November 28, 2014

Ten Money Saving Tips – Read This Before You Buy

Here are some handy tips to consider if you really want to save money on your next appliance purchase:

1. Buy Last Year’s Model
If you don’t mind owning last year’s model, you can shave hundreds of dollars off of your appliance purchase. Best time to shop: September and October when stores are under pressure to clear space for the new arrivals.

2. Shop the Scratch and Dents
A small scratch or dent could become your best friend if you’re on a tight budget. Ask the sales associate if they have any damaged appliances for sale. Then, survey the damaged models to decide what you are willing to live with – even the smallest blemish can net big savings.

3. Buy What You Need
Have you ever noticed how the most expensive appliance models are typically the first that you come to in the store? No coincidence, I assure you. To keep yourself from falling for the latest bells and whistles, make a list of what you need before you venture into the stores. Then, buy the cheapest model that meets those needs. Just remember: that refrigerator with the built-in TV isn’t going to keep your food any colder.

4. Do a Trade-In
It’s no secret that trading in your car can save you money on a new car purchase, but did you know that you can sometimes do the same thing with your appliances? Check with appliance dealers in your area to see if any accept trade-ins. Then, find out how much your current appliance is worth. It could just be your ticket to a bargain.

5. Shop the Sales
Find something you like, but not thrilled with the price? Ask a sales associate when your pick is scheduled to go on sale. Waiting a week or two could be all it takes to reduce your purchase price by 25%. September and October are the best months to make major purchases but the second-best time is during the holidays. Merchants offer deep discounts at Christmas, when consumers want to spiff up their homes for the holidays. Also keep an eye out for sales on the less-celebrated weekends, like Memorial Day, Mother’s Day and Labor Day.

6. Look for a Package Deal
Need a washer and dryer or all new appliances for your kitchen? If so, an appliance package could be your biggest source of savings. Retailers frequently bundle appliances to boost sales, and these packages can offer significant savings over the price of purchasing each item individually.

7. Buy a Floor Model
Do you mind if your new appliance comes without a box? If not, consider purchasing a floor model. You’ll enjoy the same warranty that you’d get with a new-in-box item, without the new-in-box price. Sacrifice a little cardboard and save a lot.


8. Shop Box Stores

Shopping warehouse and box stores can be hit or miss. Sometimes you get a great deal and other times you may pay more. When it comes to appliances, however, you may be surprised at the bargains you can find. Such stores don’t usually honor price matches so what you see is what you get. Before hitting these cut-rate stores, research prices and quality online.

9. Avoid Rentals
It’s tempting to pay just $20 a week for a new refrigerator, but the interest you’ll pay for a rent-to-own appliance means you end up paying much more than the purchase price. These retailers thrive on consumers who pay the minimum amount each month or end up reneging on payments and losing the appliance.

10. Surf Craigslist
Keep an eye on the appliances section for low prices on brand new appliances. Dealers sometimes advertise their overstocks on Craigslist. Look for “dealer” notations to know if you’re working with a store and not a private seller. Realtors and remodeling contractors also offer new or nearly new appliances. You’ll likely have to manage your own delivery and installation, however.

Credit to about.com and couponshepa.com

Shopping for Energy Efficient Appliances

Here’s a great line I just read at bhrealestate.com

Every appliance has two prices: the sticker price, and the one you pay to run the appliance year-round.

When purchasing a new appliance, buyers might be tempted to buy the unit with the lowest sale price while ignoring the long term costs of running it.

Choosing a highly energy efficient appliance can save more money than the additional purchase difference and if used long enough, add to your savings. According to Energy Star, the organization the certifies the efficiency of appliances, in 2007, Americans bought enough ENERGY STAR appliances to limit emissions equivalent to green house gases from 27 million cars — all the while saving $16 billion on their utility bills, or roughly one-third their annual utility cost.

Look for machines that have earned the ENERGY STAR label, meaning they have met strict energy-efficiency guidelines. It’s also important to check the bright yellow EnergyGuide labels on appliances to see consumption rates for that model expressed in annual kilowatt hours and the approximate annual cost of running the appliance.

The article also offered some helpful shopping tips:

Refrigerators – Next to your furnace and water heater, your refrigerator uses the most energy in your home, so make sure a new fridge suits your needs. If it’s too large, you’ll waste energy cooling phantom food; too small may simply be inconvenient. Models with freezers on the top or bottom are more efficient than those with freezers on the side.

Stoves – Cooking habits should determine which is best for you. While the design and price of today’s gas and electric stoves are similar, gas stoves require less energy for stovetop cooking. If you do a lot of baking or oven use, however, the electric stove is a better option.

Clothes Washers – According to the EPA, Horizontal-axis washers (front loaders) use 50 percent less energy, less water and less soap. This translates into savings on average of about $95 a year for the average household

Clothes Dryers – ENERGY STAR does not label dryers since most consume the same amount of energy. Do, however, try to buy one with a moisture sensor that will automatically shut off the dryer when your clothes are dry, rather than completing the cycle.

Air Conditioners – Ensure correct size for your room and go for energy efficiency. If it’s cooling a sunny room, consider increasing capacity by 10 percent.

Natural gas and oil systems
– Look for the Federal Trade Commission EnergyGuide label with an Annual Fuel Utilization Efficiency (AFUE) rating. This measures the seasonal annual efficiency (ENERGY STAR furnaces have a 90 AFUE rating or above).

The added initial cost of energy efficient appliances may seem high, but the savings show up over time and they are gentler on the environment.

How to Save Money Buying a New Appliance

Buying a new appliance is expensive and everyone wants to get a good value for their money.  Sometimes getting less can be more.  According to Consumer Reports, some of the extra features offered on new washers and dishwashers are not needed and just add unnecessarily to the final cost.

Take new dishwasher cycles with names like “turbo zone” and “power scour.” For those, special nozzles are placed in the back of the dishwasher to take care of tough jobs.

Although those cycles do a good job, Consumer Reports testers say they are not essential.

“We find many dishwashers, using just the regular setting, do a great job cleaning our very tough challenge: baked-on brownie mix,” Consumer Reports tester Kim Kleman said.

You can also save by skipping the often-pricier stainless steel tubs and get a plastic tub in your dishwasher.

“People love the stainless steel look, but how many people are looking inside your dishwasher?” Kleman said. “The plastic tub should hold up just fine.”

Many washing-machine models come loaded with lots of extra features – such as cycles made specifically for bedding, active wear and sanitizing. Consumer Reports, though, says you should take a pass on those options.

“Stick with the regular heavy-duty, normal, delicate and white cycles. That’s all you really need,” Kleman said.

As for dryers, don’t be wowed by claims like extra-large capacity, super capacity and king-sized capacity.

“We find most dryers hold plenty, whether it says super capacity or not,” Kleman said.

Although matching washer-dryer sets look nice, they can cost more.

If you’re buying them at the same time, Consumer Reports recommends getting the best-performing, most efficient washer – one that extracts the most water from clothes.

Among dryers, get the one that has a moisture sensor.

Consumer Reports ranked its Best Buys among dishwashers, washers and dryers:

  • Dishwasher: Sears’ Kenmore 1374 for $650.
  • Washer: Frigidaire Gallery GLTF2940F for $650.
  • Dryers: GE DBVH512EF[WW] for $650; GE DPSE810EG[WT] for $500.

Keep to this strategy: Don’t pay for features you don’t need.