The Best Time To Buy New Appliances

5 Times You Can Save On Appliance Shopping 

Let’s explore 5 prime opportunities to score big on your next appliance shopping spree.

1. Major Holidays

Holiday sales are some of the best times to find discounts on appliances. Retailers often offer significant savings during these periods:

• Black Friday and Cyber Monday: The day after Thanksgiving and the following Monday are prime times for deals on various appliances. Both online and in-store, you’ll find steep discounts on everything from refrigerators to washers and dryers.
• Labor Day: Many retailers clear out inventory in preparation for new models arriving in the fall. This is an excellent time to find sales on current models.
• Presidents’ Day: Held in February, Presidents’ Day sales are another great opportunity to find appliance discounts.
• Memorial Day: This May holiday marks the beginning of summer sales, often featuring significant appliance markdowns.
• Independence Day: Many stores have Fourth of July sales, offering discounts on various appliances. This mid-year sale is perfect for picking up a bargain.
• Back to School: While primarily focused on school supplies, many retailers also offer deals on small appliances, ideal for college dorms and apartments.

2. End Of The Month and End Of The Year

Retailers and sales associates often have monthly and annual sales targets to meet, which can lead to better deals for consumers:

• End of the Month: Salespeople might be more willing to negotiate prices to meet their monthly quotas. This can result in better deals if you’re looking to buy towards the end of any given month.
• End of the Year: In December, stores are eager to clear out older models to make room for new stock arriving in January. This makes the end of the year a great time to find deals on last year’s models.
• Air Conditioners (Late Summer/Early Fall): With summer winding down, the demand for air conditioners plummets. This is prime time to find fantastic deals on AC units as stores try to make space for fall and winter inventory.
• Heaters (Late Winter/Early Spring): As the weather warms, the need for heaters diminishes. Take advantage of this seasonal shift by grabbing a heater at a discounted price in preparation for next winter.

3. New Model Release Periods

Appliances typically have predictable release cycles, and understanding these can help you time your purchase for maximum savings:

• September and October: Many new appliance models are released in the fall. As retailers prepare for the new arrivals, they often significantly discount older models. This is an ideal time to buy refrigerators, ovens, and dishwashers.
• May: This is when new washers, dryers, and vacuums usually hit the market. Look for discounts on the previous year’s models as stores make room for the new arrivals.

4. Scratch-and-Dent Deals

Some retailers offer appliances with minor cosmetic blemishes like scratches or dents at deeply discounted prices.  These imperfections are often barely noticeable and won’t affect the appliance’s functionality.  If you can live with a slight imperfection, you can score significant savings by opting for a scratch-and-dent model.

5. Special Store Events and Clearance Sales

Beyond the predictable holiday and end-of-year sales, keep an eye out for special events and clearance sales:

• Anniversary Sales: Many stores have anniversary sales, which can be a great time to find discounts.
• Clearance Sales: Throughout the year, stores will have clearance sales to eliminate overstock or discontinued items. These can happen anytime, so watching local ads and online deals is good.

Tips for Maximizing Savings

These tips help you make intelligent and strategic decisions to build a secure financial future.

– Conquer Your Spending

1. Track it, then attack it: Awareness is the first step. Track your spending for a month – every penny counts! Categorize your expenses to identify areas where you can cut back. Budgeting apps and spreadsheets can be helpful aids.
2. Budgeting is your best friend. Create a realistic budget that allocates your income toward needs, wants, and—most importantly—savings. The 50/30/20 rule (50% needs, 30% wants, 20% savings) is a popular starting point.

– Become a Savvy Shopper

1. Price Matching Prowess: Many retailers offer price matching policies. Before making a purchase, research online or visit competitor stores. If you find a lower price, politely ask the retailer to match it.
2. Negotiation Ninja: Don’t underestimate the power of negotiation, especially for larger purchases like appliances. Salespeople often have some leeway in pricing. Do your research beforehand to know a fair price, and be polite but firm in your negotiation.
3. Embrace Rebates and Promotions: Manufacturers and retailers regularly offer rebates and promotions. Stay informed by checking store flyers, online ads, and manufacturer websites. Look for items with overlapping promotions for maximum savings.

– Think Long Term

1. Invest in Energy Efficiency: While energy-efficient appliances might have a higher upfront cost, they translate to significant savings on utility bills over time. Consider the long-term benefit when making major purchases.
2. Extended Warranties – A Calculated Choice: Extended warranties, often available for high-end appliances, can offer peace of mind and potential savings on future repairs. However, weigh the warranty cost against the likelihood of needing repairs and the typical lifespan of the appliance. If offered, consider including coverage under a home warranty plan.

– Home Warranties: Your Safety Net

Home warranties offer protection against unexpected breakdowns of essential appliances, including washing machines, refrigerators, and dryers. Here’s how a home warranty can complement your savings strategy:

• Peace of Mind, Reduced Stress: Knowing your home warranty can potentially cover repairs saves you the stress and financial burden of fixing a major appliance.
• Cost-Effective Repairs: Warranty plans often provide lower costs than out-of-pocket repairs.
• Qualified Technicians: Home warranty companies typically send licensed and insured technicians to ensure quality repairs, giving you peace of mind.

Remember

• Read the Fine Print: Carefully review the terms and conditions before purchasing an extended or home warranty plan. Understand what’s covered, service fees, deductibles, and the claims process.
• Prevention is Key: Regular maintenance of your appliances can extend their lifespan and prevent costly repairs.