I’ve been evaluating a big ticket purchase.  Caught in a Canon camera conundrum for more than six months, researching models and prices.  Not as high priced as a house or car.  But expensive enough that a well researched solution is needed.  And these types of transactions occur more frequently.  Recall The Money Skinny™ mission is to save you time and money.   Let’s review how to evaluate a big ticket purchase to maximize your savings.

Narrowing the Big Ticket Purchase Focus

Research manufacturer and models online.  I reviewed the Cameras subreddit for unvarnished company and product opinions.  After choosing a manufacturer, look at the current models and one earlier version.  There’s an opportunity for saving money buying an earlier released generation of a product.  I’ve narrowed the focus to the Canon Rebel T8i  and Canon Rebel T7i .  Use The Money Skinny™ Value Sourcing Technique to find the same product for sale at competing outlets.  This camera is sold at Walmart and online at sites like Adorama.

Why this Canon camera?

The Canon Rebel “i” series has additional video functionality.  I plan to insert a GIF of me doing a cartwheel when referencing the Target Cartwheel app on The Money Skinny™.  So there’s that.  The newest model is the Canon Rebel T8i replacing the earlier version Canon Rebel T7i.   The T8i has significant processing differences from the T7i.  However, even the T7i would stretch my videography skills.  Evaluate newer technology versus the incremental price.

Big Ticket Purchase Rebate

A big ticket purchase sometimes relies on a rebate to be competitively priced.  The key to obtaining the rebate is to submit the rebate form, UPC code and receipt before the deadline.  Take a picture of all rebate documents to avoid a flimsy denial.  Consider using registered mail for a high dollar rebate.  **Remember sales tax is paid on the total purchase price.  A rebate has no impact on sales tax.**

Big Ticket Purchase Headache Bundle

Any time products are bundled there is a risk that not all the items are wanted.  This Canon T6i includes a Canon photo printer.  The printer retails for $500.  Resell the printer to reduce the net price of the bundle.  This printer weighs 43 pounds.  Mailing it to Poughkeepsie is expensive.  Online selling fees also reduce profit.  Another option is to sell the printer locally with Craigslist to avoid postage and fees.  See The Money Skinny™ post Make Money Selling on Craigslist.  The printer is key to this camera bundle because it triggers the rebate.  Lukewarm on some bundled items?  Wait for a better match.

Big Ticket Purchase On-going Costs

Consider differences in the on-going costs of a big ticket purchase.  Front-loading washing machines use less water than traditional top-loading machines.  A tank-less hot water heater costs more to purchase but doesn’t maintain a reservoir of hot water.  It’s a just-in-time hot water producer.  The availability of replacement parts can also be an issue.

Big Ticket Purchase Life Expectancy

How long do you plan to use this product?  If I’m relocating in a couple years, I’m not investing in a tank-less hot water heater for the next homeowner.  Recall the comedian George Burns while in his 90s joked that at his age he didn’t buy green bananas.  Also, do you think your skill level advance?  It’s easy to over-buy in anticipation of having to trade up.  Or worse, aspirational products for your vision of your future self.  The Money Skinny™ best practice is to commit at the lowest level of expense.  Then spend more to upgrade later, if needed.

Big Ticket Purchase Showrooming Story

I looked at this camera at a local camera store.  The salesperson was pressing me to purchase the printer with the camera because after-rebate the printer was essentially free (except for sales tax).  “Sell it, if you don’t want it…” said in a no-brainer type way.  Just a minute.  As a resale veteran, I know resale can be a lot of work.  Fraught with hassle.  A The Money Skinny™ truism is that there’s no easy money lying around.  Proceed cautiously when using a future hypothetical resale transaction to justify a purchase.

Big Ticket Purchase Delay Tactic

Delaying the big ticket purchase can be a viable tactic.  Will prices drop?  Will a deal sell-out and I join the sans camera sideliners kicking themselves?  Am I willing to do the work to resell a printer or request a rebate?  Do I need to start practicing that cartwheel?  If there’s no clear solution, delay the decision.