It’s never a good day when it happens. You wake up and the dishwasher has flooded all over the floor. Or the oven doesn’t seem to heat up as much as it used to. Perhaps worst of all is when your washer or the dryer gives up the ghost, causing your laundry to come to a full stop. When an appliance bites the dust, life gets complicated quickly. Not only does your life come to a screeching halt, you have to deal with the headache of making a major purchase, too. These tips will help you get back on track, saving the most money as possible when it comes to replacing appliances.
Attempt to Repair First
Before you run out to the nearest big box home improvement store, take a beat. Instead, head to the Internet to see if anyone else has encountered the same problem with their appliances as you. If at all possible, see if you can make the repair on your own. Search YouTube for instructional videos to follow. Be sure with any online investigation you’re using specific brand, make, and model numbers.
If you’re out of your league, considering contacting a repair man. If you’re lucky enough to still have warranty left on your appliance, follow the correct channels. But if not, reach out to your network to see who does quality repair work. Many providers will do a service call for a flat fee and give you the option of further repairs. Sometimes it makes more sense to devote the money you’d spend on a repair toward a new unit. Other times, you can repair for the time being as you begin to save money for that major purchase. Note: it’s also smart to ask the repair person what brands and models he doesn’t have to repair often.
Consider Buying A Used Replacement
If it looks like the appliance isn’t salvageable, but you’re strapped for cash, a used or refurbished option may be your best bet. See if there are listings on Craigslist or Facebook Marketplace. Or simply ask around. You never know when someone decided to upgrade before their appliance went kaput. Again, buying used can provide an intermediate time period to allow you to save adequate funds to stair step up into a newer model. If you do purchase used, you’ll want to know whether or not the former owner smoked or owned pets. And especially for laundry facilities, be sure to smell them thoroughly. Things can be cleaned but sometimes it’s difficult to get strong detergent smells removed.
Hit the Scratch and Dent
Nearly every appliance or home improvement store receives perfectly functioning inventory that suffered cosmetic defects along its delivery path to the retailer. These units are typically pushed to the back aisles or even in an entirely separate space. Ask a clerk or manager if there are currently any scratch and dent models available for purchase. It’s very rare that you’ll display your washer or dryer as a piece of artwork in your home. And you may be able to hide scrapes or dents when you install your new refrigerator. Be more concerned about functionality over form.
Use Coupons and Rebates
Sometimes, your only option is to buy new. But that doesn’t mean you have to pay full price. If you can, wait for a sale or coupon before making your buy. Combining these offers with a rebate brings your savings to the next level. Just remember to fully submit your information to claim your rebate. Companies count on forgetfulness when it comes to those sales inducing extras. Keep track of your receipts and be sure to mail or email the rebate form well before the deadline. Both Lowe’s and Menards rotate 11% back rebates in addition to potential brand rebates. Lowe’s has a military discount, too. I’d also highly recommend checking warehouse retailers like Sam’s Club or Costco for lower prices. And if you shop somewhere like Best Buy, don’t forget the Rewards program.
Start a Sinking Fund
Unfortunately, this pattern is likely to repeat itself. While appliances do typically last more than five to ten or even twenty years, it’s not guaranteed. So begin saving money into a sinking fund now so you’re prepared the next time it happens. It’s never a question of if, but when you’ll need the cash to cover the cost. Consider setting back a percentage of your income to help defray that expense.
It’s never a good day when the things we depend upon quit working. Take a breath and focus. You don’t have to overextend yourself to keep things running. There’s always a path to save money.
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out The Debt Free Devotional
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