View Full Version : Budget Buster New Refridgerator or Fix Old One??
06-22-2009, 04:12 PM
Here's the dilemma - DH is currently between jobs. He starts a new job in 2 weeks. We planned for this and have just enough cash to get by until he gets his first check in 6 weeks. We are also trying to do the Dave Ramsey plan. We have an Emergency Fund of $500 and we are trying to pay off all of our debts.
On Friday we noticed our 6 year old Kenmore side by side is not keeping things cold. The refrigerator side is up to about 50 degrees. The freezer side is working okay for now. We have an upright stand alone freezer so we put all meats in that one and left veggies and such in the freezer that's questionable. We troubleshooted online and couldn't fix it. Called several places for repair quotes and it will be at least $200 with no guarantees it can be fixed. It feels like throwing good money after bad. I hate the side by side models and I never should have bought it.
Just happened to be at Home Depot for something else and saw on clearance the exact fridge I want normally $2800 with clearance and a 10% coupon would be $1350 + tax, free delivery.
I am trying to be good and not spend money we don't have. Do I take money from our emergency fund to pay for repair and have less than $200 for the next six weeks? Or do I use Home Depots 12 months 0% interest to get a good deal on the fridge I want? 90% sure I can pay it off before 12 months.
06-22-2009, 05:03 PM
You cannot afford what you want right now, with or without a coupon.
Maybe buy an inexpensive used one to get you by for a while. You can always resell it.
06-22-2009, 05:08 PM
Check with your local utility (gas or electric). Many times they offer very good rebates on Energy Star (energy efficient) appliances. Go to their website or call them. Then when you do go shopping have their list in hand. I ended up getting several hundred dollars back from them when I bought my new front loader washer.
In the mean time, maybe check Freecycle.org or Craigslist to see if anything free or nearly free pops up that you could possibly use until you can afford a new one.
06-22-2009, 05:10 PM
I believe this is a case where you need to spend some money to save some money. You should not fix the broken fridge that you will just have to replace (prob within a yr) anyway. In regarding to buying the expensive fridge or a cheaper model, you should really do your research. I would probably suggest a cheaper (but still good quality) model for around $750-$1000. You say you're 90% sure you can pay it off within a year, but I wouldn't recommend buying it unless you're 100% sure (that interest is killer if you can't meet the deadline). If you really want the new $$$ fridge, then see if you can cut your budget in other places to meet your goal. Good luck with your decison!!!
06-22-2009, 06:54 PM
I would not try to repair the fridge. Chances are, it's not Energy Star rated, and you can buy a new one that is (and is waranteed) for less than $1000. You would save money on your monthly electric (the fridge and dryer are the two biggest energy users in your house) and have a reliable fridge.
As for getting the one you want v one you can afford, only you can answer that. I have always bought the absolute best appliances I can get, even when it meant scrimping on other things, b/c they normally last a very long time and I want to be happy with it. I use my appliances every single day and I don't want to look and say "dang, I wish I'd gotten X fridge instead."
My first fridge was 10 yo when we let it go with the house we were selling (it was too big to go through the door, really - I'd have kept it otherwise). My w/d pair was 15 yo when I passed it on to BIL to get a front loader (it's now 20 yo and still going strong, even on his horse blankets and such).
One good thing about a cheap fridge though - if you buy it now, you can sell it for 1/3 - 1/2 of what you paid (maybe more if you get a good deal) and put that toward what you really want in 2-3 yrs. People with rental property are always looking for kitchen appliances in good shape.
06-22-2009, 09:37 PM
Did you go through a process like this for your troubleshooting?
Family Handyman Refrigerator Maintenance Article (http://www.rd.com/how-to-keep-your-refrigerator-humming/article17790.html)
I'm fairly certain you probably did, but I'll risk looking silly for stating the obvious on the off chance it saves you the expense of buying a new fridge.
06-23-2009, 04:32 AM
May sound stupid, but if you don't have the money for a few weeks just use a couple coolers with block ice for a fridge. You said you have a freezer that you could use for meats and such.
Not ideal...but it would get you through the next couple weeks without spending a penny. You can pretend your camping!:lmao:
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