too different from the new ones. You just need the right amount of maintenance and it would probably look new, so instead of spending extra cash on something new, then fairly used often comes in handy. And besides it's all about convenience, and as long as the car looks good, sounds well, and does not develop any issues frequently then it's probably worth it. Though folks often buy fairly used products because they can't really afford new ones, but if you have the money to there is nothing stopping you. It's all about financial differences that vary from individual to individual. That said there are some stuff I wouldn't consider buying fairly used as a crypto enthusiast, which are gadgets like phones, laptops, and so on just to be safe and to ensure maximum security because you don't know if the phone has been hacked. But apart from that there is certainly nothing bad in purchasing fairly used products you just have to go for it in a more precise way that's all........

[RGBTC]

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.

An item's status whether new or second-hand, doesn't determine its durability. There are times when people have to sell brand-new items due to financial issues, even after just a single day of use.

I’m just sharing my own experience: my phone is a 2019 model (which had high-end specs for its time) that I bought second-hand six years ago, and it still works perfectly today. Don't even ask how many times it has been dropped or thrown hard enough for the battery to pop out. The only part I’ve replaced so far is the battery (just once).

[Spaceman1000$]

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?

I think it has to do with your financial capability, because nobody that will be financially capable of buying a brand new car will go for a second hand or a fairly used car. A lot of persons that live in first world countries can afford to buy a brand new car because the pay they have is quite reasonable enough to save up to buy a brand new car, we cannot say the same for people in developing countries, they have to do a lot of savings for a long time, before they can afford to get a brand new car and it will cost them a fortune in their local currency so if there is an alternative for you to get a fairly used car that has all the recommendations you want, then why not. So economic conditions is part of the reasons why people go for fairly used things.

[348Judah]

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?

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.

[bitLeap]

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?

Because in September I bought a used vehicle, so in this case I can give you the answer. First, it's basically about necessity, for example I'm always looking for old vehicles that have gone out of production. Because as far as I know the price can be more expensive than a new vehicle especially if the vehicle is in limited edition. Another difference is the quality, and historical value. So buying a used vehicle is not always categorized as frugal or cheaper. Ultimately the decision to buy a used or new vehicle depends on your needs and tastes.

[Dr.Bitcoin_Strange]

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?

Price difference and affordability, to a large extent is the reason why some people go for fairly used products, do we often see very rich dudes buying fairly used vehicles or other items? Rich people likes to enjoy a brand new items and they go for it, meanwhile middle class and the poor can not be able to afford the amount that a brand-new item will cost them and so they go for fairly use that they can afford. Apart from vehicle, there are many other items such as electronics that people likes to buy fairly used because they can afford it, if they want to go for the brand new item, it will require them to save for a long period of time and they might not have the patient to wait or might not even want to take loan.