When you know you'll be using a product only for a short while and can't borrow or rent that product the best option would be to buy a quality product which you can resell after you are done using it. While obviously you won't get back as much money as you paid for it selling it would reduce the total cost of that product and you've have used it anyway. Win-win for you. I don't know if this strategy can be a good way to "save" money when buying other things like say electronics? Thoughts?
I'm not sure if that's a good idea because some products are not that in demand, like an electric or cordless screwdriver for example. It would be hard to resell those items. I think that could only work for gadgets, because they are always in demand.
Some people use this strategy when purchasing clothes. They know they will only be using the item for one or two times so they purchase the item with the intent to sell it as soon as they are done with it. Some people return the item but I think the stores have become aware and will not refund cash.
I don't think of buying products that way. What I have in mind is to always buy products, a new smartphone for example, and take care of it with the idea of maintaining it for as long as possible in order to save money from buying a new phone for the next 5-7 years. In fact, my Blackberry is still going strong and I've had it for 4 years now; and I'm not thinking of changing phones anytime soon. However, I might sell my phone when I finally decide to buy a new one if I am able to maintain its quality.
Some people do buy with this in mind and it's not a bad idea, but many times it's just a thought. Often things will get donated instead or given to a friend rather than being sold. I do consider it when I buy something, whether it can be recycled somehow, for example my mother would like it. These days it can be too much effort to sell things on unless they are one offs or collector's items.
I'm not altogether sure that this strategy would actually save any money or for that matter be very cost effective either. As to be perfectly honest looking at it realistically - considering the fact - that the majority of items these days generally depreciate in value - some often within minutes of buying them - and most items once bought rarely if ever sell at anywhere near their original value - I'm more inclined to think - that the end result of doing this is way more likely to be quite the opposite and that it would lose money rather than save it.
I have never been a good reseller no matter how hard I have tried in the past. I used to buy things thinking that I could turn a profit with them only to be stuck holding onto them. I have given up on the idea of reselling things all together. Sometimes I get lucky and will post something online and it actually does sell, but not too often.
