No doubt big appliances cost big money. So, let’s say your washing machine decides it’s done and suddenly stops mid-cycle, you are left to answer one very important question: repair it or replace it?
Consumer Reports says you first need to consider a few things when it comes to any big appliance:
- How severe is the repair?
- What might it cost to make the fix?
- How old is the appliance?
- How much did you pay for it in the first place?
With washers, you also need to factor in use, too.
“With a refrigerator, you’re getting the same usage in a typical household most days. They’re on all the time. With a washer, if you live in a family with a lot of children at home, you’re doing a ton of laundry -- multiple loads a day. In some cases, even if the washer is only a few years old, it might make more sense to replace it because it’s had that much wear-and-tear on it,” explained Paul Hope with Consumer Reports.
But say you paid $1,000 for your washer three years ago and only do a few loads a week. In that case, a repair might be the better financial choice.
“Before you go calling a service person for your washing machine it makes sense to look at what is actually going on,” Hope suggested. “Start with a simple search ... look to see if there are any recalls on the washer or if they’re simple fixes like a clogged filter or a kinked hose. Lastly, you want to check your warranty and see if it’s something that has extended coverage that you can get repaired for free before you make a call to a service person.”
Use Consumer Reports’ interactive tool to help you decide
Whether it’s a washer, a fridge, or another broken appliance, Consumer Reports has a free interactive tool to help you decide if it’s a better financial choice to pay to repair it or pay for a new one.
The tool walks you through the steps of picking the appliance type, how long you’ve owned it, how much you paid originally and then how much the repair might cost. It will then calculate for you.