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.
