A Guide to Buying Electronic Items

Learn about a few ways to get the best price when you set out to buy that fancy new gadget.

You have finally decided to buy that fancy DVD player you had your eye on. However, you want to avoid the mistake of buying a product and then finding out that you could have gotten a better deal elsewhere. Here is how you can avoid this mistake.

Decide what you want to buy

Before you take the plunge and blindly make a purchase, it is always a good idea to do a little homework. Are you brand conscious or would you be happy with a locally made product? Are you interested in a product with a lot of extra features or would you be more comfortable with a gadget that is simple to operate?

Many people are tempted to buy products with a lot of added features. The question you should ask yourself though is, how often you will be making use of these features. For example, a DVD player that can also play radio stations might sound great, but does not make much sense if you already have a good music system that can be tuned to the radio.

Once you are clear about what you are looking for in your product, start comparing brand names, model features, and prices. Browse through individual company websites and check out their products. Alternately, there are websites where you can compare prices and product features side by side. This will give you a starting point to allow you to estimate what price you will have to pay when you make your purchase.

Choose where you want to buy from

Once you have decided which particular product you intend to purchase, the next step is deciding where to buy it from. For most products, you have three options. The first is to buy from a local store. In most cases, this is the preferred option since consumers feel that a local dealer is more trustworthy. You will also save on shipping costs since you can pick up your purchase in person. Some dealers also offer free home delivery or charge a small fee to deliver your purchases to your home.

If you are replacing a product with a newer model, there are many dealers who will give you a discount on your purchase in the form of an 'exchange offer'. This means that the dealer will give you a discount on the product you are buying from him in return for your old gadget. The chief downside of buying from a local dealer is that sometimes the product is priced slightly higher than if you bought it online. However, many dealers allow you to bargain, so you can settle on a price that is suitable for you.

The second option is to buy from an online retail store. This option is usually the cheapest one available since online retailers tend to offer their products at prices that are only slightly higher than the wholesale price. The catch here is that you have to pay for shipping and handling costs as well. In some cases, the shipping costs are so high that you ultimately end up paying the same price you would pay your local dealer.

Another option is to try an online auction site. If you are lucky, you can find some great bargains and save a lot of money on your purchase. This is the most risky option though. There are a number of dishonest online merchants who will accept your payment and then send you a substandard product. To avoid this, always check a seller's reputation before you commit to a transaction. An online auction is more like a lottery since a bid can change a number of times especially in the closing stages of an auction. If you plan to join in an auction, make sure you set yourself a price limit for your final bid. Otherwise, you may lose yourself in the excitement of bidding and pay more than you had intended.

Read the fine print

When you make a purchase, there are some points to keep track of. With online purchases, you will have to pay a charge for shipping and handling. Always find out the delivery charges before you make an online purchase. If the merchant is based in the city where you live, the delivery charges will be lesser than those charged by a merchant in another city. Also, some merchants will not refund you the delivery charges if you decide to return the product.

The other points you should check before making a purchase are the warranty period and the customer support options. This is where local dealers score higher since they usually give you a warranty of around one year. In addition, since they are located in the vicinity, their customer support is likely to be more prompt. Large online retailers will usually have their service centres in different cities. In the case of online auctions, there is usually no after sales service or warranty period. You agree to accept the product in an 'as is' condition.

Given the vast range of options to choose from, buying an electronic item need not be a harrowing experience. All you need is to do a little research to get a good deal.