When buying home appliances, if you are paying in cash, the initial cost for purchasing them will require a substantial amount of money. If you opt for financing the purchase, monthly payments, including the interest, will have to be paid for an extended length of time. Plus, you will also have to pay for the operating costs that you will incur monthly.
Given below are a few tips on how to save money when purchasing home appliances:
- Before actually buying something, ask yourself if you really need it. You'll be surprised at how bringing it into focus like this will often lead to you giving up on the idea of actually spending money on getting a clothes dryer or an automatic dishwasher you may have been vaguely thinking about getting for yourself.
- When you shop for new household appliances, it is a good idea to read the information given on the energy guide labels, which are mandatory on items like water heaters, furnaces, refrigerator-cum-freezers, refrigerators, freezers, dishwashers, washing machines, and air-conditioners. These labels will tell you the estimated cost of operating them annually. Compare various models and makes of the home appliance you require in order to find out which would cost less to operate. The amount you save on the operating costs over its life could be quite considerable. If these savings are invested, you could draw a substantial interest from them.
- You should also take into consideration the prices of the different models and makes. For instance, check if the price of the energy efficient automatic defrosting refrigerator-cum-freezer is more than the one that is not as energy efficient. And then, calculate if the cost of operating it over the life of the appliance will be greater than the difference in the purchasing price. In a nutshell, choose the model and make that will give you the best financial deal.
- Sometimes, it may be cheaper to replace a particular appliance than getting it repaired. Decide what you think will be the most financially advantageous.
- When you compare prices while shopping, find out the trade-in amount you will get for your used gadget. Sell it if you find that you will get more by selling it instead of trading it in.
- Don't rush, buy it immediately, and pay its full price. Instead, wait to buy it on sale. Most appliances are put on sale some time or the other in the year. It would mean saving as much as 10-25%, perhaps even more.
- Never hesitate or be embarrassed to haggle or bargain. You could be surprised at the amount of discount you could get.
- As a rule of thumb, never buy on impulse. Home appliances are costly items, and that is why you need to give it considerable time and thought before actually making the purchase so that you buy exactly what you require at the best price possible.
- When purchasing a home appliance, don't head first for the models that are the most expensive. Instead, check out the models at the lowest price range. Although these models will be basic, without any of the 'extra frills', they may suit your requirements quite adequately. In case they do not, then check the models in the next price range, and carry on likewise, until you find the gadget that you feel is just what you have been looking for. If you begin with the models in the topmost price range, you may end up buying something with features you really do not need, and yet you will have paid more.
- When shopping for used or new appliances, look around, and compare prices at several places, like appliance stores, online outlets, garage sales, auctions, thrift shops, home remodeling businesses, appliance and furniture warehouses, rental shops, departmental stores, as well as the bulletin boards where you live or work. In addition, find out from friends and acquaintances if they or anyone else they know are selling a particular appliance. The more avenues you look in, the higher the chances of you finding what you are looking for at a lower price than you would have to pay otherwise.