How to Benefit from the Cash for Appliances Program

Remember the Cash for Clunkers program the government rolled out recently? Well, for those of us who weren't about to trade in "Ole Nell" just because she's coming up on 100,000 miles, there's another chance to get cash for trading in old stuff. The Cash for Refrigerators or Cash for Appliances program is the newest government incentive program.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• An appliance in bad condition.
• Enough money to pay for most of a replacement appliance.

1. Look at your current appliances. Do they have plenty of life left? Are they already energy efficient? If so, you may want to think twice about trying to qualify for the Cash for Appliances program.

2. Review your budget. While there are government stimulus rebates for appliance purchases coming this fall, the amount will only be between $50 and $200. You'll need to be able to afford the difference.

3. Shop around for new appliance sales. You want to be able to pair the stimulus allowance with a good sale to get the maximum savings on your purchase.

4. Make sure you purchase a qualifying appliance. Before you swipe your credit card, take a close look at the appliance to be sure it has the Energy Star seal. If you get one without the seal, you won't get the rebate.

5. Ask about your state's rebate policy. In its state information overview, The U.S. Department of Energy has suggested options like mail in rebate forms or instant rebates, but your state may have decided on something different.

6. Complete all paperwork. If you have to mail a form in, fill it out right away and make copies of all the forms and receipts. Then stick the originals in and envelope and send it on its way.

Tips & Warnings

• You don't have to actually trade your old appliances in under the Cash for Refrigerators program. According to Business Week's Latest in Stimulus article, it is more of a rebate program than a true trade in. That means that a working, but older Energy Star rated appliance can be passed on to someone who can't afford to buy a new one even after the Cash for Appliances rebate.
• If you want to get rid of your old appliance, check to see if your state has set up a recycling program as part of the Cash for Refrigerators Program.

Resources

• Business Week article on the Stimulus Program
• Department of Energy Requirements for State Participation