Major appliances, autos, and even some smaller items now offer extended warranties or repair plans. Do you think they are worth the cost?
Well that depends on where you are from, in countries like mine, where we repair everything from broken shoes to flushed phones. The answer would be no, having it would utter be useless. Example getting a smartphone with liquid damage would cost you around 11-12 USD to fix. A TV would cost you 12-20 USD to fix.
Honestly, I don't. All new appliances come with a one year warranty - these days it's often two years. If your product is going to go wrong, it's likely to happen within the standard warranty period. Electrical appliances either go on for years, or fall at the first hurdle. Another thing to remember is that extended warranties may have exclusion clauses that rule out some of the most likely problems you may have once your product is over a year old. I've never bought an extended warranty, and up to now, I've never had cause to regret it.
Not really, but it could depend on what you're buying. You need to find our repairing prices first and then see if it's worth it in the long term.
I have never purchased an extended warranty. Most of the consumer recommendation magazines say that it's a waste of money. I suppose that depends on whether or not you get to use it. I do have a friend who buys the extended warranty on computer products. I do think that those in particular are a waste of money.
I agree with the other posters. I worked for a call center that processed claims for extended warranties. It seemed like there were an awful lot of twists and turns written into the scripts so that the makers could avoid honoring claims.
I have bought them for a few, more expensive items. I can honestly say the I have never used any of the ones that I did get. I have heard that they really are not worth it. If you do have one and try to file a claim on it, it is impossible to fight and win. I find deecee's post interesting as it explains why they are so impossible to deal with.
No, I don't think they are typically worth the cost. The only item I bought one for that I actually used was for a dining room set. The warranty was for repair or replacement for 5 years, and it was relatively inexpensive. I had them come out to repair a wood chair twice, so in this case if was worth it. I never buy them for appliances or electronics, though, and I've never had a situation where I would have used it.
I never get the extended warranty. I just think it's a way for the store to make more money. If you're careful with your merchandise, there's no reason why you need to purchase them. If my product should break I would try to fix it myself.
It depends on the price of the product. If its just for a regular appliance that you can get anywhere else for cheaper than no paying 19.99 for any kind of warranty is just silly. If its for an iPhone 4S get the warranty and extend it. If its for a car...get the warranty and extend it. You just don't want to run into the worst case scenario and end up having to pay out of pocket.
The ones that Circuit City used to sell were worth it. It was more of a performance guarantee than just an extended warranty. Anyway, oftentimes, they'd just replace the item out versus trying to repair. Phones, radios, walkmen, CD players, it was a steal. Now, it really depends on what it is that you are buying and how often you think about getting a new one. If it's something that you can see yourself replacing as soon as or shortly after the next new thing, then don't get one. On appliances and even cars, I'd consider it. Those are things that you end up keeping longer than you had initially imagined.
They usually aren't. There are some exceptions, though. I usually make the decision based on how much the total price of a new one is compared to how much I would have to pay out of pocket for a brand new version or to have someone to repair it. If it's anything more than a small percentage, then I don't bother.
I never get the extended warranties because I always treat the things I have with as much care as I can. I have bought them for a few things but I never need them anyway.
Yeah, same here. I almost never break any of the things I have, so paying for warranty seems pretty pointless to me.
There have been plenty of times that I've purchased an appliance and wished later that I'd purchased the extended warranty. I won't buy another appliance without purchasing a warranty.
They are not really worth the money I don't think but that is kind of a "iffy" thing. Sometimes it pays to have an extended warranty and sometimes it doesn't pay. Who knows if what you bought is gooing to tear up before the warranty expires. So Sometimes your appliance goes out as soon as the warranty expires and then what do you do about that? I always take my chances on that because it just may be time to buy a new one anyway.
You also have consumer and statutory rights that the manufacturers provide on most items. Under UK legislation every major electrical appliance is supposed to last you 6 years, but the sellers of these items do not tell you this because they fear you won't pay for there pointless extended warranty. They prey on people not knowing their rights. Save money and argue your point.
You know that is what I thought and they just want us to pay them extra money that is not needed for such an item. It should be a law against that and they should have to pay a fine for asking people to do such a thing. I know I am very selective on what warrantee that I would buy and sometimes I tell them if it breaks down then I will be back at your store. I will go by your rules from here on out, I bet you.
Nope. I definitely don't believe in purchasing an additional warranty. Even financial experts argue against this practice, which is surprising. A lot of electronics last a long time and are built quite well. Stores really promote these warranties at Christmas time and, unfortunately, people buy into it. Always opt out of this warranty. Good luck!
Not for me. By the time the warranty ends, the product which I bought is still in working condition. I just don't see the point in paying extra for something that hardly ever breaks.
