And, if all else fails, you can usually sell your old frig, working or not, for scrap. If your working refrigerator is less than 10 years old and in really good condition you can possibly get a few hundred dollars for it, especially from a private party. At the very least you may be able to snag $25 to $50 as a rebate.
For an old refrigerator, you can expect to earn around $15 to $30 at a scrap yard.
Let's say you have a 5-year-old GE refrigerator that originally cost $750. Depreciation per year: $750 / 15 years (expected lifespan) = $50 Life left: 15 - 5 = 10 years Value: 10 years x $50 = $500 If the refrigerator is in excellent condition and there's high demand in your area, you might price it around $500.
You can determine a fair price for a used appliance by following a three-step formula: Initial purchase price / estimated life cycle of the appliance = Depreciation per year. Life cycle of appliance – Age of appliance = Life left in life cycle. Life left in life cycle X Depreciation per year = Fair price.
Local utilities and energy-efficiency organizations support a growing number of refrigerator and freezer recycling programs. Some programs offer cash to recycle your old fridge; others offer utility bill credits.
Sell It to a Scrapyard
Another option is to sell your old refrigerator to a scrapyard to make some money back on the appliance. To sell a refrigerator for scrap, you first need to have the refrigerant removed and the lines capped by a licensed repair company.
Water heaters and other appliances that use plumbing for operation are especially worthy of collecting for scrap metal purposes. These types of appliances tend to feature valuable components that are in high demand, such as copper pipes and copper wiring.
While your old refrigerator may still look good and work well, if it is more than 15 years old, it's more than likely using a significant amount of energy -- in fact, more than twice the energy of a new ENERGY STAR certified model.
Price Ranges
You can find refrigerators starting from as low as Rs. 14,990 for a basic single door model up to Rs. 1,00,000 for large French door and side-by-side refrigerators.
Your selling for cash options range from yard sales to online selling sites to second-hand appliance shops. In addition, a number of states and municipalities offer rebate programs for old refrigerators as do many power and utility companies.
According to the 23rd annual portrait of the U.S. appliance industry, standard refrigerators usually last anywhere from 10 to 18 years, with an average life expectancy of 14 years. Compact refrigerator lifespan is even shorter, ranging from 4 to 12 years with an average life expectancy of 8 years.
Age of the Fridge: If your fridge is over ten years old, has major problems, or is just past its refrigerator lifespan, then it might be time to upgrade it.
The amount of copper a compressor contains varies from size to size. The compressor of a small refrigerator contains around one pound of copper, whereas a large refrigerator compressor contains about 2.5 pounds of copper.
You can spend anywhere from as low as $75 to $750 and beyond; it all depends on what you're looking for. A ten-year-old beige fridge will definitely cost a fraction of what a one-year old stainless steel model will set you back.
Contact your council, or charities or social enterprises in the area to see if they provide a collection service. If you're buying a fridge or freezer, the retailer should take your old one away. Find your nearest drop-off or collection point for electricals by entering your postcode in our recycling locator.
Estimates range in terms of how long fridges last; some sources say 10 years while others say as long as 25 years. According to the United States Department of Energy, refrigerators last approximately 12 years. At that point, it's likely time to replace it.
The Compressor: The Heart of the Fridge
The compressor is responsible for circulating refrigerant to cool the refrigerator. It's not a part that fails very often or breaks down frequently, but when they do, it can add up to a hefty price or sometimes even cause a replacement.
The lifespan of a typical fridge ranges from 10-15 years, and if you are still within the first half of this range, you should have plenty of time before needing to replace it. If it is on the upper end of that range, it's likely on its last legs.
Selling your old refrigerator for scrap can be a great way to make some extra cash and recycle valuable materials.
Copper is among the most valuable metals for most scrappers. Pound for pound, it is worth more than most other common metals and is the king of non-ferrous metals. Not all copper products are worth the same, though, and the price of copper can change dramatically over time compared to other metals.
Your lightly used, but very workable appliances, still have a lot of value. One option is that they can be sold outright. Used, but working, appliances are usually very much in demand and you could first try selling them in a garage or yard sale.
When you find yourself with a washer, a dryer, or maybe a mini-fridge that you no longer want, you may wonder if you can sell old appliances? The answer, of course, is a resounding “Yes!”