http://blog.lendingclub.com/2009/05/18/frugal-habits-complicate-the-repair-versus-replace-debate/ The Official Lending Club blog Sun, 29 Jan 2012 13:31:47 +0000 hourly 1 http://blog.lendingclub.com/2009/05/18/frugal-habits-complicate-the-repair-versus-replace-debate/#comment-1369 Bob Smith Thu, 28 May 2009 22:37:38 +0000 http://blog.lendingclub.com/?p=1124#comment-1369 One other consideration is the efficiency of the new item vs. the old item. For example, if your fridge or washer are more than 5 years old it's probably worth replacing them for the cost in electricity. One other consideration is the efficiency of the new item vs. the
old item. For example, if your fridge or washer are more than 5
years old it's probably worth replacing them for the cost in
electricity.

]]> http://blog.lendingclub.com/2009/05/18/frugal-habits-complicate-the-repair-versus-replace-debate/#comment-1368 David Cuthbert Sun, 24 May 2009 06:15:58 +0000 http://blog.lendingclub.com/?p=1124#comment-1368 Usually, when the repair option is found to be too expensive, it's due to labor. My washing machine (aging model, out of warranty, a leftover from when we bought the house) recently died, and I was looking at $100-$200 to have it repaired. Financially, I can easily afford this. However, giving up so easily offended my engineering sensibilities. So I decided to give it the old college try. A few hours later, I discovered the errant sock which had jammed and damaged the drain pump. A quick web search and $30 later, and I had a working washer again. Even better, I learned a lot about the innards of a washing machine. Personally, I think we, as a nation, need to learn more about how things work and take less for granted, but that's probably a soapbox for another time. That said, this strategy has backfired on me occasionally. The first time I had to replace the brakes on my car, I also gave it the DIY try. The front disc brakes were easy. A day later, though, and the rear drum brakes still didn't fit right, and I still seemed to have parts left over. Finally realizing I was out of my depth and risking safety, I swallowed my pride and shelled out $300 for the tow and repair shop work to fix the horrible mess I had made. Most expensive DIY job ever. Usually, when the repair option is found to be too expensive, it's
due to labor. My washing machine (aging model, out of warranty, a
leftover from when we bought the house) recently died, and I was
looking at $100-$200 to have it repaired. Financially, I can easily
afford this. However, giving up so easily offended my engineering
sensibilities. So I decided to give it the old college try. A few
hours later, I discovered the errant sock which had jammed and
damaged the drain pump. A quick web search and $30 later, and I had
a working washer again. Even better, I learned a lot about the
innards of a washing machine. Personally, I think we, as a nation,
need to learn more about how things work and take less for granted,
but that's probably a soapbox for another time. That said, this
strategy has backfired on me occasionally. The first time I had to
replace the brakes on my car, I also gave it the DIY try. The front
disc brakes were easy. A day later, though, and the rear drum
brakes still didn't fit right, and I still seemed to have parts
left over. Finally realizing I was out of my depth and risking
safety, I swallowed my pride and shelled out $300 for the tow and
repair shop work to fix the horrible mess I had made. Most
expensive DIY job ever.

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