Cost efficiency in fixing versus replacing a faulty refrigerator
In the kitchen, a malfunctioning fridge can cause quite a stir. But before you toss it out and buy a new one, it's worth considering whether a repair is a more cost-effective option. Here's a helpful guide to help you decide.
Firstly, get in touch with your local council to enquire about pick-up or recycling services for white goods. If your fridge is beyond repair, they can ensure it's disposed of correctly to avoid leaking harmful refrigerants.
If your fridge is experiencing issues such as feeling warm inside, being very hot to the touch, food spoiling quickly, seals have deteriorated, it's making loud noises, or there's a huge jump in energy bills, it may be time for a repair or replacement.
Repair costs typically range from about $150 to $600, depending on the issue and parts involved. As a rule of thumb, if the repair cost is less than half the price of a new fridge, repairing is usually economical, especially if the fridge is relatively new and energy-efficient.
Check if your fridge is still under warranty. Australian Consumer Law implies consumer rights to remedies if the product fails within a reasonable period after purchase, even if the warranty has expired. If a fridge model has been recalled, you may be entitled to a free repair or replacement, regardless of how old it is.
Assess whether the problem can be handled by a DIY repair (e.g., thermostat or seal replacement) to save labour costs, or if you need to hire a professional appliance repair service, which adds labour fees.
Consider the age and efficiency of the fridge. Older fridges may be less energy efficient, making replacement a better investment despite repair costs. Consumer experiences suggest some manufacturers might not assist once the warranty expires, so factor in possible out-of-pocket costs if manufacturer assistance is unlikely.
If the cost estimate to fix a fridge's issue is more than $300-500, it may be time to consider buying a new one. If the fridge is more than six years old and suffers a major fault (such as compressor failure), it may be cheaper to replace it.
To determine if a fridge is cheaper to repair or replace, gather information about the problem, get at least three quotes, and compare and assess the quotes. Remember, the typical manufacturer's warranty for a new fridge is two years, but it may vary.
For expert reviews and independent product testing, CHOICE offers valuable insights. They fund their operations through members who value their services. Some retailers also offer take-back schemes when you buy a new fridge from them. Start your research for a new fridge at CHOICE's buying guide.
Lastly, it's illegal to leave an old fridge on the curb or dump it elsewhere. Always dispose of your old fridge responsibly to protect the environment and comply with local regulations.
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