Should I fix a broken appliance or buy a new one?
Repair if the fix costs less than about half a comparable new unit and the appliance isn't near the end of its typical lifespan — otherwise replacing is usually the better value.
beginner
A useful rule of thumb weighs the repair cost against the appliance's age and a new unit's price. Cheap fixes on relatively young appliances are worth it; costly fixes on old ones rarely are.
What it is
Verdict: Fix it when the repair is cheap relative to replacement and the appliance still has years left in it. Replace it when the repair approaches half the cost of a new one, or when the appliance is already near the end of its expected lifespan.
It depends on: the repair quote; the appliance's age against its typical lifespan; energy efficiency (an old, thirsty appliance may cost more to run); and whether this is the first fault or one of several.
How to decide: (1) Get the repair quoted. (2) Compare it to the price of a comparable new unit — the common guideline is to replace if the fix exceeds about half that. (3) Weigh the appliance's age; if it's past most of its expected life, lean toward replacing. (4) Factor running costs — a much more efficient new model can pay back part of its price over time. (5) For anything involving gas, water or electrical safety, use a qualified professional.
Pitfalls: repeatedly repairing an old appliance that keeps failing in new ways; and scrapping a nearly-new one over a cheap, common fault. Also weigh the safety and warranty of DIY repairs.
Worked example
A three-year-old washing machine needing an inexpensive pump replacement is worth repairing. A twelve-year-old one needing a repair that's more than half a new machine's price, with rising running costs, is better replaced.
Failure mode — when it misleads
The trap is sinking repeated small repair bills into an appliance well past its expected lifespan — each fix feels cheaper than replacement until the total exceeds a new unit.
How to apply it
Ask: (1) Is the repair under half a new unit's price? (2) Is the appliance still within its typical lifespan? (3) Is it far more efficient new? Cheap fix on a younger unit, repair. Costly fix on an old one, replace.
Related entries
Related
- Is it worth buying an extended warranty? Answer Usually no — for most electronics and appliances the price is high relative to the odds and cost of failure, so skip it unless the item is genuinely fragile or expensive to repair.
- When should I replace my laptop instead of repairing it? Answer Replace it when a repair costs more than about half the price of a comparable new machine, or when it can no longer run the software you rely on — otherwise a cheap upgrade often buys years.