Repair or Replace - Is it Worth it?

Age of the Appliance : How old is it?

The age of an Appliance is a big factor when you have to make this decision.  If you have a 20 year old washer or refrigerator, there's a good chance the parts to repair it are no longer available.  Most of the time that makes replacing the machine an easy decision.  Age would not be the only factor to consider though. There are many machines out there I have told customers to have repaired that had some years behind them. If it needs a simple repair like a lid switch, of course, fix it. If your talking replacing a motor or some sort of control board or timer, that's where the gray area starts and you have to take all the factors into consideration, read on.

Cost Effective : Is it worth putting money into?

I think a good rule of thumb is in most cases, if the repair is going to cost more than half of what it would be to replace, consider replacing. Why put $300 into a washer, when you could replace yours with something equivalent for maybe $400 or so. Now on the other hand, if the machine was worth $1000, then that's another story.

Overall Physical Condition

This one here depends on your own personal preference.  If the appliance is not so nice in appearance and has been around for a while, some people look for reasons to replace it.  The would also include the simple repairs.  But if the way the machine looks isn't a factor (hiding in the basement) then that's not so much a factor in the topic at hand right now.  If your appliance is starting to rust and fall apart, that would be another story.  Dents, scratches and stains are usually not something to worry about when deciding.  Unless of course it bothers you that much and you can't live with it.  I think you get the best deals on Appliances when they have dents and scratches.