Meaning of the word "cheapest is often the dearest" in English

What does "cheapest is often the dearest" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

cheapest is often the dearest

US /ˈtʃiːpɪst ɪz ˈɔːfən ðə ˈdɪrɪst/
UK /ˈtʃiːpɪst ɪz ˈɒfən ðə ˈdɪərɪst/
"cheapest is often the dearest" picture

Idiom

buying something because it is inexpensive often ends up costing more in the long run due to poor quality or the need for repairs

Example:
I bought a budget lawnmower that broke after a month; I guess cheapest is often the dearest.
Don't just look at the price tag when buying tools, because cheapest is often the dearest.