Save Money Buying Overstock or Returned Items

August 29, 2009

power wheels

Overstock or returned goods can save you a ton of money!  I’ve written in the past how I used to buy merchandise like this, then turn around and re-sell it on eBay for a big fat profit.

However, even if you have no interest in making extra money on eBay, overstock goods and returned items can can score you some really great deals for your own use.

Getting a 64% Discount

For example, our son loves cars and trucks and used to have a blast riding in our neighbor’s Fisher Price Power Wheels car.  After they moved away I thought he’d never ride in one again because they’re pretty expensive but we just bought him one today for 64% off!

The one we found retails for $250 and we bought it for $60 cash (minus a battery charger) at a local overstock store.  Often times these types of stores will have a random assortment of various goods but this one actually had rows of power wheels and other powered kid cars.

Merchandise Brand and Quality

These are the same cars you’d find for sale at Toys R Us. Some of them are returns, some are merchandise that didn’t sell, and some are cars with small defects. For example, ours was brand new but they had lost the battery charger in shipping so I came home and ordered one online for $30. Still, buying a $250 car for only $90 is a pretty sweet discount.  I didn’t have to pay tax or shipping and it was already assembled.  I pulled it out of the back of the car when we got home and our little guy took off down the sidewalk. 

Negotiating Prices

Many times you can bargain with the store owners because they buy the stuff for pennies on the dollar and have room to negotiate.  One of my friends went to the same store last weekend and talked the guy down to $190 on a car he was selling for $250 that retailed for around $400.  Of course, there is often no return policy on goods like these so make sure you test it out well before you buy it.

Finding the Stores

Your best bet on finding stores like this is to simply ask around. I hear about most of these places through word of mouth.  You can also do a web search on the words overstock or overgoods and the name your local cities.

Happy shopping, Hopefully you’ll save a lot of money

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Ben

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Ben
Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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