Advice please: 6 mo. versus 12 mos. payment plan

amother

Forestgreen

Mon, Oct 09 2017, 10:58 pm

A big thank you to all of you who offered feedback re washer/dryers. Your feedback helped supplement whatever info I was able to gather irl.
I settled on a washer/dryer and I need advice:
Total on the washer/dryer/tax/delivery/installation/haul-away is $1750
I can have 6 mos. to pay it off, interest free. Six monthly payments would be approx.$ 255 each.
My jaw dropped when I heard the price and the monthly payment amount. It's high for me. Single mom. Incredibly tight with money. No child support either.
So I broke down crying in the store because I was overwhelmed by this new financial burden.
The guy said, ''I can make a deal with you. You said you don't want the insurance. However, if you take the insurance for additional $200 (5-year warranty on labor and parts) I will extend your time to pay for 12 months, and your installment plan per month will be $145.''

I told him 145 is still a LOT for me, and could he do better. No, he can't.

So- I'm trying to decide bet. monthly payments of $255 for six months, or monthly payments of $145 for twelve months.

Suggestions? Rationale?
Thank you very much!

amother

Bisque

Mon, Oct 09 2017, 11:24 pm

Call town appliance in lakewood if you are near the tri state area. I am pretty sure I got a stackable whirlpool for cheaper then that..( with rebates) maybe you can get a better price to alleviate your financial burden...much hatzlacha!

amother

Fuchsia

Mon, Oct 09 2017, 11:44 pm

amother wrote:

Are you the amother who asked about Consumer Reports? They also have a whole lot of opinions about the insurance/extended warrantee (they don't think you should take it, and most appliances have their own warrantee for xx months). You can read more about how they come to these decisions at Consumerist.com.

Mommyg8

Mon, Oct 09 2017, 11:47 pm

That sounds like way too much! I wrote about the washer that I love - and it was only about $700, with rebates. You don't need a top of the line dryer, so you can save on that.

I second amother bisque - call Town Appliance, they have great deals, and they are really honest! I was about to buy a dryer along with my washer, and they said to me - why would you do that? If you're dryer still works? Of course, they don't match, but there are worse things in life...

amother

Forestgreen

Mon, Oct 09 2017, 11:53 pm

Town appliances is closed til next week. Delivery wouldn't happen til mid week at least. I have 2 sn kids and the stress of no washer is tipping one over the edge :-(
I just want to figure out if it makes more sense to do 6 months at 255 per month, or 12 months at 145 per month.

Mommyg8

Mon, Oct 09 2017, 11:58 pm

amother wrote:

Well, you end up paying more money if you spread it out, but otoh, it's less money per month. I would go with less money per month.

amother

Brunette

Tue, Oct 10 2017, 12:32 am

I would take the smaller monthly payment, because at least you get some benefit from the insurance.

Of course the best would be if you could get it cheaper altogether...

If you can share your zipcode and the model you are looking at someone may be able to find you a better deal that can install within the week.

nicole81

Tue, Oct 10 2017, 7:36 am

amother wrote:

Thanks for the offer :-)
It's a Whirlpool model wgt4027ew
Zip 11236

So you're in Brooklyn... Please call Marine Park Appliances. I usually speak to Yitz and his price hands down beats anything I've seen or heard anywhere else for 2 different appliance purchases.

amother

Forestgreen

Tue, Oct 10 2017, 7:51 am

nicole81 wrote:

So you're in Brooklyn... Please call Marine Park Appliances. I usually speak to Yitz and his price hands down beats anything I've seen or heard anywhere else for 2 different appliance purchases.

The store will reopen Monday 10/16

Meantime my sn kid is teetering at the edge. The cost of the machine would be in place of the cost of therapy for my sn child (teen). Having to go second days with unclean clothes is too much for her fragile nerves.
If I get it at pc Richard they can deliver tomorrow morn, she can wash her clothes, and be at peace second days. Otherwise we will all suffer :-(

nicole81

Tue, Oct 10 2017, 8:06 am

Sorry

I would personally stretch to do the 6-months and breathe a huge sigh of relief when it's over, rather than pay over a year. However, a 5-year warranty gives you peace of mind and as it's interest free, it's a decent option if the 6 month one leaves you with no breathing room.

I'd say to research whatever you can on the warranty (is it through pcr themselves?) because I've heard shady things about extended warranties in general. If it seems legit, you don't have the money for the 6-month payments, and if buying a new appliance in the next 5 years would sink you, then go for it. But if it's questionable at all, and if the 6-month payments are hard but you can do it without fully depleting emergency funds, I'd say pay over six.

petiteruchy

Tue, Oct 10 2017, 8:07 am

Honestly you should take your dd to a laundromat and let her wash there, while you search for a better price. If you're very tight for money, then $5 on laundromat charges is worth having the extra time to find a price that works for your budget.

nicole81

Tue, Oct 10 2017, 8:12 am

petiteruchy wrote:

I would generally recommend this but I'm assuming, as a single mother, there's good reason this is too difficult to accomplish at the moment. When I was a single mom, I would have paid a premium for next day delivery and at-home convenience.

amother

Forestgreen

Tue, Oct 10 2017, 9:06 am

nicole81 wrote:

Thanks for understanding. There are good reasons a laundromat wouldn't work for her. Neither would it work for me. I'd rather not go into the details. Lots of extenuating factors here :-(

ra_mom

Tue, Oct 10 2017, 10:14 am

If you think you can manage the $145 payments for a full year, I'd go with that. Extended warranties for such household appliances are so important. BUT. It depends on the warranty company. Some are worthwhile and really help you out when you have an issue (and issues will come up, that's a for sure). And some are just stealers. Please find out what the name of the warranty company is and post it here. We will let you know if we have had experience with that company.