4 Ways Short-Term Loans for AppliancesWill Help Save Money

The cost of a new appliance may seem like a lot, but planning out your expenses and budgeting will help lead to major savings in the future. When an appliance goes on sale or you find a great bargain, consider a short-term loan to help upgrade your appliances.

The loan may cost you hundreds now, but there are multiple ways the purchases will help you save money in the future. Learn about the benefits of using a loan to upgrade your appliance and how to save the most money with the purchase.

1. Energy-Efficient Appliances

One of the biggest advantages with a new appliance purchase is the energy savings associated with the appliance. Newer appliances have better energy efficiency ratings and use advanced technology to reduce the amount of electricity used. The energy efficiency of an appliance is especially important for appliances that need to run all day like a refrigerator or freezer.

If the upgrade of an appliance only makes a five dollar monthly difference on your electric bill, the savings will add up to $60 each year. In just a couple of years, you will have saved hundreds of dollars from the upgrade. If you choose to upgrade multiple appliances at the same time, then the savings will add up even bigger and help offset any loan interest costs.

2. Water-Based Appliances

As you shop for new appliances, consider water-based appliances like a dishwasher or clothes washer. If you pay for water access, old appliances could use a lot more water than necessary to clean clothes or dishes.

Modern dishwashers and washers will dramatically reduce the amount of water use. Some studies have shown that newer dishwashers will use even less water than hand washing dishes. You will notice less use on your monthly water payments and add up the savings through the whole lifespan of the new appliances.

Even if your home has well water, the reduced water use will use less energy from a water pump or water heater. Much like the energy-efficient savings from power, your oil and electric bill will likely benefit from far less water use.

3. Package Deals

While you may have the budget to afford a single appliance, many retailers offer package deals on groups of appliances. Opting for the package deal will help save you hundreds of dollars, and a small loan could help you pay for the deal. If you spread out your purchases and buy each appliance individually, you could spend a lot more than with the combined offer.

Not only will a package deal give you possible savings, but you can look for other promotions including mail-in rebates, free delivery, and free installation. The reduction of the service costs can make a major difference on the final amount you pay for the appliances.

As you shop around, seek out the bargains and then obtain a small cash loan to help make the purchase when the right sale arrives.

4. Extended Warranty Packages

With a limited budget, you could opt out for a number of extras associated with an appliance purchase. A small loan will give you financial options to add extras on your purchase like an extended warranty package. Many of the packages will cover all damages for years into the future.

Without the warranty package, you could end up paying for repairs or having to purchase a whole new appliance when a problem occurs. Some warranties will include full replacement appliances, saving you hundreds of dollars in the long run. A small loan makes the warranty package accessible and offers protection for years.

Contact us at Central Finance to get started on your small loan application process. We will help you get the cash you need to upgrade the appliances in your home and save a lot of money in the future.