The Affordable Way To Buy A Fridge Without Financing

For most, the ideal fridge goes unnoticed — an appliance that simply keeps foods in a chilled state. So when the time comes to purchase a new model, selecting an upgrade can incite quite a financial headache. Even the most barebone refrigerator models cost hundreds of dollars, while a model with bells and whistles reaches well into several thousands. Of course, you could always turn to financing the appliance, stretching out payments over months or even years. However, the move can hurt your credit score, incur interest payments, and add another bill to constantly worry about. So instead, look into savvy alternatives and acquire a chiller on the cheap.

Start your search by looking for models of previous generations or consider grabbing a used fridge, which can come with hefty discounts. Buying refurbished is another great option; such models often go through in-house quality control, with low-key defects like a scratch or dent drastically lowering the bill. Add in deliberate seasonal shopping and clearance optimization, and you'll be sure to get the price down — perhaps even save on energy bills, too.

Fridges cover such a spectrum of pricing that navigating the balance of durability and frugality can be tricky. You'll need to decide whether features like water dispensers, adjustable temperature, and the touch screen are necessary. Even the fridge design makes a difference: The freezer on top, fridge on bottom models tend to be cheaper than French Doors, for example. If you're striving for the maximum cost effectiveness, you could even buy a fridge sans freezer. And take note that the larger the volume, the bigger the cost — think about your grocery shopping style.

With a general concept in mind, compare pricing across retailers. Look into fridges sold at home department stores as well as warehouse retailers. Avoid name brands to minimize marketing costs, but still look into reviews for optimal functionality. And don't forget for such high-ticket purchases, stores often employ price match policies. Some retailers may have a limited selection — a hidden downside of buying a refrigerator at Costco — but there could still be a gem.

Whether you buy a vintage style fridge for its aesthetics or a particularly cost-effective model, just make sure to look over its energy ratings. Not only is a good rating better for the environment, but old fridges can cause a surprising impact on your energy bill. Models missing the Energy Star Certification can use up to 35% more electricity, notes the U.S. Department of Energy. So a steeper initial investment will save you money down the line.

As with other appliances, fridges experience seasonal clearances. So unless you have an immediate malfunctioning model, it pays off to wait for sales. Generally, fridge companies refresh their offerings in May, making the late spring and early summer a great time to get last year's model. Furthermore, look out for steep clearances on dates like July 4, Prime Day, and Black Friday. Sign up for price tracking services, catching internet deals at the lowest price. With some flexibility, you can knock hundreds off of the MSRP.

Furthermore, keep a close eye on rebates — provided by both brands and state governments. Energy efficient fridges usually come with this easy-to-miss way of getting money back, making the Star rating worth the extra cost. Coupled with an old holiday gift card — whether it's at Amazon or Best Buy –  and you can further ease the budget.

Finally, don't forget about unexpected costs like delivery and installation. Once you've selected your model, you can save a few extra hundred dollars by arranging a friend with a truck, or opt for a store with included services. Dedicate an afternoon to inspecting the manual, and you can install the fridge yourself, without the need for a mechanic. Once acquired, avoid fridge mistakes to optimize the appliance's performance, and you can chill your groceries stress-free, knowing you optimized costs to the maximum.