Broken Appliances and the Financial Implications

What happens if you open the fridge for milk for your morning tea or coffee, and it’s warm, or you have a massive pile of washing to do after coming back from two weeks in Spain and the washing machine breaks? Or what happens just before a weekend with guests staying and the vacuum cleaner no long sucks, but blows? Broken appliances can be a nightmare. Most are costly items, and if you don’t have a rainy day fund, they can cause you worrying financial problems. Fridges, freezers, TVs, vacuum cleaners, ovens, tumble dryers; we don’t seem to be able to cope without them these days.

How to finance a replacement

Your first thought is probably to buy a new one, but can you afford it? The big white goods retailers offer finance for most goods, although it tends to spread over a long time and therefore costs a lot in interest payments. Another option is to use one of the pay day loan companies such as Wonga, Pay Day Loans or MintPayday Loans. They offer quick loans of money over a short period, reducing the length of time you are in debt.

Price ranges

Currys have fridges for sale from as little as 80 for a mini model right up to 1,000. If your purchase is over 250, they offer finance packages over 10, 24 or 36 months, subject to status, and terms and conditions. John Lewis on the other hand has fridges ranging in price from 130 to an incredible 8,800. A new vacuum cleaner can cost anything from 60 to 600 whilst a new cooker could set you back a staggering 17,000 if you go for an all bells and whistles option.

Repair Shops

Another option is to have your appliance repaired. Most of the retailers will offer a repair service, particularly if your device is covered by warranty. There are also specific repair shops; mostly the one-man-band type of service. However, getting your appliances such as home furnaces or boilers serviced once or twice a year could be a healthy habit as you can get an idea if it requires repair before the chilly weather arrives. You can look for appliance service providers such as Valley Service and others like it that can make sure your heating and cooling systems are up and running. Additionally, check your Yellow Pages or look in the local newspaper for these. Always ask family and friends if they know someone, as word of mouth tends to be the best recommendation for a service of this sort.

Freebies and Second Hand

If your purse is empty, try Freecycle or similar websites. You will often find that people will offer up their old, working appliance for free if they have upgraded to a newer model. Also try sites such as eBay and your local Facebook buy and sell group, as you can find some fantastic bargains there. Local groups are sometimes better in these circumstances, as you won’t have the expense of delivery costs. Make use of your local charity shops; new ones are popping up faster than mobile phone shops at the moment, and again, offer incredible value if you’re not fussed about a new model.