7 Ways To Save Money On Kitchen Appliances

Tuesday, March 10, 2020
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Our house was built in 1996. Up until a few years ago, most of our appliances were the original ones that were in the house when it was built and when we moved into the home in 2006. Within the past few years, the appliances have slowly stopped working, primarily due to their advanced age. Kitchen appliances are essential to modern living. Over the years, we've gotten adept at buying new appliances. And because we've often had to do so often, we've gotten really good at finding the best sales and knowing where to splurge and where to save. Whether you’re outfitting your first home or shopping for replacements, here are a few ways in which you can save money on appliances.

Shop for Used Appliances
You can save a lot of money by purchasing used appliances that are in good condition. In fact, it’s not uncommon to find people giving away refrigerators and freezers for free on sites like Gumtree (so long as you’re able to arrange the pick up). While you’ll save a lot of money on the initial purchase price with a used appliance, you do need to be wary of the condition. Heavily used appliances may not work as efficiently and you could end up spending a lot of money in energy and repairs.

Wait for Sales
New appliances tend to be very expensive, but you can often grab deals by waiting for seasonal sales. January is a great time to shop for new appliances as prices are often slashed. Between September and October, a lot of appliance manufacturers also release new models – which means that previous models are discounted. Then of course there’s the Black Friday weekend, which can sometimes feature some great deals.

Avoid Trendy Finishes
We bought a new refrigerator a few months ago, and when we were shopping around, almost every sales person tried to sell us on a slate colored refrigerator. Apparently they are all the rage these days, and stainless steel appliances are no longer en vogue. Lots of people like to adopt color schemes in their kitchens. However trendy and colored appliances tend to be more expensive. Sticking to a basic black or white appliance will save you money. 

Be Careful of Financing Deals
When buying on store credit, you can often pay more in the long run due to added interest fees. Some retailers do offer zero interest finance schemes to get you in the door, but that deal is generally reserved for those with nearly perfect credit. If you can take advantage of a zero percent interest fee for 12 months, go for it. Just be sure to pay off the balance within the specified time frame to avoid finance charges. Also, avoid unsecured finance schemes and loans in which interest rates are likely to be unpredictable.

Consider the Energy Rating
It’s definitely worth considering the energy rating when buying a new appliance as it could affect how much you pay in energy bills each month. Many modern appliances have a good energy rating, while older appliances will be less energy-efficient.

Know When To Repair and When To Replace
A broken appliance may not always be a reason to buy a replacement. There are many services that offer fridge repair and oven repair, allowing you to extend the life of your current appliance until your budget allows for a replacement. Use the 50% rule to decide whether repairs are worthwhile – if repairs are likely to cost more than half the value of the appliance, you’re better off replacing. When it comes to appliances that are only a few years old, always double-check whether there is a warranty in place.

Say No To the Extended Warranty
A lot of appliance retailers try to persuade buyers to take out extended warranties, but these are rarely ever worthwhile. You’ll likely pay more in warranty fees than you’ll ever pay in repair bills. Besides, many of these warranties can have sneaky terms and conditions such as not including certain repairs.

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