It has been interesting to watch the quality of TVs and other electronics improve steadily over the years, while prices have declined. From 1997 to 2015, the price index for TVs fell by 94%, according to the Bureau of Labor Statistics.
Thus, despite constant upgrades and new features, TVs are becoming more reasonably priced every year.
You must, however, keep a price-conscious attitude when buying a brand new TV. You have to spend several hundred dollars on the latest LCD TV or Plasma models. Buying a TV can be a major purchase, so be sure to choose one with the right features at the right price.
The good news is that there are many ways to keep costs down on a new TV. With these strategies in mind and ample time to shop, you should not have a problem upgrading your TV.
Note: Those who want to save some extra money on TV can look for TV packages offered by different providers. For instance, exploring https://www.localcabledeals.com/Spectrum/Packages might pose great for you if you want quality content, including your favorite shows and documentaries. Similarly, there are other providers that offer similar affordable TV deals. All you need is to do a little research. You need to check which providers are available in your area along with the budget constraints and channel list.
How to Save Money on a Brand New Television
There will be a hefty price tag attached to buying a new TV. The price is typically determined by the features, screen size, and brand. Your savings will not go far if you are set on a certain TV size and model.
Even if you buy a large TV, there is no need to pay full price for it. You can save money when you upgrade your TV by implementing one or more of the following money-saving guidelines.
- Buy online
You might find it intimidating to buy a new TV online. To visualize what it would look like in your home, you probably want to see it in person.
It is, however, possible to save money on a new TV by buying online. When you shop online you save time, and if you use shopping browser extensions, you can easily compare prices to make sure you are getting the best deal.
Prices are tracked across thousands of retailers by extensions. Also, you can earn free gift cards when you shop at specific retailers with extensions. You can save a lot of money when you use a coupon code for a high-ticket item like a TV.
For the best deals on TVs and other electronics, check online tech deal sites.
- Credit cards that offer cash-back rewards
It is expensive to buy a new TV. Furthermore, if your new TV is part of a renovation or move, you are probably facing other major expenses in addition to your new TV.
Paying with a cash-back credit card on everyday purchases is a smart move. Credit cards become even more valuable when you need to make large purchases.
In addition, many credit cards offer introductory bonuses when you make a certain amount of purchases in the first few months. You are making the most of your money when you use a bonus while TV shopping.
- Beware of Extended Warranties
A warranty extension is a protection plan that covers defects and damage. Consumer electronics, mobile devices, vehicles, and home warranty plans are all common examples of extended warranty plans.
It might appear like extended warranties are worth the extra cost on paper. The first instinct is to protect yourself against damage and dissatisfaction in the event of a new TV or other expensive purchase.
Consumer Reports, however, finds that extended warranties for electronics are rarely worth the price. Most of us overestimate the probability that our technology products will fail. Here are a few additional points to keep in mind:
- Warranties provided by the manufacturer. Manufacturers usually provide some type of warranty for technology products. You might be able to protect your purchase against defects with a 90-day warranty.
- View store policies for details. There are generally lenient return policies at big-box retailers, which cover product defects or malfunction. Depending on the store, you may even be able to return products without a valid reason, provided they are not damaged.
- Consider buying an older model
Every year, TVs improve as new models are released. There is an increase in resolution to 8K, a larger screen size, and a sharper picture. There is no doubt that the latest models of technology and cinema are a source of excitement for technophiles and movie fans alike.
As you shop for TV, you should consider the diminishing returns on your investment. Is it really necessary to have the latest TV model, the largest screen, and the sharpest resolution? The best way to get the most value out of an older TV model depends on your room, viewing habits, and budget.
- Shop when it’s the right time
It is sometimes possible to save a great deal of money by timing major purchases. Different retailers set different prices for different products based on season and demand. Therefore, if you are preparing to spend a few thousand dollars or more on a brand new TV, you might want to hold off.
Super Bowl and Black Friday have historically been the most popular times for TV deals. TV shopping is especially popular during Black Friday because nearly all major retailers offer discounts on electronics. Keeping an eye out for Super Bowl deals is not common, but they are worth checking out.
Ideally, you should research presale prices a few days before a sale begins to ensure you get the best deal. Often, retailers simply raise the regular price of an item to make it appear like a “sale” so that your sale price looks lower.
- Take advantage of reward websites and applications
Websites that compare prices or feature daily deals can be useful when searching for discounts. Some of the biggest savings can be found with cash-back reward websites, though.
Changes can be made to cash-back rewards.
- Look for cheaper brands
Generally, you get what you pay for when it comes to electronics. Go for the most inexpensive option when you are buying a new TV, a laptop, or noise-canceling headphones when you are shopping.
You might be better off spending more on a premium brand and model if you are buying a TV for your home theater or family room. You do not have to buy an expensive TV to watch the hockey game in your garage or to send your kid to college if you just need one for watching hockey games.
There are cheaper TV brands like Vizio and Insignia that can meet your needs without draining your wallet. Alternatively, if you come across a reputable seller and fully understand the TV’s warranty, you can shop for refurbished electronics.
TVs are generally something we need to replace every few years, like most electronics. It seems like there are always new models coming out, screens get bigger, and upgrades are inevitable.
You are not doing anything wrong by purchasing a new TV or even splurging on the latest model with the latest specs. However, when it comes to buying a new TV, you do not need to pay full price, especially if you are on a budget.
Lastly, before making your next upgrade, consider the waning returns. While brand-new TVs are a luxury item, spending more does not necessarily result in a higher level of enjoyment.
We hope these aforementioned tips help you in making the right choice of which TV to get. If you have questions and suggestions, please leave a comment in the comments section below.