Top 10 Money Saving Secrets When Buying Electronics

Buy Online. On average, readers who bought online rated their overall satisfaction at 90 out of 100—higher than for those who bought in a store. Still, in a survey conducted by the Consumer Reports National Research Center, only about one in five respondents bought online.

The reluctance to buy online might be due in part to concerns about the cost of shipping a large, heavy item or worrying that delicate electronics might be damaged in transit. But many Web merchants offer free shipping, even on TVs, so you don’t have to struggle to fit a bulky carton in your car or pay a local store for delivery. And very few readers in our survey complained about shipping damage, even with big purchases.
Do your research! Before you venture out into any stores do your research and know what you want. Do you want a plasma or LCD screen TV? How much storage do you really need on a new computer? How many pixels should your new camera have? By educating yourself before you start shopping, you know what features your new electronic gadgets needs to have. You know what's important to you, and what's not, and you can do without. When you arm yourself with the right information, you don't fall prey to sales people who try to up sell you products and special features you just don't need. Do your research and be aware of this before you start shopping.
Be wary of pricey add-ons: Retailers may push high-priced accessories such as premium video cables for a TV or ultra-high-speed memory cards for a simple point-and-shoot camera. As a rule, choose regular alternatives. Those fancy versions can cost twice or more as much as standard items but aren’t likely to give you much performance benefit.
You don’t need an extended warranty: It looks like consumers will be buying fewer warranties this year to extend coverage on electronics items beyond the manufacturer’s standard term. That’s partly because of the growing awareness of just how reliable many electronics products are.

Repair histories confirm that repair rates are low overall, though some brands are more unreliable than others. But even in the unlikely event that a repair is required after the manufacturer’s warranty expires, the bill for the repair is often comparable with the typical cost of an extended warranty.

If you use certain credit cards, including American Express cards and some gold and platinum cards from other companies, you can double the manufacturer’s warranty at no cost. Some retailers might extend a warranty as well. Costco, for example, extends the manufacturer’s warranty on TVs and computers to two years from the purchase date, at no cost to you.
The best prices come early in the season: We’ve generally found that the lowest prices of the holiday season on flat-panel TVs and more have been offered on Black Friday and the other frantic shopping days after Thanksgiving. But you might not want to brave the crowds to snag those bargains. If you do shop early for an item and the price drops later in the season, check to see whether the retailer offers a price guarantee that entitles you to a refund of the difference. Several major chains do.
Consider refurbished and open-box items: It can be worth buying a “pre-owned” item if you can save 30 percent or more over buying new. Refurbs are generally items that have been returned and supposedly restored to good-as-new condition by the manufacturer, then resold by the manufacturer or through a retailer. An open-box item is a return that a retailer supposedly inspects, confirms is in working order, and then resells.

To minimize the risks, buy from a manufacturer or retailer you trust. You might not get a warranty, especially on refurbs, but the return policy can be the same as for new items.
Asking for a lower price often works: Though bickering over price may be more often associated with buying a car, a recent Consumer Reports survey found that about a third of shoppers tried to negotiate the price of an electronics item within the past three years. Most succeeded at least once in their efforts, and savings from their most fruitful haggling was $50 or more in most instances.
Recognize what each retailer offers: Retailers often carve out a niche that emphasizes low price, broad selection, convenience, or ultimate hand-holding, but no single merchant has it all. Minimize your frustration by shopping at a store that plays to your priorities.

Warehouse stores such as Costco and BJ’s Wholesale stood out solely for price, so don’t shop there if you want lots of service or a wide selection. Mass merchandisers, including Wal-Mart and Sears, were middling in price, and their shopping ease and service varied from average to well below. Independent electronics stores and the best chains, all regionals, plus a manufacturer’s outlet were standouts for service but tended to be below average in price satisfaction. Office-supply chains, though respectable performers in many ways, were among the worst for their selection of items.

So once you’ve decided on your shopping priorities—low price or best selection, for example—head to the nearest retailer of that type, whether down the street or online, rather than worrying about modest differences among similar retailers.
High specs might not ensure high quality: Ads and in-store sales pitches often imply a direct relationship between high resolution and high image quality. Some top-performing TVs boast 1080p resolution, the current gold standard among high-definition video formats, and many highly rated cameras have 10 or more megapixels of resolution.

But resolution isn’t everything. Some high-def TVs and high-megapixel cameras fall short in other respects, such as contrast or color. Conversely, there are models with lower resolution that manage fine performance because they ace those other attributes. So don’t buy based solely on specifications.
Performance often runs in the family: You won’t go wrong if you buy a model that scored well in consumer reviews and ratings online. But what about a model that you hasn’t yet been reviewed or rated? Products similar to high-rated models, such as those within the same brand line, often turn out to good or sometimes better than their previously rated counterparts. If you buy electronics from a brand with a good track record, history suggests it should be a good choice.

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Top 10 Money Saving Secrets When Buying Electronics