Story Created:
Sep 24, 2007 at 11:02 AM CDT
Story Updated:
Sep 24, 2007 at 12:45 PM CDT
If you're thinking about buying your next TV, car, or kitchen appliance, it would be nice to know you are buying it at the best possible time for the best price. KSFY financial expert Aaron Maguire has some good tips on when to buy your next "big ticket" item and how to save yourself some money.
Is there really a good time to buy certain items?
1) Buying during the right time can save you money.
· Cars: Buy in September or October to get the best deal on the current year. All of the next year models have arrived and the dealers are anxious to sell the current year leftovers. There are usually a lot of incentives to sell those cars.
· Appliances/ TV's: Buy during the holidays. This is when the sales are usually the best.
· Airline Tickets: On Wednesdays, at least 21 days before your scheduled trip.
· Groceries: Sunday evenings are the best day…you can use that days coupons. Plus, many items have to be sold at the end of that day.
What are some ways to get a great price on these items?
1) Do your Homework first.
· Cars - Look at the website www.edmunds.com It will let you know how much the car costs the dealer and let you know what incentives are available.
- Appliances/Electronics/TV's: Look at the website www.pricegrabber.com It will find the best price on just about any item. You can usually save a lot of money. If you don't want the item shipped to you, show the best price to your local retailer and see if they will match it.
· Airlines: At 1:00am on Wednesday, the airlines usually reload their computers with the newest fares, set your alarm clock
Is it worth buying the extended warranty on the electronics I buy?
1) It's Usually better to stay away from the extended warranties
· The companies that offer these warranties make a lot of money when you buy one.
· The odds that you will ever use the extended warranty is extremely rare.
· Some of the extended warranties will cost as much as the repair actually would.
· You are better off taking that money and investing it or taking your spouse out to dinner.
· Desk top and Lap top computers have the greatest chance for a needed repair 33% to 37%, while digital cameras have the least chance for a needed repair, 8%.
If you'd like more information on this topic and others related to your finances, visit www.reliancewealth.com
E-mail your questions to aaron.maguire@reliancewealth.com
Watch "It's Your Money" every Monday at 11:30 on KSFY.
