How to Save Money on Electronics

Save Money on ElectronicsSaving money on typically pricey purchases is just as important as saving money on your groceries. In fact, you could do your grocery shopping for a month with coupons and likely not save as much as you could on a major electronics purchase – but only if you play your cards right. So how can you keep $100 or more in your pocket?

Here are a few different methods I use to save the most money on electronics:

  • Coupons – yes, you CAN find coupons on electronics. They are rare, but they exist. In many cases, you can find store coupons for a percentage off your total purchase or a percentage off of a certain amount. Either way, it saves you cash, so use it! Even if it’s only a 15% off coupon, if you’re planning to spend $800 on a computer or television, that little piece of paper is going to allow you to keep $120 of that in your pocket. I’ve even seen an occasional promo code from Best Buy for 25% off of some items. Imagine the savings!
  • Watch for the sales and plan to shop them. There are several different times of the year that electronics go on sale at deep discounts. The holiday season is one of them, but don’t forget about tax season and the fall back to school sales. If you can shop the sale AND use a coupon to discount your price even further, you can often save several hundred dollars off the regular retail price on items like computers and televisions.
  • Check for damaged boxes, dents and dings. Every single one of these issues can lower the price, but only if you mention it and ask for the price to be reduced. If you don’t ask for the reduction, don’t expect it to be given automatically because that’s not likely to happen.
  • Ask how much the floor model is. If you’re purchasing an item that has been set out for display and there are limited quantities available, the store may be inclined to sell the floor model. Because it has been out on display and already used, you should be able to purchase it for a significant discount compared to a product that has never been out of the box. The same is true for returned items.
  • Are you in the military or a veteran? Be sure to claim your discount. Most stores offer at least a 10% discount for veterans, providing you are able to flash them your military ID card to prove it.
  • Using store loyalty cards or store credit cards also often result in an additional percentage off of your purchase price. These discounts often range between 2% and 10%. Don’t let these discounts go to waste if you have them on hand.

Put these tips to good use the next time you plan to purchase electronics. If you can combine two or more of the tips above, the savings can be significant.

Let’s look at a hypothetical scenario:

You’re a veteran that wants to purchase a brand new HDTV. You have the cash, but you wait for the sale to maximize your savings. The television you want retails for $899, but the sale price is $799. You find a coupon for 15% off your total purchase of $250 or more and you have a store credit card that will save you another 5% off your purchase. The store has the television you want in stock, but the only one left has a damaged box.

You put the item in your cart and find a store employee who you can consult regarding the damaged box. If the box is damaged, a typical consumer might feel that the item itself could have sustained some damage as well. Even though the product looks okay, whatever caused that damage might have jolted the product enough to damage it internally. Are you taking a risk? Yes, absolutely! That’s why you should not hesitate to ask for a discount due to the potential damage to your item. If you get it home, open it up and it doesn’t work, then you’re out the time, labor and gas money it took to get it home and back to the store. It’s not unreasonable to receive 10% – 20% off for this alone.

So the employee calls the manager, who approves a 10% discount. You take your product to the cashier. You obtain your 10% manager discount for the damaged box, use your 15% off coupon, use your military discount for another 10% off and then pull out your store credit card to save another 5%. Congratulations! You just saved almost 47% off of your electronics purchase! That’s a savings of $420!!!

Yes, now you all know why I’m addicted to saving money. It’s like going to the casino – but I always walk away a winner!

 

Image credit: Justpowers

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