6 Smart Ways to Upgrade Your Home Appliances This Diwali - MoneyTap Blog
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6 Smart Ways to Upgrade Your Home Appliances This Diwali

Diwali is upon us! The excitement is gaining momentum as the days go by. And why not? It is the time of the year when you plan to give your home a makeover. Invariably the kitchen is the first place you want to start. And why not? The kitchen is the heart of the home; it’s the place where you spend a considerable amount of time making most of your memories. It has to be well-equipped.

As Diwali is just around the corner, it is the right time to open your wallets to upgrade your home appliances. But there are a few things you need to consider while making purchases.

  1. Always compare prices

The price of the same appliance can vary from one retailer to another. If it is the oven you want to buy, don’t set your mind on the first oven you see. Research on the same model elsewhere. Try looking for it online and also at other competitor retail shops. Compare the price and then settle for the best deal.

  1. Shop when the time is right

Festivals present a great opportunity to make purchases at great discounts. Festival time is a good time to scavenge for bargains in kitchen appliances as retailers offer reduced prices to attract more customers. Month-end can be a good time too. Many store managers reduce the prices of their products so that they can clear inventory and meet the sales target of the month.

  1. Negotiate the price

You’ll be surprised to know that the MRP you see on a product at a retailer is not the final price. MRP itself suggests that it’s the “Maximum Retail Price” and it can go lower. It’s open for negotiation, all you have to do is ask. It’s worth a try. Maybe you’ll get lucky!

  1. Imperfect can be perfect for you

Sometimes during transit, some appliances can get damaged, either a dent or scratch, but the internal working of the appliances is absolutely fine. To clear the damaged appliances, almost all retailers offer them at reduced prices, which can be as low as 50% of the original price. If these flaws can be easily hidden once installed and if they come with a manufacturer’s warranty, you can consider going for it. But before you make the purchase, ask the store representative to plug in to check whether the appliance is working fine.

  1. Make use of exchange offers

Kitchen appliances of yesteryear are made to last. And that’s what they do. They last for so long that you don’t want to look at them anymore. If your old appliances are working fine, you can exchange them for new appliances. Many retail stores, as well as e-commerce sites, have tempting exchange offers. You can also sell your old appliances to used-appliance dealers. They’ll buy the product from you, overhaul it and sell it further.

  1. Use a personal line of credit for all your purchases

For purchases of your home appliances, where you would normally use a credit card, or take a consumer durable loan, use a personal line of credit instead. A personal line of credit has a lower interest rate and carry flexible repayment options, and that makes it a more affordable option. You have 24/7 access to credit and you can make your purchases at anytime from anywhere. It’s like having a more affordable credit card or a home appliance loan at your disposal.

If you’re considering a personal line of credit to finance your kitchen makeover project, get it from MoneyTap. Download the app now!

MoneyTap

India’s first app-based credit line, MoneyTap is a Bangalore based business that lends money with flexible interest rates, making credit quick and easy.

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