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Getting that old broken appliance repaired

Your appliance has stopped working.  It is older, maybe 8-10 years old.  You debate whether it is worth it to repair the appliance or have it replaced.  Repairs could cost hundreds of dollars.  Buying a new unit could cost triple that amount.  If you repair it, will it keep breaking causing you to pour even more money into it?  These are the questions many face when their appliance breaks.

Here is a great solution to the problem:  Sears offers a 1 year warranty for broken appliances.  Yes that is not a mistake, they will sell you a warranty on an appliance that already needs repair.  The cost averages about $250.  For this $250 you are covered on repair charges up to $500 PER REPAIR VISIT.  And if they are unable to repair your appliance, they will give you $500 towards a new one.  Here is a link to the sears website with the phone number you can call to set this up.

One of our testers named Steve encountered this exact situation:

A 9 year old refrigerator stopped cooling.  Sears sold them this warranty for $250 (plus taxes).  Right after selling them the warranty, Sears setup a service call to have the refrigerator repaired.  

The technician came out and determined that it could possibly need more refrigerant.  So he filled it up, changed a seal, and the refrigerator started cooling again.  This visit cost $0 and was completely covered by the warranty.  Without the warranty it most likely would have cost about $200+ so it was already close to the cost of the warranty.

After 2 weeks, it stopped cooling again.  A call to Sears sent the technician back.  The service visit had no charge as it was covered by the warranty.  He determined that it is most likely the cooling/condenser unit.  This would need to be rebuilt and could cost about $800 in parts and labor to rebuild it all.  Since that is above the $500 limit, the charge would have been $300 which is the excess over the $500 limit.  Notice here that the cost of the first repair was not deducted as it is based on separate repairs. Since the repair is so costly the customer has the option to claim it as unrepairable which he did.  In that case, Sears does a little paperwork and gave the customer a $500 credit towards a new refrigerator.

In about 2 weeks Sears called Steve to inform him that the $500 credit was available and good for 90 days.  Steve waited for a good sale on a new unit and went into Sears.  In this instance, the online price for Sears own website was lower than the store price.  Steve went in to his local Sears and had them price-match their own website and then apply the $500 credit.  It was a very simple transaction.

The end result:  Steve paid $250 for 2 repairs vists and a $500 credit for a new unit.  Purchasing the warranty was definitely worth it.   Since a replacement was purchased, the balance of that 1-year warranty also transfers to the new unit.  A very smart idea to purchase the warranty!  If the first repair actually fixed the problem, Steve paid $250 for a $200 repair but also got a 1 year warranty with the purchase.  So in this case it was still worth the risk.

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