How To Get a Good Deal on a New Refrigerator

by Andrea Norris-McKnight

DIY Landscaping for Less photo

In need of a new fridge? Use these guidelines to get a good deal on a refrigerator that will not only save you money at the time of purchase, but that will also save you on maintenance and energy costs.

A refrigerator is one of the most expensive appliances you’ll buy for your home and consumes 20% of the electricity you use. So a good decision now could save a few dollars every month for years.

You want to choose a quality model because you’ll hopefully have it for a decade, if not longer, without spending a fortune. It’s essential to consider several factors when choosing a new refrigerator to make sure you pick one that best suits your needs and budget.

Before making a purchase, consider the following factors to narrow your choices. Then use the tips provided to get a good deal on a new refrigerator.

Factors for Choosing a New Refrigerator

Answering these questions can help you narrow your options:

How Much Can You Afford To Spend?

The first thing you should do is establish a budget for the amount you can spend on a new refrigerator. This will help you narrow your choices as you research your options.

What Size Will Fit Your Kitchen Space?

Measure the space where your new fridge will go, including the height, width and depth. Be careful to consider door clearance and other obstacles, such as cabinets or countertops.

Sign Up for Savings

Subscribe to get money-saving content by email that can help you stretch your dollars further.

Twice each week, you'll receive articles and tips that can help you free up and keep more of your hard-earned money, even on the tightest of budgets.

We respect your privacy. Unsubscribe at any time.

What Style Will Best Meet Your Needs?

Refrigerators come in various styles and configurations, including top-freezer, bottom-freezer, side-by-side, and French door models. Consider your personal preferences, storage needs and available space when selecting the type of refrigerator.

If you have no preference, consider a top-freezer refrigerator. These are generally more affordable than other models and are often more energy-efficient.

Also, think about the finish (stainless steel, black, white, etc.) and how it will match your kitchen décor.

What Capacity Do You Need?

Consider your family’s food storage needs when choosing a refrigerator’s capacity. Smaller homes or people who frequently eat out may need less storage space than larger families or people who often entertain.

Buying more fridge than you need will needlessly cost you in electricity.

What Features Do You Need?

Consider the many amenities offered, such as the ice maker, door bins, humidity-controlled drawers and adjustable shelves. Prioritize the must-have qualities, and avoid paying for features you won’t use. For instance, perhaps you don’t need a smart fridge that connects to your home Wi-Fi.

What Brands Should You Consider?

Research the various brands and models that interest you. Read user evaluations and professional perspectives to understand the different refrigerator models’ overall performance and dependability. This might assist you in identifying possible problems or worries before purchasing a new fridge.

During your research, you’ll want to check repair records. It’s hard to beat the information that Consumer Reports puts out. And you’ll find much of it free online.

Also, check out websites for major appliance retailers. Although you probably won’t buy online, you can get an excellent idea of pricing. For instance, lets you easily select and compare basic sizes, features and price information for any refrigerators they sell.

9 Tips To Get a Good Deal on a New Refrigerator

Once you’ve determined your price range and the brands, style and features you want, you can begin shopping. Use the following tips to get the best deal that you can:

1. Compare Prices

Shop around, both in-person and online, to see how much pricing may vary between stores. When comparing prices, account for any delivery and installation fees.

2. Look Beyond the Purchase Price

Don’t forget that the initial cost of the fridge is only part of what you’ll spend. Consider the operating costs, too, namely, energy efficiency. Choose a model with the ENERGY STAR® designation.

The yellow EnergyGuide labels are a great tool. The sticker will estimate how much each refrigerator will add to your electric bill per year. Remember that you’ll probably keep a fridge for 10 years or more. So a $25 difference between models is worth $250 over the appliance’s lifetime. (See Will New Energy-Efficient Appliances Save Money?)

Tips Food eBook Ad photo

3. Buy at the Right Time

Retailers often offer appliance discounts during major holiday sales events, such as Black Friday, Labor Day or Presidents’ Day.

According to U.S. News, stores typically get the following year’s models in stock from September to December, and the current year’s models may get discounted to clear inventory. Opt for a discontinued or previous year’s model for significant savings.

Of course, with something like a refrigerator, the best time to buy is when your old one is still working. That way, you won’t be facing the cost of spoiled food, and you’ll have time to price shop.

4.  Consider Scratch and Dent Models

Retailers may offer discounts on refrigerators with cosmetic imperfections, such as scratches or dents. These imperfections generally do not affect the appliance’s functionality.

You may not want a fridge with damage to the face of the door, but any damage to the sides of the refrigerator may not even be seen, depending on your kitchen layout.

5. Look for Rebates and Incentives

Check for available rebates or incentives from manufacturers, local utility companies or government agencies. These can help offset the cost of your new refrigerator.

6. Negotiate

Don’t be afraid to negotiate the price, especially if you’re buying multiple appliances or the retailer is trying to sell floor models or older inventory. (See 5 Tips to Negotiate a Better Deal On Anything.)

After negotiating the price, ask for free delivery if it isn’t part of the deal. If you haven’t hit their rock bottom price yet, they’ll probably throw it in to complete the deal, especially if you show a willingness to delay the purchase.

7. Ask About Price-Matching

Most stores will match lower prices, including those found on the web. Simply ask the salesperson if they do. Even if their price is the lowest, it doesn’t hurt to ask if the listed price is their best.

8. Verify the Warranty

A solid warranty can preserve your investment and provide you peace of mind. Choose a model whose warranty offers the most protection for your requirements by comparing those of other models.

Also, avoid extended warranties. Extended warranties can be costly and often unnecessary if you choose a refrigerator with a manufacturer’s warranty. In fact, Consumer Reports advises most of us to “steer clear of extended warranties.”

9. Trade-in or Recycle

Some retailers offer trade-in programs for your old refrigerator or provide recycling incentives. This can save you money on disposal fees and may even provide a discount on your new fridge.

Protect Your Investment

Unless your old fridge has died, take your time shopping for a new one. It’s a long-term investment you want to get right.

Remember, saving money on a refrigerator doesn’t mean sacrificing quality. By carefully researching and waiting for the right opportunity, you can find a great deal on a fridge that meets your needs and budget.

Once you find the right fridge, properly maintain it to reduce repair costs and avoid premature replacement. Proper maintenance can also help sustain its energy efficiency.

Reviewed April 2023

Pin It on Pinterest

Share This