Based on my do-it-yourself repairs, I knew that replacement parts were expensive. For example, it's not uncommon for a part to cost 1/10 of an entire appliance, and that's before labor. However, today I learned of the worst cost yet, where the replacement part cost over two times the cost of just buying a new item. I thought I had misheard the price and asked four times to make sure. To my dismay, I had heard the correct price.
Basically, I was buying the charger for a small portable electric appliance since that was the only element missing. The entire appliance cost $40, including the charger. The cost of only the charger from the manufacturer? $82. That's right, over two times the cost of buying a new appliance.
I told them that was crazy and that I would check with a local electronics store for a replacement. After a little research, I found options for $15 - $20, which was reasonable. However, since I was convinced that I had recently seen the charger, I decided to search the house in areas I had been working. After about an hour, I found the charger, even though it wasn't near where the appliance was stored.
I definitely saved $15 and time searching and I saved as much as $40 to buy the entire appliance. I didn't save $82 because there was no way I was paying two time more just to buy the charger.
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This is not financial advice. Please consult a professional advisor.
Copyright © 2013 Achievement Catalyst, LLC
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