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Tata Capital > Blog > Capital Goods Loan > 3 Deciding Factors for Your Next Refurbished Product

Capital Goods Loan

3 Deciding Factors for Your Next Refurbished Product

3 Deciding Factors for Your Next Refurbished Product

When you hear the word “refurbished”, do you instinctively think of an opportunity to save money?

Well, you’re not alone. Today, many people have softened up to the idea of buying used laptopsand refurbished smartphones rather than going for brand-new ones. It is not only a cost-effective option but a sustainable one as well. 

But it is best to exercise caution when it comes to refurbished goods, as there’s always an off-chance that a product doesn’t meet your expectations. 

So, to prevent disappointment and ensure you’re never dealt a bad hand, here are three factors you must consider before buying a refurbished product. But first, let’s understand what refurbished products are.

What are refurbished products?

Before we discuss how to make purchase decisions in regard to refurbished products, let’s first

clarify what falls into the refurbished category. Simply put, any product repaired, repacked, or reconditioned for sale qualifies as a refurbished product. 

These products have had a life before they came to you. How long of a life, well, that’s impossible to determine. It could be a day old or could have been used for a couple of years.

All these reconditioned products, whether quality refurbished laptops, phones, or PCs, are carefully inspected and tested to ensure they function like a new product, making them pretty safe to use. 

But not all refurbishments are the same. Usually, it is the OEM that repairs the product. However, refurbishments can also be made by a third party looking to resell the product. As a rule of thumb, always buy from the original manufacturer simply because they can access the right parts to make a product as good as new.

The same diligence applies to online marketplaces as well. When buying used laptops or smartphones from online marketplaces, check the seller default rates, as many online platforms have bad payment policies. So, it is possible that you pay for the product, but it is never delivered to you. Stick with renowned platforms such as Amazon and Flipkart.

There’s no definitive way to determine the product quality. You’ll inevitably have to shop around and research to find the best possible product at the best possible price. Here are some pointers to help you in that process, specifically in the case of refurbished laptops. 

Three factors to consider when purchasing a refurbished product

#1. Quality of the refurbished laptop

Laptops make up most of the refurbished market, as upgrading to a new laptop isn’t always the most cost-effective thing. 

However, before buying used laptops, make sure you do a thorough quality check. Keep an eye out for bodily defects such as scratches, dents, and other defects. As a rule of thumb, look for a seller with a good reputation for selling refurbished laptops. There also are Microsoft Registered Refurbishers or refurbishers with a similar certification in the market where you can find quality used laptops. 

Even if everything seems to be running smoothly in the store, check the laptop warranty and return policy before you leave the store. Refurbished laptops do come with at least six months of warranty, which is ample time to test the other internal aspects of the laptop. 

#2. Laptop age

When buying used laptops, factor in the age of the laptop as well. Because however well-maintained a laptop is, if it is too old, it won’t be able to handle the computational needs of today. So, make sure that a refurbished laptop is, at most, only two generations old. That way, you can ensure that all your programs run smoothly without any significant lags. It also means your system will be able to handle new updates for a longer period of time. 

Another factor that varies significantly with age is the battery life of a laptop. Since most electronic batteries are lithium-ion based, they lose considerable health after 3-4 years. Also, since updated programs are well-optimised to new chip architectures, old processors start consuming more power, resulting in a double whammy of reduced battery health and increased power consumption. 

You could always install a new battery on a refurbished laptop. But that would add to the overall cost. So, it is best to opt for a relatively new model of the laptop when buying used laptops. 

#3. The price

Even though buying used laptops is all about the price advantage, it is best to compare the same model across the market and choose the one with the lowest price. Of course, there will always be a quality-price trade-off, so stick to striking a balance between both factors. 

Make sure you compare the price of the refurbished product with its brand-new equivalent as well. Because the difference is often not all too great, in which case, you’re better off with a new product. If you plan to add any upgradable parts of a laptop to your system to improve the specs, research the market properly to make an informed decision. You may find a laptop with the upgraded specs at the same price point, eliminating the need to purchase additional hardware components. 

In summary

Buying used laptops can be an exceptionally cost-effective investment, as you enjoy bleeding edge specs without bleeding your wallets dry. Be that as it may, a thorough review of the factors listed above is crucial if you wish to ensure value for money. 

Apart from the cost aspect, buying used laptops is also an environmentally friendly choice, as you prevent a device from going to the landfill. 

But as cost-effective and sustainable of a choice refurbished products are, they can never truly replace the shine and certainty of a new product. 

If you share this thought as well, we at Tata Capital are here to make purchasing financially simpler for savvy technophiles like yourself. How? With our affordable and convenient consumer durable loans! Yes, with fast loan processing, a straightforward application process, and a 0% interest rate, you can easily buy your favourite laptops or smartphones without ever considering the used option.

So, why wait? Apply today!

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