Cash for Appliances: Should You Ditch the Old Fridge?

Sept. 14, 2009 — -- Maybe you've heard about the Cash for Appliances program, a spinoff of the government's Cash for Clunkers program in which the government will give you a rebate if you trade in your old, inefficient household appliance for new Energy Star rated ones.

But how do you know if your old fridge, dishwasher or dryer has really reached the end of its useful life? After all, another way to be green is to use products as long as possible rather than scrapping them prematurely.

Whether to fix it or replace it is a tough call.

The first step is to check your warranty. Many household appliances have long-term manufacturer's warranties. Next, get an estimate. If the cost to repair your old appliance is 50 percent or more of the price to replace it, you should scrap it. If the repair cost is 50 percent or less, ask yourself some questions.

What kind of shape is the appliance in? If it's already been fixed several times, it may not be worth another overhaul. Do newer models offer vastly improved features? For example, new refrigerators use less energy than old ones. You may be able to recoup part of the cost of replacement that way.

Consider whether the appliance is unique. If it fits into an odd space or it's an unusual color, it may be too expensive and difficult to replace.

Finally, figure out how old the appliance is. Over the years, experts have figured out the average life of most household appliances. Here they are: