Appliances cost money from the moment of purchase through the years of high energy bills and ongoing maintenance costs. To learn how to save money on appliances, keep reading for 7 tips that’ll keep money in your pocket for now and in the long term.
1. Buy the right size.
A giant fridge for a small family of three is not only overkill, but it’s going to cost you more at the store and on your monthly energy bill. Don’t always opt for the larger size; rather, look for an appliance that’s scaled to your family needs.
2. Try refurbishing instead of replacing.
Before you run out and buy a brand new fridge, ask yourself if you can get away with refurbishing the old one. If an appliance runs efficiently but it’s simply the wrong color, you can easily have it repainted at an auto body shop. The finished looks fantastic, will hold up well and doesn’t cost a lot.
3. Always buy energy efficient.
Whenever possible, always buy an EER or Energy Star rated product. The higher the EER tag rating, the less wasteful a product is and the more money you’ll save in the long term.
4. Save your warranties.
Keep all your receipts, manuals and warranties from any major appliance purchase in a safe place. Many manufacturers offer extensive long-term warranties, but not if you don’t save your paper work.
5. Shop at the end of the month or the quarter.
If you’re buying from a wholesale seller or a store with commissioned sales clerks who are able to cut deals, you’ll often find you get a better price if you shop and negotiate closer to the end of the month or fiscal quarter. Many commissioned sales people have quotas and targets they need to meet, so they may be more motivated to sell you that product at a lower price.
6. Ask if you can buy the floor model.
Last year’s floor models could be this year’s savings. Much like the deals that can be found on test-drive cars, buying a floor model can save you a significant amount off the advertised sticker price.
7. Look online to beat price guarantees.
If a local retailer offers a price guarantee (e.g. “if you find a lower price, we’ll beat it by 20%”), always look online for a lower price. Print off the page and bring it in with you. With a little bit of homework, you can save substantial dollars.
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