Laundromats are no match for rent-to-own washers and dryers, mathematically or otherwise
If the cash outlay or credit involved in purchasing a washer and dryer for your home has been holding you back (or holding you hostage at the Laundromat), then it is time to look at an option other than outright purchase. Rent-to-own washers and dryers make sense on many levels, both mathematically and from a lifestyle prospective.
First, let’s look at the cold hard math. If you rent-to-own a washer and dryer from ColorTyme, on average, it will run you $18.99 per week. Delivery and set up is always included in the cost. Next, there are the energy and water costs. The chart below comes from Michael Bluejay, Mr. Electricity’s Web site. According to his site, most of the energy cost in doing a load of laundry is in the heating of the water. So, as a helpful side note, if use cold for colors and warm wash with a cold rinse for your whites, you can save a ton of money (and your clothes will be just as clean).
Total cost per load (electricity + water + water heating)
Wash / Rinse setting Electric water heater Gas water heater
Hot / Warm 69¢ 52¢
Hot / Cold 50¢ 39¢
Warm / Warm 50¢ 39¢
Warm / Cold 32¢ 27¢
Cold / Cold 14¢ 14¢
If you use warm water with a cold rinse for half your loads and cold water for the other half, your average cost per load will be 23 cents. But, wait, you still need to dry the clothes. The average cost per load in an electric dryer is 30 to 45 cents per load. However, a gas clothes dryer is much less costly, averaging 10 to 16 cents per load. Let’s assume you like the math, have read this article, and will rent-to-own the gas dryer, with an average cost of $.13 per load. This brings your average water and energy cost per load to 36 cents per load.
There are varying sizes of washers and dryers at a Laundromat. However, the regular size Laundromat washer costs about $2 per load and the average dryer 75 cents per load. With the hard costs established, you can now do the math. For a family of four, averaging two loads per day, a Laundromat will cost $165 per month (60 loads per month at $2.75 per load). With a ColorTyme rent-to-own washer and dryer conveniently located in your home, the monthly cost for the machines, $87.99 ($18.99 plus $1.33 tax x 4.33 weeks per month), plus the energy and water costs, $21.60 (60 loads times 36 cents per load), would only come to about $110 per month.
We probably don’t need to go into the upgrade in lifestyle issues when comparing doing laundry in the comfort and safety of your own home versus schlepping heavy bags of laundry to and from a public Laundromat. Anyone who has done laundry in a Laundromat knows that many Laundromats are unclean and can be unsafe, not to mention boring. However, in addition to the hassle of lugging laundry back and forth, there are a few more items to consider that add to the costs and make Laundromats an even heavier load. Travel costs (gasoline or metro to and from), your time, and heaven forbid if you turn your head for minute — the cost of stolen clothes — can add up big time.
Now you have all the smart reasons to upgrade your life in 2010 from the Laundromat to spending time with your family, reading a good book on the couch or any number of wonderful tasks while you do laundry at home sweet home.
This entry was posted on Thursday, January 14th, 2010 at 11:00 am and is filed under Benefits of Rent To Own. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.