Electricals
With the fast pace of modern life few of us would be lost without our household electrical items, especially the washing machine and fridge freezer. A few tips for getting best value for money:
- What do you need? What features do really need and know you would use?
- Shop around. Checkout what offers are available.
- Beware Hire Purchase! Paying £6 per week to Brighthouse or Perfect Home might sound like a convenient offer, but be aware that it can take 3 years to pay off so total cost can be 3 times the cost of the item. Plus, you don’t own the item; if you miss payments they could take it away and you’re left with nothing.
- Discounts? Many electrical retailers are keen to get your business, so look out for discounts and special offers.
- Price comparison. One phone call to them asking to cancel is usually enough to be offered a cheaper deal. Freeview may be all you need; cancel Sky/ Virginmedia and see how long before anyone in your household notices.
- Timing is everything. Christmas time sales can be a great time to grab a bargain.
- Don’t wait till it breaks. Life without a washing machine or fridge freezer can be tricky, so do your research before you need to replace your electrical items or you get caught out trying to find one in a hurry.
- Repair can be cheaper. Simple things such as an oven element, fridge thermostat or washing machine door hinge can be easily replaced, and much cheaper and less hassle than a new machine.
- Replace can be cheaper than repair. However if it really is broken then it may not be worth paying repair costs, it could be cheaper to just buy a new appliance.
- Second-hand – Freecycle, BargainPages, Loot, Gumtree, eBay – it is never a good idea to buy electrical items secondhand with their unknown history, so unless you really know what you’re doing, best avoided.
- Value not cheap. a top brand with features you know you’ll use can be better value than a cheaper brand which doesn’t last or work as well.
- Warranties. A 5 year warranty included in the price can be worth having.
At Advance CU we want to give our members good value and best choices. That is why we have teamed up with Borshch Electrical to offer our members some of the best prices on white goods and other household electrical items. Their new flagship store in Erdington is directly opposite our office they offer a vast range of washing machines, fridge freezers, ovens, microwaves and more. Some appliances are graded, so may have a dent on the side which means they can be even better value.
An alternative ethical supplier is Fair for You, offer a wide range of electrical items, furniture and other household items at affordable prices.
Compare the cost of a typical washing machine purchased from Borshch with a credit union loan against Fair for You, a high street retailer and hire-purchase retailers:
Indesit IWSC61251 washing machine
| Supplier | Total | Interest rate | weekly repayments | Number of weeks | Total Payable |
| Borshch Electrical | £250 | 42.68% | £7.18 | 40 | £287.20 |
| Fair for You | £268.98 | 42.68% | £6.18 | 52 | £321.19 |
| Currys | £328.00 | 42.68% | £9.42 | 40 | £376.80 |
| Perfect Home | £441.99 | 59.90% | £5.25 | 156 | £819.00 |
| Brighthouse | £487.68 | 64.7 % | £6.00 | 156 | £936.00 |
How Advance Credit Union can help
Credit union loan could help manage your money. Many of our members use their credit union loan to spread the cost while building up their savings.
Start saving – whatever your plans, saving regularly with AdvanceCU is a great way to put some money aside for your future.
Engage Account offers great cashback rewards and discounts at Asda, Argos, B&Q, Marks & Spencer, Wyevale Garden Centres and many more. Plus your Engage Visa card is accepted wherever you see the Visa logo (see terms and conditions)