it depends, are you going to get the next gen console anytime soon?
A new one comes with a warranty, 2nd hand does not.
If you plan on using it as your sole gaming platform, rather get a new one, then you are covered if it breaks.
i would never buy a second hand 360 or ps3, the failure rate on those console are too high. consoles worth buying second hand would be a wii or a ps2 as they are fairly bulletproof imo.
if you really cannot afford a new console rather get a refurb from game or hifi corp as it comes with the same warranty as a new console but for abit cheaper.
The thought of getting a new 360 at R3600 and a second-hand, which looks brand new comes with a joystick, has 250GB and a Forza 4 game , at R1800, makes me lean more on the second-hand side.
Yeah just be patient. At least twice a month there is a decent console special running somewhere. I bought a 250gb 360 plus controller plus games for like R1999. Keep checking mygaming/mybroadband before weekends for special deals and keep an eye on Kalahari/Takealot/Dion/Game/Makro/BT Games