3 On Your Side: What Will Be Cheaper In 2013
By Jim Donovan
PHILADELPHIA (CBS) - Does it seem like prices are always going up? 3 On Your Side Consumer Reporter Jim Donovan finds that you’ll actually pay less for some things in 2013 and tells us where to expect to find some great deals.
As soon as the ball dropped a lot of folks couldn’t help but think about all the money they spent over the holidays. The good news? You’ll save money on some things in 2013 without really trying.
For example a flood of lease returns has increased the supply of used cars. Jeannine Fallon with Edmunds.com says, “All of these lease cars are coming back off lease three years later, and they’re flooding the market with used cars and that’s helping the prices go down.” You can expect used car prices to drop as much as 4%.
Electronics on a smaller scale will be cheaper too. Google’s smart phone platform is expected to start a price war driving smart phone prices down by the end of the year.
Increased competition will also make tablets more affordable and 2013 will also bring cheaper digital media. Barnes and Noble sells the New York Times best seller ‘Gone Girl’ in hardcover for $14.34. The e-book is just $12.99 and some expect that gap to widen even further. Flat screen TV’s will be a good deal too. Demand is down and so are manufacturing costs. The average price for a 32 inch has dropped from $600 in 2010 to around $300 in 2013.
Housing experts expect a surge this year in home renovations. Stephen Doucet of the National Association of the Remodeling Industry says, “There’s a lot of people that have a backlog signed up already.” But that’s for the warmer summer months. If you start your project now, you could negotiate a better deal on that new kitchen. Doucet says, “If they have crews who aren’t as busy as they like, they may give you some what of a better price.”
The first half of the year will also mean better travel deals. According to Anne Banas of Smarter Travel, “There’s a lot of great deals and if you are traveling at the beginning of the year you’re in luck. If you want sunshine there happens to be a lot of great stuff for say the first three months of the year where you can get away and you don’t have to travel that far.”
Finally, a good year for coffee growers in South America means wholesale prices are down. But it could be a while before that savings makes it into your coffee cup.