By Brandi Savitt – updated September 18, 2013
Savvy Tips to Help You Save Big
Our friend Lisa’s refrigerator just died and she called us lamenting her bad luck – she just wasn’t planning on shelling out big bucks this month! Much to her surprise, we told Lisa this may actually be excellent timing for her old fridge take it’s final bow…
First of all – the Federal Reserve announced today that they are continuing their policy of quantitative easing for the time being, which will help consumers like Lisa by keeping interest rates low. And second of all – it turns out that right now is actually the best time to shop for major appliances!
Shop for Appliances in September & October
That’s right – according to David Bakke from Money Crashers, the best time of year to buy most major appliances is in September and October. “These are the two months where most manufacturers are unveiling their latest models. This means that it’s time for the previous year’s models to be discounted and let go at bargain prices.” Which all adds up to big savings for Lisa!
Get a Deal on the Floor Model
If you find something that fits the bill, ask if the floor model is for sale. You can often save between 5-35% if you can put up with a little ding or the mere fact that it’s been in the showroom for awhile.
In today’s marketplace, many of us think if we shop for major purchases at local Mom & Pop shops, we’re going to see marked-up prices. Think again!
While smaller shops often carry some higher end items, they also have the flexibility to negotiate. And if you can afford to pay for the item upfront in cash, local stores are often happy to give you a discount without a lot of haggling!
Avoid the Bells & Whistles
If you’re eying an appliance with fancy digital electronics, REALLY DO YOUR HOMEWORK and check out the manufacturer’s warranty. Florida real estate maven Mike Arman says, “Often times these (fancier) machines are prone to failure from power surges, nearby lightning strikes, and just general unreliability due to their innate complexity. The electronic boards are invariably insanely expensive and often discontinued within a few years”.
The technology of motors, compressors, belts, agitators, stove burners etc., have not changed significantly in decades and remain very reliable, affordable and widely available. Mike says that it’s the experimental whistles and bells that often break causing you to have to replace the expensive part directly from the manufacturer – because no one else makes it. Don’t fall for the gadgets unless you’re willing to pay the price of costly repairs!
Energy Ratings Count
Don’t poo poo the energy ratings when shopping for appliances. Sure, you might be able to save $100 upfront by buying a less efficient refrigerator or stove. But over time you’ll save hundreds more on your utilities bill by purchasing a more energy efficient machine!
Are you in the market for a new appliance? What are your money tricks of the trade?| Print