With economic turmoil, a worldwide pandemic, and other serious issues to contend with, many people in Canada are looking for new ways to save money so they can have more of a financial cushion during an emergency. Big-ticket items, in particular, are especially troublesome, and many people are foregoing making such purchases as a result. However, before you decide to do that, investigate all your options. There may be strategies for saving money on big items you haven’t even considered.
One tried and tested strategy for saving money on some large ticket items is to utilize a mail-in rebate. A rebate is a kind discount that is returned or refunded to the buyer of a product after the purchase. Mail-in rebates are the most common form of rebates. To obtain a mail-in rebate, a consumer usually has to mail in a receipt, barcode, or coupon to either the manufacturer or the retailer. Once received, a check will be issued to the consumer and sent by mail.
Before you shop for a big-ticket item, investigate the possibility of obtaining a mail-in rebate. Look for mail in rebates for Canada since many others listed online may only be relevant to the US. Look for rebates you can use for brands and retailers you know. You may be able to receive a sizable discount.
Another strategy you should consider is trading in an older big-ticket item for a newer one. You should absolutely do this when it comes to buying cars. Trading in an old car when buying a new one will save you a significant amount of money. Use websites like CARFAX Canada to estimate the value of your old car. You will also eliminate other costs as well. An extra vehicle you don’t need will still cost a lot to insure. Older vehicles also accrue repair and maintenance costs faster than new cars.
There are other expensive items you can trade-in as well. This is certainly true for electronics. Investigate the different trade-in programs available from certain electronics retailers. You will probably be able to trade in your old smartphone or personal computer and receive a decent discount on your new purchase.
End of the Year and Holiday Sales
There are good reasons why many retailers put big-ticket items on sale near the end of the year. It is due to the fact that they need to clear out stock to make way for next year’s stock. Many things go on sale during this period. You can buy televisions, computers, automobiles, washing machines, dryers, refrigerators, and much more at deeply discounted rates.
Pay attention to announcements of the end of the year sales. Holiday season sales are also big opportunities to obtain discounts you won’t see for at least another year. Pay attention to the discounts given to big-ticket items you want to buy on both Black Friday and Cyber Monday. Both take place immediately after the American Thanksgiving. You should see plenty of sales leading up to the Christmas holiday and many more on New Year’s as well.
Manufacturer Refurbished Products
Lastly, another option you should consider is buying refurbished products. This is an excellent strategy for getting significant discounts on electronics. You may be skeptical and assume that refurbished is just another way of saying used. This isn’t actually the case. Refurbished products are products that have been sent back to the manufacturer. After they are received by the manufacturer, repairs and tests are performed to ensure they are as close to like-new quality as possible.
As such, refurbished products are much more trustworthy than products labeled as used because used products do not go through this rigorous process with the original manufacturer. However, make sure that the product you purchase is indeed labeled as refurbished by the manufacturer and not another party. The manufacturer is the one who has the ability to do the best job ensuring the product is as good as new.
Today, people are living with a lot of economic strain and uncertainty for the future. As such, they feel a bit resistant to spending on big-ticket items as a strategy for saving money. However, there are ways to bring down the costs of big purchases and make them more affordable. Options like mail-in rebates, trade-in programs, end of the year sales, and refurbished products can do just that.