Most items will go down in price over time, but unfortunately this isn’t true for everything (and some items may go down in price but it’s difficult to predict when). While it’s true that some items are not worth their price, there are other expensive items that you just need to go ahead and buy if you really need them, because the price may not go down any time soon.
Instead of waiting for a steep discount, you may have to buy these items because you want them or they will improve your life. If you wait for a deal, you might be waiting for a long time. It’s also a good idea to go ahead and buy certain items if you do find them on sale and you know you will need them down the road, even if you don’t need them right away. Here are four items to consider.
1. Brand new cars
Yes, cars do go on sale. Every dealership will have a sale once in a while, and you might be able to strike a deal with a car salesperson, but in general, you’re not going to save a ton of money when you are in the market for a brand new car. If you like a particular model, it will certainly be cheaper in a few years, but that is only because it won’t be brand new anymore. Ideally, you have been saving money for a while and you can afford to buy a new-to-you car. You can maximize your deal by buying the car at certain times of the year.
According to The Huffington Post, consider purchasing at the end of the month, when new models are coming out, at the end of the day, or when a rebate is being offered. Be sure to avoid buying a car when it is in high demand, after credit inquiries, in the spring, or at the beginning of a new model year or before a model gets reviewed.
If you want to get married, you’re likely going to spend a lot of money at some point. The average cost of weddings in the United States is $26,645. Your wedding will go up depending on which day of the week you chose, the season, and the location, but in general, those costs will regularly be the same or rise (a Saturday wedding isn’t suddenly going to decrease in price anytime soon).
If you want to save money, you can choose to get married on a less popular day, invite fewer people, purchase less expensive food, or cut costs in other ways. You’re much better off getting married if you truly want to, and planning your costs carefully, rather than just waiting and hoping that your dream wedding will cost less in a few years. If you found the love of your life, and you want to get married, then doing so may make you happier and improve your life.
3. A degree
College costs continue to rise, and for many people, the costs are insurmountable. You can certainly save money by attending a community college for your first two years, or choosing a state school. However, the cost of any education isn’t likely to go down in the immediate future. According to the College Board, after adjusting for inflation, between 2011-2012 and 2016-2017 published tuition and fees rose by 9% for the public four-year sector, 11% at public two-year colleges, and 13% at private nonprofit four-year institutions.
College isn’t right for everyone. However, if you are positive about your future career path, and you need a degree to get the job you want, then financially it doesn’t make sense to wait in hopes of prices going down. Instead, improve your quality of life by getting the education you need to obtaining the job you want.
4. Top products
If you are choosing a luxury item, you will probably never find it on sale. Part of the allure of luxury items is often the name and brand recognition, and you will pay for purchasing an item from a specific company. In the case of some items, you will pay more because you know you are getting a quality product. In other cases, you are simply paying for the fact that the item you are getting is fancy. In this case, you probably know ahead of time that you want something for a specific reason, and you’re just never going to find it on sale. So, if you want a fancy handbag, a designer watch, or a crystal bathtub, you clearly enjoy high-end things, and you can’t expect to find a good deal on these items.
There are occasionally sales on pretty much everything, and you can often make a deal on things that are regular price. However, waiting in hopes that prices will drop dramatically on one of these items may leave you waiting for a very long time. If you do happen to see a deal on one of these items, go ahead and buy it if possible, if you know you will need it or want it in the future.
It’s true that most things will eventually go on sale. However, if you know that having your wedding now, or going to college soon, will improve your life, then go ahead and budget to do it sooner than later. Waiting for prices to go down on things that improve your life isn’t always worth the wait.