6 Tactics for Saving Big on Your Next Major Appliance Purchase

This article first appeared at U.S. News and World Report Money.

It’s a big expense that everyone dreads. Your washing machine gives out. Your refrigerator fails. From what you can tell, the repair bill will be quite big and it will just help you to keep using an old appliance for a few more years. You’re left with a big piece of unusable junk in your home that simply needs to be replaced.

Those situations hit the wallet hard. A major appliance is almost always an expensive purchase, often sneaking into the four figures. Having an emergency fund helps, but you’re going to want to not only save money on this purchase, you’re going to also want to minimize your chances of having to face this kind of crisis again.

Before we get started, I wanted to mention used appliances. I am often hesitant to recommend buying a used version of a major appliance unless you are deeply familiar with how they work or you have a highly trusted friend who can inspect it for you. It is very easy to sell off a major appliance when it’s near death or has another major hidden problem and without a warranty to protect you, this can be a purchase you really regret. Buy used, but only if you really know what you’re doing.

Many of us will find ourselves buying a new appliance in a tight situation. Here are some tactics to make that purchase easier… and to delay the next time you have to make that type of purchase.

Don’t worry about dings, dents, and scratches. Minor superficial marks usually do not affect the quality of the working parts of an appliance, but they’ll often cause the price to fall drastically. You can save a significant percentage on an appliance purchase if you’re willing to accept a scratch or two or a tiny dent.

If these blemishes bother you, you can usually repair these issues at home with a bit of paint or a dent remover.

Look at (still new) older models. Stores constantly rotate models, yet they’re also often left with a few of the older models still sitting in the back. Since these aren’t the newest and shiniest items, they’ll push the older models off to the side. That’s where you should look.

The latest model will be right out in the front of the display area. The older models will be off in the corner, out of obvious sight. Look at every model in the store before you choose an appliance because you’ll sometimes find a virtually identical model that’s been in the warehouse for several months that has a lower price because it’s not the newest model. Since the “newness” of the model makes little difference to you, this is a great way to save a few bucks.

Utilize rent-to-own stores – but not for leasing. Rent-to-own stores are a pretty expensive way to put an appliance in your home. When people figure this out, they’re often happy to drop that appliance at the end of the lease.

You can take advantage of this. Rent-to-own stores will often sell those models that have come in off of a lease, sometimes with a warranty or guarantee attached. The prices are usually pretty low, too, as the company mostly just wants to get the items off of their hands. They’re well worth checking out, especially when a warranty or guarantee is included.

Look at all ads and try to price match. When you need an appliance, don’t just look at the ads from retailers in your area. Look at ads from anyone who can deliver to you. Then, take that ad to your preferred local retailer when you shop around.

You can often negotiate with that retailer using the advertised price from a competitor. Quite often, the retailer will price match the ad you bring in, which can save you a lot of money and enable you to use a local retailer with the low prices of a more distant retailer.

Ignore the bells and whistles. Appliances come with a lot of bells and whistles – neat little features that seem like a great idea but that you won’t end up using that often or just duplicate something else in your home. Don’t get drawn in.

Consider whether or not you would actually use that feature. It might seem cool, but would you use that feature on this appliance or would you just keep doing things the way you always have? Skip those extra features and save yourself some cash.

Another factor worth considering is that when you add bells and whistles to a product, it becomes more prone to breakdown. The fewer components, the more likely the item is to last a long time.

Maintain your current appliances. The best thing you can do to reduce the amount you spend on new appliances is to maintain what you have. Taking simple steps like keeping your refrigerator coils clean or ensuring that your washing machine is exactly level can greatly extend the life of your appliances.

A major appliance purchase can really hurt your financial plans. If you can take a few simple steps to reduce the financial impact of these purchases, you can turn a crisis into a much smaller financial issue.

Trent Hamm
Trent Hamm
Founder of The Simple Dollar

Trent Hamm founded The Simple Dollar in 2006 after developing innovative financial strategies to get out of debt. Since then, he’s written three books (published by Simon & Schuster and Financial Times Press), contributed to Business Insider, US News & World Report, Yahoo Finance, and Lifehacker, and been featured in The New York Times, TIME, Forbes, The Guardian, and elsewhere.

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