And when your first repair comes up two months later and it's $400 you're screwed. That's the way it always worked out for me at least. I only buy new now. Sure there are great deals out there and people have taken five pictures and then put the camera in a drawer for five years but that's not how it happens for me. I always get the guy that had four problems with the camera and dumped it at a pawn shop.
I'm the same way about bikes. I've got a 2010 Cannondale CAAD9-5 sitting in my garage with ONE dent from my knee in the seat tube and I can't bring myself to sell it. I could probably dump it at a pawn shop for $300 but I feel sorry for the next guy to get it.