There’s always the question of which is the more plausible route to take when your electrical appliance has gone kaput and it’s no longer covered by the warranty. Some tightwads think that repairing is the better route to take since it’s always less than getting a brand new one. However this may not be the case.

The rule of thumb with regard to this issue is if the cost of repair is more than 1/3 of the original price, just opt for investing on a new one. Unless of course, it’s a really expensive piece of hardware that buying a new one would throw your budget horribly off for the next months.

The advantages of buying new are 1) you get a fully-functional appliance, 2) you get a warranty for a good period of time and 3) new ones usually pack better features. Besides, you might even be able to take advantage of 0% interest installment plans. But before you finally decide on which option to choose be sure to 1) have the appliance checked first (many repair shops do this for free) and 2) you’ve scoped out the current market prices of new ones.