Personal Finance
$400 to change a lightbulb? Appliance repair costs are no joke
Author Stephanie Dhue’s difficult-to-repair microwave.
Courtesy Stephanie Dhue
I bought a General Electric microwave oven in 2020 for $355. Recently, I noticed the interior light was out.
I told my husband, since he’s the one who takes care of repairs in our house. He took a look, only to learn that this wasn’t going to be an easy fix. The lightbulb is built into the unit so that it requires taking the microwave apart to change, and a technician is recommended.
It sounds like the setup to a lightbulb joke: How much does it cost to change a microwave bulb?
The answer, however, wasn’t funny. When my husband and I started gathering estimates, we learned that the labor costs involved could be up to $400, maybe more — and that didn’t include the cost of the lightbulb.
While my lightbulb situation may be somewhat unique, experts say it is not uncommon to learn the cost of repairs is more than the cost to replace an appliance.
Gay Gordon-Byrne had a similar experience with a microwave she purchased to match a stove. The microwave touchpad stopped working.
She figured out how to do the repair herself, but said the manufacturer tried to charge her $600 for the replacement part. Instead, she bought a new microwave for $175.
“I tell the story all the time because it’s so emblematic of what’s wrong with appliances these days,” said Gordon-Byrne, who is the executive director of Repair.org, which advocates for the legal right of owners to repair their own devices.
Figuring out the cost for a repair
My first call to repair our microwave was to the appliance store where I made the purchase. The service center told me there would be $140 charge to come out, and they couldn’t guarantee that the technician would have a lightbulb on the truck. The service representative suggested I simply purchase a new microwave or shop around for other repair options.
Next, I went to the GE site and filled out a form for service. I learned that the charge for a technician to come would be $125.
One of the the main reasons why it’s so difficult to fix things is because they’re designed with kind of a hostility to repair, or an ambivalence to repair.
Nathan Proctor
senior director of U.S. PIRG’s Right to Repair campaign
When the technician called, I explained the situation and that I needed to know how much it would cost before he came out. He told me he would charge for labor and parts.
How much? Since the microwave sits in a cabinet above the counter, to remove it would be a “two man job,” he said, and could cost upwards of $400 for the labor. What if my husband and I took the microwave out and placed it on the counter? In that case the labor charge would be closer to $200, but that wasn’t an exact estimate. It also didn’t include the cost of the lightbulb.
I canceled the visit and the technician said there would be no charge.
When I asked GE Appliances why the microwave was designed this way, a spokesperson responded via e-mail that microwave lights are designed to last the lifetime of the product and failures are very uncommon in their products. The light fixture is more than a standard bulb that has to be encased behind a metal enclosure.
“It’s not a simple screw-in and requires electrical training and background,” the spokesperson said. “Given the high voltage nature of microwaves, it not safe for consumers without a deep electrical understanding to operate on the interior of a microwave.” She also noted that service techs are required to test for emissions to comply with strict standards set by the U.S. government.
How ‘right to repair’ laws may affect options, costs
Studio4 | E+ | Getty Images
State lawmakers and consumer advocates have been trying to make it easier and cheaper for consumers to get their devices repaired.
Several states — including California, Maine, Massachusetts, Minnesota and New York — have implemented so-called “right to repair” laws. Typically, the laws require manufacturers of certain devices — such as consumer electronics or appliances — to make parts, physical and software tools and repair information, like schematics, available at a fair and reasonable price. These laws can make it more straightforward for consumers to do repairs themselves, and widen professional repair options, too.
Colorado and Oregon have passed right to repair legislation that will go into effect in the next year, and more than a dozen others have introduced bills, according to Repair.org.
“We are just now starting to see the impact of legislation that we’ve been working on for 10 years,” said Gordon-Byrne. The earliest right to repair bills were filed in 2014, she said — including the first, in South Dakota, which failed — and “we really only got the first three laws in place to start July first of this year.”
There are limits to what these laws can do. Typically they only cover purchases made in recent years, and can be product-specific. New York’s law, for example, doesn’t include appliances. Some states have separate laws to cover specific products like autos, farm equipment and electronic wheelchairs.
At the federal level, the Federal Trade Commission said in a 2021 report to Congress that “restricting consumers and businesses from choosing how they repair products can substantially increase the total cost of repairs, generate harmful electronic waste, and unnecessarily increase wait times for repairs.” The Commission has also brought warranty-related enforcement actions and this summer sent warning letters to several manufacturers about their warranty practices.
Critics of right to repair legislation say the patchwork of state laws are too broad and may do more harm than good.
“These state proposals and state laws could lead to a lose-lose situation in which manufacturers are harmed because it undercuts their profits, and consumers are harmed because they either see a decreased kind of quality of these products or an increase in price,” said Alex Reinauer, a research fellow at the Competitive Enterprise Institute.
Some products designed ‘with a hostility to repair’
Consumer advocates say state laws and the FTC actions help, but haven’t solved the problem.
“One of the main reasons why it’s so difficult to fix things is because they’re designed with kind of a hostility to repair, or an ambivalence to repair,” said Nathan Proctor, the senior director of U.S. PIRG’s Right to Repair campaign.
To give consumers more information, US PIRG is also launching a new effort to bring repair-score labeling to the U.S. Right now, “there’s no way to tell what products are designed to be serviceable, and therefore last, and be resilient and durable,” Proctor said.
France already has this kind of system, he said, and the EU is rolling out a “repairability index,” with a rating system that scores a product based on factors including a repair-friendly design and the price and availability of parts. Scores range from zero to 10, with higher numbers indicating a more repairable product and greater longevity expectations.
However, those scores are subjective and may not hold up over time. For example, if a manufacturer discontinues making a part, that reparability score may not longer be accurate.
Competitive Enterprise Institute’s Reinauer is keeping a score of his own, using a spreadsheet that compares the Ingress Protection (IP) rating, which grades how a product stands up to water and dust intrusion, with the reparability index. He says that comparison doesn’t favor repairs.
“When a when a product is more repairable, typically it’s less durable,” said Reinauer, “so there are trade-offs in this.”
Do-it-yourself help
Halfpoint Images | Moment | Getty Images
Depending on the nature of the problem and safety issues involved, a repair may be worth trying to tackle on your own. Appliance owners may find help from others online.
“Researching the broken item’s issue on the web often leads to information and guides posted by others who have encountered the same issue, or a similar issue and how they addressed it,” said Peter Mui, the founder of Fixit Clinics. Product owners can get help with a do-it-yourself project at a Fixit Clinic or online at Discord.
I’m weighing whether it’s worth trying to fix our microwave ourselves or to just live without an interior light. We could try to make it a fun community DIY event, but we risk a repair failure. The microwave model we have now typically costs between $420 and $480 new, if we want to replace it — but I promise I will not buy another appliance without checking if I can change the lightbulb.
Feels like there’s a bad joke in here somewhere.
Americans are growing increasingly uneasy about the state of the U.S. economy and their own personal financial situation in the face of stubborn inflation and tariff wars.
To that point, 73% of respondents said they are “financially stressed,” with 66% of that group pointing to the tariff wars as a main source, according to a new CNBC/Survey Monkey online poll.
The survey of 4,200 U.S. adults was conducted April 3 to 7.
Americans feeling financially stressed
CNBC/Survey Monkey polls from 2023, 2024, and this year have found that, on average, more than 70% of Americans said that they are stressed about their personal finances. This year’s survey found that 38% of respondents overall said they are “very stressed,” and 29% of high-earners with incomes of $100,000 or more also shared that sentiment.
Consumers are, of course, increasingly stressed by rising prices for essentials like food, energy, and shelter. This is due to a number of factors, including rising inflation, supply chain disruptions and geopolitical events.
In the new CNBC survey, 86% of Americans cite inflation as the top reason for their financial stress, while 75% pointed to interest rates and 66% cited tariffs.
While inflation peaked at 8% in 2022, a 40-year high, it has since cooled significantly, reaching 2.4% in March. Despite this decline, the increased prices during 2022 have led to a loss of purchasing power for Americans, meaning they can buy less with the same amount of money than before.
It would take nearly $114 today to buy what would have cost $100 in January of 2022, according to the Bureau of Labor Statistics.
And while Inflation has eased, experts do say the fallout from President Trump’s trade war threatens to put upward pressure on prices in the months to come.
Tariffs are generally considered to be inflationary, economists say. This is because tariffs increase the cost of imported goods, which can then be passed on to consumers in the form of higher prices. This can lead to a temporary increase in the overall inflation rate.
“We know that tariffs are inflationary,” said David McWilliams, an economist, podcaster and author. “We know that’s hitting on people’s expectations of how much money they’re going to have in their pocket in a couple of months time.”
So, when it comes to financial stress caused by tariffs, 59% of those surveyed by CNBC oppose President Trump’s tariff policy, with 72% concerned about the impact on their personal financial situation.
As a result, 32% said they have delayed or avoided making retail purchases, and 15% said they have “stocked up.”
What’s more, 34% of those surveyed said they have made changes to their investments due to recent stock market volatility from tariffs.
Handling financial stress
Many investors are concerned about their retirement savings, but financial experts say it’s important for those with a long-term perspective to understand that short-term market volatility is a distraction that’s better off ignored.
“The biggest thing is that it’s unknown, and when we don’t know things, and we can’t control things, that’s when our anxiety and our worry can spike, and it’s contagious,” said licensed therapist and executive coach George James, CNBC Global Financial Wellness Advisory Board member, a licensed therapist and executive coach.
While the market could be in for a bumpy ride over the next few months, experts say it’s best to stay the course and avoid making major portfolio changes based on the latest news.
To manage investments during the latest tariff volatility, for example, financial advisors urge investors to maintain a long-term perspective, review and potentially adjust their asset allocation, and consider diversification to mitigate risk. It’s also smart to bolster emergency funds, review your risk tolerance, and explore opportunities for tax-loss harvesting.
Financial experts also urge investors to focus on their risk appetite — and their goals.
“This is the time to evaluate short-, mid-, and long-term financial needs, concerns, and goals. Evaluation before action or inaction is essential,” said Michael Liersch, head of advice and planning at Wells Fargo, said in an e-mail to CNBC. “Getting specific on exact dollar targets, timelines around these targets, and their level of importance [priority] can create clarity around what should be done, if anything.”
Hinterhaus Productions | Getty Images
As investors digest the latest bond market sell-off, advisors have tips about portfolio allocation amid continued market volatility.
Typically, investors flock to fixed income like U.S. Treasurys when there’s economic turmoil. The opposite happened this week with a sharp sell-off of U.S. government bonds, which dropped bond prices as yields soared. Bond prices and yields move in opposite directions.
Treasury yields then retreated Wednesday afternoon when President Donald Trump temporarily dropped tariffs to 10% for most countries but increased levies on Chinese goods. That duty now stands at 145%.
As of Thursday afternoon, Treasury yields were down slightly.
Still, “there’s a massive amount of uncertainty,” Kent Smetters, a professor of business economics and public policy at the University of Pennsylvania’s Wharton School, told CNBC.
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Experts closely watch the 10-year Treasury yield because it’s tied to borrowing rates for products like mortgages, credit cards and auto loans. The yield climbed above 4.5% overnight on Tuesday as investors offloaded the asset. As of Thursday afternoon, the 10-year Treasury yield was around 4.4%.
Kevin Hassett, director of the U.S. National Economic Council, told CNBC on Thursday that bond market volatility likely added “a little more urgency” to Trump’s tariff decision.
As some investors question their bond allocations, here’s what advisors are telling their clients.
Take the ‘proactive approach’
Despite the latest bond market sell-off, there hasn’t been a recent shift in client portfolios for certified financial planner Lee Baker, owner of Apex Financial Services in Atlanta.
“I’ve been taking a proactive approach” by shifting allocations early based on the threat of future tariffs, said Baker, who is also a member of CNBC’s Financial Advisor Council.
With concerns about future inflation triggered by tariffs, Baker has increased client allocations of Treasury inflation-protected securities, or TIPS, which can provide a hedge against rising prices.
Consider ‘guardrails’
Ivory Johnson, a CFP and founder of Delancey Wealth Management in Washington, D.C., has also been defensive with client portfolios.
“I’ve used instruments to give me guardrails,” such as buffer exchange-traded funds to limit losses while capping upside potential, said Johnson, who is also a member of CNBC’s FA Council.
Buffer ETFs use options contracts to provide a pre-defined range of outcomes over a set period. The funds are tied to an underlying index, such as the S&P 500. These assets typically have higher fees than traditional ETFs.
Take a ‘temperature check’
With future stock market volatility expected, investors should revisit risk tolerance and portfolio allocations, Baker said.
“This is a good time for a temperature check,” he said.
Market turmoil has happened before and will happen again. If you can’t stomach the latest drawdowns — in stocks or bonds — this is a chance to shift to more conservative holdings, Baker said.
“We’re not selling because I’m concerned about the market,” he added. “I’m concerned about comfort level.”
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