When is the best time to replace your refrigerator?

Every experienced homeowner knows the sinking dread that comes with a large appliance that is on its last legs. The high cost of buying a new appliance can impact even the most robust budget, and refrigerators in particular can be expensive. If your refrigerator has already stopped working, there is little you can do to get a better deal – as Benjamin Franklin famously said, "Necessity never made a good bargain."

Homeowners who know how old their refrigerator is, however, can plan ahead to get the best deal. While buying a new refrigerator before your old one stops working does lose you some appliance lifetime, the energy savings that you experience by replacing an old, inefficient refrigerator with a new one can help to mitigate this cost.

According to Money Crashers, new refrigerators come out in the beginning of May. This means that last year's models will be discounted for a short time before shoppers snatch them up – so homeowners with old refrigerators should mark their calendars!

Daily Finance recommended that homeowners looking to save a little more money should try to haggle at the store. While not every retailer will wheel and deal, many are surprisingly willing to negotiate in order to make a sale. Even if your retailer won't reduce the price, you can still fight for extras, like free delivery and installation.

The information in this article is intended to provide guidance on the proper maintenance and care of systems and appliances in the home. Not all of the topics mentioned are covered by our home warranty or maintenance plans. Please review your home warranty contract carefully to understand your coverage.