Many people are happy to buy second hand cars from a recognised dealer, usually with a full MOT, service and warranty included in the price. This often makes financial sense as cars depreciate considerably in the first few years of ownership.

So why do we often assume that, at the end of a 24 month mobile contract, we need a new phone? If you’re somebody who hankers after the latest flagship model from Apple or Samsung then it will be hard to convince you, but if good value is important to you then you might be interested in a refurbished handset.

For example, a brand new iPhone 7 32GB is priced at £549 at the Apple Store. A refurbished handset (with a 1 year warranty, fully tested and checked with brand new accessories and screen protector) can be had for as little as £340. This translates into a much lower monthly cost over the life of the contract.

We supplied one to a customer this week and it was virtually indistinguishable from a new model. So if controlling costs is important, talk to us about your options when you contract is due for renewal.