New Smartphone vs Used Smartphone – Which One is a Better Option

Nearly everyone who uses a phone owns a smartphone as compared to older, traditional models. In recent years, the number of people opting for a used smartphone over a new one has increased. The global market for refurbished smartphone grew 13% in 2017, reaching close to 140 million units. On the other hand, the global new smartphone market grew at a mere 3%.

It has become easier for one to own a smartphone due to a number of mobile financing options like EMIs and loans.

Let us look at the pros and cons of buying used smartphones vs a new one.

Benefits of Buying a Used Smartphone:

1. Same Features at a Lower Price
   You don’t want to spend too much but also wouldn’t want to compromise on functionality and features. If that is the case, buy a used phone. You may notice some scratches and dings on the phone but they will operate the same way as a new smartphone would.
   With a predetermined budget, you can get a used smartphone with better features as compared to buying a new phone with the same budget.
   You can consider the option to buy the smartphones on EMI.
2. Have a Longer Life Cycle Than Expected
   If you get the repairs done professionally and replace the old battery, the used smartphone’s lifecycle will be longer than expected. Just small maintenance changes will prolong the life of the used smartphone.
3. Good for Environment
   Discarded smartphones pile up in the landfills and harmful chemicals seep into the soil and water. By purchasing a second-hand phone, you will be preventing the phone from going to the landfill.
4. No Stress of Your Child Cracking the Screen
   Kids as young as 10 years old are getting a smartphone and it wouldn’t be wise to give them a new one. There is a high chance they might drop it and crack the screen. Replacing such parts on a new phone will be expensive. You can minimize these losses by giving them a used smartphone.

Cons of Buying a Used Smartphone

• The phone won’t look new and may have physical defects like scratches and blemishes
• There may be repair costs to fix functional problems
• The technology and hardware may get outdated soon

Benefits of Buying a New Smartphone:

1. The Feel-Good Factor
   Even the most well-maintained second-hand smartphone wouldn’t give you the feel of buying something new. A new phone undoubtedly comes with a feel-good factor.
2. Great Deals on New Smartphones
   Most of the times, there are amazing deals on new smartphones which brings down the price. Major carriers run promotions and huge discounts on the latest smartphones. Don’t pass up such deals as you can own a new phone at the price of a used smartphone.
3. Better Features and Technology
   New smartphone means you will get the latest features, new technology and new hardware. You will also get better functionality and it will work efficiently. There won’t be any scratches and blemishes that are common in used smartphones.
4. Longer Life Cycle by Default
   When you buy a new smartphone, the cell phone will naturally have a long life. Since you will get it at the start of its life cycle, the phone will last you longer.

Con of Buying New Smartphone

 The only con of buying a new smartphone is that it will cost you a lot. But, if you really wish to have a new smartphone, you can buy mobile on easy EMI. In the end, the choice is yours whether you want to go with a used smartphone or buy a new one. Weigh all the pros and cons before making the final decision.

Author bio:

Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@moneytap.com.