Define Factory Refurbished
Buying factory refurbished makes expensive products, such as computers and televisions, much more affordable. While these do carry more risks than a new unit, they are, by and large, very safe to purchase.
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Identification
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Factory refurbished refers to any product that a retailer sends back to the manufacturer for repair and inspection, and then resold.
Common Reasons for Refurbished Unit
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Products are send back to the factory for refurbishing for just about any reason. When a customer returns a product to the store, the retailer must send it back for inspection and repackaging. The unit may have experienced damage during shipping, even something as "frivolous" as slight scratching. An opened box still requires "refurbishing."
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Benefits
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Best Buy reports that refurbished products give the shopper an average discount of 15 percent to 20 percent off the original price. In addition, they typically include a 90-day warranty.
Considerations
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Not knowing the history of a used product certainly presents the potential of buying a "lemon," but factory refurbished units must meet the same standards as new versions of the same model.
Where to Buy Refurbished Units
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Most large online retailers, such as Amazon, also sell factory refurbished models. Some of the larger land-based retailers, such as Best Buy, are beginning to sell refurbished units, especially in their online catalogs. Note that stores also sell open-box items at a discount. These are not refurbished, but usually a display model or missing a certain part.
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References
- Photo Credit Image by Flickr.com, courtesy of John Steven Fernandez
