As each new model hits the shelves, the gaming companies are fiercely advertising the release date. Commercials show the new and improved graphics and the awesome capabilities. The companies make sure to express how much better this model is than it's counterpart and how much more this new model can do.

Then the child runs into the next room to tell his or her parents how the absolutely need it and how they will be the only one without one. The parents go look at the new model and find the price to be outrageous and are thinking to themselves, how am I going to afford this? This is where the idea of trading in or buying used comes in to play.

There are certain stores out there that will accept a trade in and put the credit towards a new system. This will definitely off set the initial cost. Any little bit helps, right? Things to consider when trading in games or a gaming system are how old the item is and how good of condition it is in. A store is more likely to accept a unit that is fairly new and works well. One other thing the store also looks at is how fast are they going to be able to resell it. I can say with much confidence that you are going to have a greater chance in trading in a Playstation 2 right now than you would an Atari.

Another option to look into is purchasing a used system. The system may have been repaired or rebuilt, but most stores will offer a warranty. Even if your have to purchase an extended warranty, I would say do it. How many of us have not purchased the extended warranty on an item to have a problem arise just days after the initial warranty? Probably too many. If you are going to fork out the cash for the purchase, it a wise idea to cover your investment.

Whether you choose to buy new or used, the thing to remember to be smart about your decision. Shop around. Check out all of your options. There are so many resources at our fingertips that it would be a shame not to take advantage of them.