FINANCIAL DANGERS IN BUYING USED PRODUCTS OR GADGETS

While I was thinking of what to write for my blog on hive today, it came to mind that I should discuss about the Financial dangers we encounter when we buy used gadgets or stuffs in general

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Recently, the Samsung company released a new mobile phone and the price is way outrageous especially in my country in Nigeria. The price is going for over a million naira everybody deserves good stuffs but the prices is not for the common people so we get little services by paying more I mean budget phones that used to cause budget prices are way overboard and appraising for high-end owns that now. Same thing as the iPhone company whose prices so high and people try so much to acquire this phone just to leave the life of Fame or to have the feeling of belonging to a particular class.

In view of this I and some colleagues were discussing about the financial problems being encountered by the masses in the country. One of them complained bitterly about the economic and financial recession that he had resorted to buying UK used smartphone or second hand products. We all argued that it was a bad idea because most of these products do not last and they give problems that are times two of what you are supposed to encounter when you buy new products. As these could lead to financial risks

This issues made me ponder on the effect of the dangers we encounter whenever we buy used products so some of the financial problems I discussed about were based on my experiences and some of the experiences I have gathered from other people around me. Some financial dangers include:

Unexpected repair: this is a common problem when you buy used products, when these marketers advertise these products or gadgets to you they portray them as clean with no defect and perfect, but after using for a week or two then this problems begin to surface. The hidden defects in the phone will bring about unnecessary cost where you have to do repairs and replacement of parts. Back then, I remember when I bought the trending BlackBerry phone, it was a UK used phone and I got it for half the price of a brand new phone but the problem encountered with the smartphone was so bad that it was after a while I got to find out that the camera was not working perfectly and the battery health was redundant. It gave me problems that made me spend extra funds by replacing the battery and fixing the camera. So these are one of the financial dangers you encounter when you buy used phones. So in general, what I am trying to say is that the marketers will not give you the complete information you need to know about the product. They are not transparent as they hoard information from you so that you can buy the product off their hands while you go to face the problems.

Depreciation: this is another problem you encounter when you engage in buying used products most times this products are devalued. Just like a recent times now current Android smart phones run on Android 14 software, so you can imagine when you buying a used product that is still existing on Android 9 or 10 that is a drawback and it is depreciated already.

High maintenance cost: this is very evident especially in the purchase of used cars it is a fact that used cars require more maintenance than a brand new vehicle. Because the parts are not brand new you would have to repair parts service the car properly replace engine fixed broken part and so on. Know that this will happen frequently.

In conclusion, if care is not taken this financial dangers incurred while purchasing used items with block you from having long-term financial goals. As most of your savings will go to repairing stuffs that are not necessary. for me this is why I save enough to buy new products or gadgets because it's difficult to encounter immediate repairs when it is brand new except for malfunctions or carelessness. Used products would make you encounter problems and you could run into debts in the process.

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