Buying second hand can often save you a considerable amount, particularly on big tag items – but is it always the most financially savvy option? We took three products and pondered the question: “Is buying second hand savvier?”

Cars

Many individuals don’t have the option of buying new when it comes to cars if they aren’t prepared to buy using credit and this can drive their decision making. But, there are other reasons people buy second hand. Looking at a reliable and popular car model like a Vauxhall Astra – which is the tenth most popular car in the UK, you can buy a second hand model for upwards of a grand. In comparison, you’d be looking at spending up to £15,000 on a brand new one straight off the garage forecourt. Insurance for a second hand car is also likely to be far cheaper. Weighing in on the opposing side is the fact that new cars are covered by a warranty, so if anything needs repaired you won’t need to foot the bill. In addition, many new cars feature lower or zero emission engines that result in paying lower road tax rates or not having to pay road tax at all.

Clothes

While buying on eBay or in charity shops may allow you to grab a bargain, buying second hand doesn’t always equal cheap when it comes to clothes. In recent years the vintage look has become very fashionable and many shops and online sites have monopolised on this, causing the price of second hand clothing to rise. Don’t let this put you off entirely though, with a bit of nouse you can still find bargains on the racks and if you have a talent for spotting them, you could even try selling them on at a profit.

Mobile phones

Keeping up with the Jones’s costs dear when it comes to mobile phones and many people allow themselves to be tied into long-term contracts with service providers in order to get their hands on the latest models for free. It’s far cheaper to buy a second hand mobile or even an older model and take your pick of rolling tariffs. And of course, if you’d like a little cash towards your purchase you can always sell your old mobile to one of the many online mobile phone buyers.