Tech is expensive, so buying second-hand is always an option. But is it a good idea? We take a look at the pros and cons of buying pre-owned gear.

Tech is expensive: the latest and greatest laptops cost thousands of dollars, cell phones can easily be upwards of $500, and a good printer could run you a few hundred bucks. Even software is expensive. Buying second-hand is always an option, but is it a good idea?

Pro: Cost

This is clearly the biggest factor in the decision process. Second-hand tech is significantly cheaper — a new HTC One M8 on Amazon will run you about $400, while a used one can be had for $290. That’s just over a 25% drop in cost. Some laptops will sell for half of their original price (though Apple products have a notoriously high resale value). It’s not hard to imagine saving several thousand dollars over the course of a few years, depending on how much you buy.

Con: No Warranties

Most manufacturers require proof of the original purchase of their equipment for you to make a warranty claim. Some companies will allow the transfer of a warranty to a second party, but it can be quite a hassle.

When buying second-hand, take a close look at the condition of the item that you’re buying to make sure that it doesn’t look like it’s going to fail in the near future. Buying second-hand from a retailer will likely get you a limited warranty, which could figure into your decision-making process.

Pro: You Probably Don’t Need a New One

For most people, getting the latest and greatest tech isn’t a necessity. If you use your computer for sending emails, reading blogs, checking Facebook, and watching Netflix, you don’t need the newest powerhouse; a mid-range computer from any time in the past five years should do just fine.

The same goes for cameras and phones; for the average photographer, a few more megapixels won’t make much difference, so a used camera will be just fine. And if you just use your iPhone 6 to play Angry Birds and update Twitter, an iPhone 4 is probably going to serve you just as well.

Will It Save Money in the Long Run?

This, of course, is the question. Unfortunately, the answer often depends on the specific circumstances surrounding what you’re buying.

A desktop computer isn’t likely to be dropped and damaged, whereas a laptop can take a lot of hits being toted around in a backpack. Smart home equipment is still relatively new, and there’s no way to tell what sort of lifespan one of these devices should have. Printers are notoriously finicky, and could malfunction or die at any moment.

However, saving several hundred to several thousand dollars over the course of a couple years can make a huge difference in your budget. And if you’re saving up for something big, making a couple second-hand purchases could save you enough money to make that big purchase. There’s always a slight risk when you’re buying used gear, but if you carefully think about your needs, wants, and financial situation, you can make a smart decision.

Also, one final note: if buying a used item directly from its current owner feels a little too risky, consider buying an item refurbished. They test each item to make sure that it’s in selling condition and offer limited warranties. You’ll pay more than if you buy used, but still quite a bit less than if you buy new.