A good rule of thumb is to repair if the cost for the repair is less than 50% of purchasing a new appliance.
Top Reasons To Repair
- The appliance is still under warranty
- The appliance still has a long enough life expectancy left to justify repairing
- The appliance repair cost is less than 50% of a new purchase
- The appliance has been reliable prior to the current issue
Top Reasons to Replace
- The appliance warranty is expired
- The appliance is older than the average life expectancy
- The appliance repair cost is greater than 50% of the cost of purchasing a new one
- The appliance has had other issues previously
- The unavailability of parts. As appliances age, the availability of replacement parts decreases, causing the cost of the parts to go up
- Improved energy efficiency-especially for appliance built more than 15 years ago, you could save hundreds per year on your energy bill by upgrading to a newer model