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.