I just wanted to say that we had a really nice washer/dryer part shop where the guy would pretty much tell us how to fix the problem. You may want to call around. I would in no way, shape or form assume it needs to be replaced. You could just need a $20 part, simple repair, who knows. Try to find out more.
But I did want to say too our dryer (oh yeah older than us) just died on us about a year back. It was so old and we had the money figured it was time to replace - we bought one of the only Big things we have ever bought new. I am astonished how much it (with the new washer anyway) has lowered our electric bill. Just FYI. It could be a good investment to go new.
Before this last purchase we bought 2 used dryers for around $50/each. The only reason I left the first one was I shared it with roommates and moved out. The 2nd one we used 5 years - it was over 30 years old. Go look in Craigslist or the paper and find a deal... You can probably find an energy efficient one to boot - someone just desparate to sell...
We gave away our washer on freecycle too - since we just decided to replace both due to age. Was perfectly good, just didn't want the hassle of trying to sell it or dispose of it. I would ask on freecycle too...
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