GREENSBORO, N.C. — If you get a tech gift this season, make sure you want it. Stores often charge a restocking fee of anywhere from 10% to 25% for electronics, especially if the plastic is torn or the box has been opened. So, if you're not 100% sure you are going to use it, don't open it!
New is great, but you can save a lot of money on electronics that are refurbished. Consumer Reports has recommendations on how to make the best purchase.
"We found that you can save between 15 and 20% plus an additional 10% for each year since the product's been released versus buying new," said Lucas Gutterman, U.S. PIRG Education Fund.
A refurbished product is a used product that's been fixed up to be as good as new. That is very different than a "used" item you might find on Craigslist, eBay, or elsewhere--it's 'as is'.
When buying refurbished, look for a certified reseller like Sims Lifecycle Service, which is ISO-certified, which means they will replace defective parts with new ones instead of used ones. You should also consider buying refurbished directly from manufacturers, such as Apple or Samsung.
Next, look for a warranty that lasts for at least 30 days in case you run into an issue. eBay's Certified Refurbished products are protected for two years.
Apple, Bose, Walmart, and Samsung—a full year. Best Buy's warranties are good for 90 days.
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