LOUISVILLE, Ky. (WDRB) --  The deals on Thanksgiving Day, Black Friday and Cyber Monday (not to mention the variety of other discounts offered throughout November and December) are tempting. But some potentially pricey items that may be on your holiday shopping list -- either for yourself or for someone else -- can be even cheaper if you wait. Financial expert Mark Lamkin from Lamkin Wealth Management explains five things you should not buy during the Christmas season.

Cars

Forget the notion of waking up on Christmas morning to find a new car in the driveway. Instead, think New Year's Eve (during business hours, of course) to get the best deal on a new car. Car dealers are in the mood to haggle and clear their inventory before year's end to make room for new models and earn manufacturer incentives. Looking for a used car? Hold off until April for the best deals. It's the month dealers tend to buy the most at auction, giving you the best selection.

Exercise equipment

You might see a few sales on fitness gear and equipment in December, but January is when the real deals appear on exercise equipment, according to DealNews.com. Retailers know that people usually resolve to lose weight in the New Year, so they tend to have sales on fitness equipment in January. Look for markdowns of 30% to 70% on fitness DVDs, treadmills, elliptical trainers, stationary bikes and complete home gyms.

Gift cards

Gift cards are a no-brainer when you're stumped for ideas. However, if you can hold off until after the holiday shopping frenzy has died down to purchase gift cards, you could save yourself some money. According to BensBargains', many people who receive unwanted gift cards as holiday gifts turn around and sell them for cash online. Web sites such as CardCash.com and Cardpool.com buy the gift cards at a steep discount and re-sell them below face value. Since sites typically get flooded with gift cards right after the holidays, the average card price is driven down due to the increased inventory. Also on eBay right after the holidays, gift cards can sell for up to 15% cheaper than the original price.

Winter apparel

Retailers will offer discounts on coats, sweaters and other cold-weather clothing during Black Friday and Cyber Monday sales. However, the deals will be even better in January when stores have clearance sales on winter apparel to make room for spring clothing. CouponCabin says you can expect to see markdowns of at least 75%

Electronics

The prices on televisions, computers and other electronics can be good at warehouse clubs, but you can usually find even better bargains on deal and coupon sites, says Offers.com. Be vigilant when comparing prices. Electronics sold at warehouse clubs tend to be bundled with accessories or have slightly different features than similar models sold at other retail outlets. So you might not find the exact same TV or laptop elsewhere, but you'll likely find something very similar for 10% to 15% less.

BestBuy.com and Sears.com will also have seasonal promotions - look for laptops at back-to-school sales and big-screen TVs around the Super Bowl - and additional savings can be realized when you tack on an online coupon code.

 

Lamkin Wealth Management

5151 Jefferson Blvd., Suite 102

or

901 Lily Creek Drive Ste. 102

office: 502-961-6550 Office

toll free: 866-961-6550

                        

Securities and advisory services offered through LPL Financial, a registered investment advisor, Member SIPC (sipc.org). For a list of states where Mark is registered to conduct business please visit www.lamkinwealth.com

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