With the end of the year nearly upon us, it’s time to start taking advantage of some year end sales. Which means it may be a great time to save on a new appliance or two. If you really need them, of course. Since appliances can be pretty pricey, no matter when you buy them, it’s nice to be able to keep some money in your pocket. There are a few different things to think about prior to running out and taking advantage of a end of the year appliance sale though. So, before you pull the trigger, there are a few things to think about first.
Since everything is made cheaper and cheaper with the passing of time, that equates to a shorter overall lifespan and higher costs of our appliances. Which is ridiculous, if you ask me. But all of these companies would be out of business if they made appliances to last as long as they used to. And due to this mentality, it means we end up shelling out a lot more money than we used to for home appliances.
In fact, the average life expectancy of most major household appliances are as follows:
- Dishwasher: 9 years
- Dryer: 13 years
- Electric Range: 13 – 15 years
- Freezer: 10 – 20 years
- Garbage Disposal: 12 years (On a side note, I disagree with this one since our brand new garbage disposal died after 3 years, which was 2 years after the warranty expired. When I called the company to discuss this issue, they told me they only guarantee them for 1 year now because of reduced life expectancy.)
- Gas Range: 15 – 17 years
- Microwave: 9 years
- Refrigerator: 9 – 13 years
- Washing Machine: 5 – 15 years
Obviously, this range is pretty wide and will vary. But, this is a good jumping off point for planning accordingly.
new appliance PLANning
When it comes to a plan, the best way to begin is by taking an appliance inventory. I like spreadsheets for everything, so this is a good time to play with Excel. Create a spreadsheet with the following appliance information:
- Appliance purchase date
- Make and Model of current appliance
- Make and Model of the potential replacement
- How many years of life each appliance has left based on average life expectancy
- Multiply how many years of life left by 3.22%, which is the current average rate of inflation
- The total amount that appliance would potentially cost you
- Divide the cost by how many years each appliance has left of life expectancy
- Divide by 12 to get the monthly figure you need to add into your monthly budget
Just by taking this one step in planning, you could potentially save yourself hundreds of dollars in the long run. But you can also help remove a lot of undue pressure by making sure you have enough saved for replacement appliances.
YEAR END new appliance sales
Once the life expectancy of each appliance has been narrowed down, then you know which ones you should start keeping an eye out for first. If any of the appliances on your list are getting towards the end of their life expectancy, now is a great time to start looking for end of the year sales.
Traditionally, most appliance manufacturers roll out new product lines in September or early October. By the time the end of the year comes around stores are practically handing out freebies. The end of the year brings some major last minute sales quotas that need to be met. But, most dealers also don’t want to keep old merchandise in stock because they need to make room for the new lines. Which means that if you’re willing to purchase a last year model, you will have amazing negotiating power at this time of year.
Another option if you miss the eoy boat
If you aren’t quite ready to pull the trigger yet, don’t worry. You may still get lucky in January. Since January is one of the slowest purchasing months of the year, dealers need us even more to reach quota. So, if they couldn’t get you in December, they may just be willing to throw everything they have at you now to get you to purchase a new appliance (or 5).
Keep in mind that while you may not get the exact appliance you had been budgeting for, what you can get will probably be comparable. By willing to take the so called leftovers, you could be making out like an appliance bandit. And saving yourself a lot of your previously budgeted money for something else instead.
End of the Year New APPLIANCE summary
Whether we like it or not, we are all going to have to replace appliances at some point. It’s just the nature of the beast in our current world. But it doesn’t mean that it has to cause additional stress on our wallet or our psyche when it happens.
So, take an appliance inventory and create an estimated life expectancy. By creating an appliance replacement plan ahead of time, it’s almost an impossibility to not save money when we have to purchase a new appliance. Overall, now is one of the best times of the year to get a phenomenal deal on a new appliance. As long as you are ready for one and have the money budgeted, of course.
Have you found any great end of the year new appliance deals? If so, where and on which appliances?