When it comes to electronics, being patient can pay off big time. While the latest gadgets often come with a premium price, last year’s models can offer nearly identical features at a fraction of the cost. This strategy works especially well for items like smartphones, laptops, TVs, and smart home devices.

The key to saving on last year’s tech is timing. New models typically hit the shelves in late summer or early fall, which means retailers start discounting older versions to clear out inventory. This is when you’ll find some of the best deals, especially if you shop during back-to-school season, Black Friday, or the holiday clearance rush.

Refurbished models are another smart way to save. Many manufacturers, including Apple, Samsung, and Dell, offer certified refurbished products that have been tested and restored to like-new condition. These items often come with warranties and are significantly cheaper than brand-new versions.

Retailers like Best Buy, Amazon, and Walmart also have dedicated sections for open-box and refurbished electronics. These products are usually returns or overstock items that have been inspected for quality. They might come in plain packaging or lack some accessories, but the savings can be substantial.

Finally, consider buying last year’s model directly from the manufacturer. Many brands, like Apple and Microsoft, quietly discount older models on their official websites. Just be sure to check the warranty and return policy before you buy.

By being strategic and timing your purchases right, you can get cutting-edge tech without paying cutting-edge prices.