Appliance repaired or get a new one? Good question. Repairing or replacing refrigerators, washers/dryers, dishwashers and stoves can pose a tricky situation. Appliances are expensive enough to warrant repairs but repairs can also be too expensive to be worth it. Where do you draw the line?
Obviously, those appliances under warranty are not a factor in this discussion. It’s those appliances that you’ve had in the 4-7 year range that leave you with that tough decision. Experts say the most dominant factor when making your decision is how old that appliance is and how expensive a model you have.
Consumer Reports conducted a study years ago that still helps today. They surveyed thousands of consumers who faced this dilemma and found these interesting tips and observations:
- If the repair cost is more than one-half of the cost to purchase one then toss it and buy a new one.
- Many respondents felt that appliance repairs would be too costly and too much of a pain-in-the-who-know-what that they didn’t even consider repairing and bought a new one. DO NOT do that. Appliance repairs can be easy and relatively cheap so always explore that option.
- Do not repair anything that costs $200 or less to buy new such as a garbage disposal. Not worth it.
- Most respondents had the best experiences with independent contractors. In these days, ask your friends and neighbors through Facebook or Neighborhood forums who the best appliance repair person is. You’d be amazed how quickly and good referrals you will get.
- Most appliance repairs can be made at home. It’s not as inconvenient as you may think.
- If you end up having to buy a new one, the good news is that they will be more energy efficient.
And, remember, if you’re left without an appliance for a couple of days, go to a rent-to-own store and rent one while you’re shopping around. Or, if you can’t buy outright consider rent-to-own. But only if it makes sense. Use ShopRTO’s best practices to see if rent-to-own is better than a credit card in your circumstance. And, if you want to buy used, go to a rent-to-own store as they can have some of the best “used” deals in town.
Just another ShopRTO lifestyle tip.