It is not inexpensive to upgrade your smartphone, especially if you do not want to be locked into a two-year contract with a network provider.
But in the past few years, many customers have discovered a secret that big-name smartphone companies don't want to let slip -- refurbished second-hand phones often perform just as well as new devices, and for a fraction of the price of a brand-new model.
While new device sales have plateaued in recent years, the market for refurbished phones has increased considerably. The number one reason for this trend is consumer sentiment - tens of thousands of smartphone owners are realizing they can get a better deal by purchasing a refurbished device.
In what way are refurbished phones better than new ones? The following three reasons will help explain.
Smartphones Lose Their Value Insanely Quickly
Even though it sounds absurd, a brand new phone's value is partly due to the fact that it's brand new. It doesn't matter what they do or how they perform, but they're just brand new. As a result, smartphones depreciate in value at a shocking rate, depending on the model. Prices for Apple iPhones, for instance, depreciate by approximately 40%, but for Google and Huawei models, they depreciate by about 75%.
People are still willing to pay a lot for a brand new handset, which is why this model survives. However, bargains are available for the rest of us as well. Those who do not wish to pay for the latest device releases can wait until Apple, Samsung, and the rest release their next version. You’ll see plenty of last year’s models available when people trade them in, even if they are just 12 months old.
Refurbished Phones Are Better Than ‘nearly New’
As we have said before, a 12-month-old smartphone is just as good as a brand-new one. When you purchase a refurbished smartphone, you aren't purchasing a second-hand phone straight from the owner - you are purchasing a refurbished pre-owned device that has been restored to its original state. A new battery, a system factory reset, debugging, and cosmetic fixes to the case and screen are all part of this process, all tested and graded for validation.
It is Better to Buy Refurbished Than Second-Hand
You're not getting a phone that you bought directly from the previous owner, even though refurbished phones are second-hand phones. In contrast, when you purchase a refurbished phone, you are purchasing a phone that has been returned to its original condition. As a result, you don't just get a second-hand phone, you get a virtually new phone. Refurbishing the phone involves fixing all cosmetic issues, replacing the battery, performing factory resets, and doing whatever else needs to be done to transform it back into a brand new phone.
A New Phone without the Strings
Whenever you purchase a new smartphone, there are many strings attached. In other words, even if you don't like the service, you are locked into a long-term contract. You are still bound to the contract even if you pay off your device before the contract ends. Changing service providers will be costly over time, and you will not be able to get better service if you do not like your current provider. Pre-owned phones have cheaper insurance, so you can also save money. Additionally, refurbished phones come with a great warranty in case something goes wrong. When purchasing a new phone, you know what to expect in terms of costs.
Some people believe you won't get a quality phone if it's refurbished, for example. If you go this route, you can save a lot of money by choosing refurbished phones as your next phone. When considering purchasing a new phone, consider refurbished phones, which have been fully restored and come with warranties.