When something breaks, it usually makes more sense to fix it than replace it. There are exceptions of course, especially when the repair would cost more than the replacement, but generally I'm a strong supporter of fixing what you've got.
But not always.
Our washer stopped cycling last week. (I realized it one afternoon when I came in from my shop/office and realized the whites I'd put in that morning were still washing five hours later.) That's a problem that can be fixed - a new timer mechanism is about $100. But the washer is 10 years old, and wasn't efficient even then. Today's high-efficiency models simply put it to shame, both in the amount of energy they use and the way they treat your clothes.
So, Consumer Reports gave us good direction, and sales and credit-card-cash-back deals kept the cost reasonable and a new washer came home Saturday. We've already saved $5 in quarters by being able to wash our comforter at home...
Just got the washer, though. New dryers aren't that much more efficient than old ones - there's just no efficient way to turn electricity into heat - so the old dryer will stick around until it dies a natural death.