Extended Warranties - Worth or waste!

[GucciBoy]

if you have gotten one, tell what you got it on, how much and how it all worked out for you. I would like to hear your bad and good stories, lets get started!

Cars
Computers
Printers
TVs
Audio
MP3 players
Phones
Furniture
etc, etc, etc.
you name it.

[hjr]

OH MAN! i always go for extended warrenty. Its well worth it.

[Weapon_R]

I never do! Most items come with at least 1 year. If something happens after that, oh well thats life.

I bought a $350 extended warranty through Future shop a few years back. Never used it once. TVs last forever.

[menace3]

oh man its well wothieth. especially on electronics

[core_upt]

I have always bought extended warranties on products that tend to be abused or at least used in rougher conditions or that have a high replacement value ie, bigger TVs, MP3 players, recievers (home audio), just about anything that goes into a car (think of a deck that sits right along side heater controls in a bouncing vehicle that in calgary goes from 20 below to 20 above in 5 minutes!)

I wouldn't buy it on "disposables" such as phones, printers (an ink cartridge is half the price of a new printer), or computers since most of the time, malfunctions are out of the box or caused by software.

I work in an electronics store and myself and most of the people that work there buy a lot of warranty - we see how much stuff can come back with problems - and its all about protecting your investment.

[GucciBoy]

Originally posted by core_upt
I have always bought extended warranties on products that tend to be abused or at least used in rougher conditions or that have a high replacement value ie, bigger TVs, MP3 players, recievers (home audio), just about anything that goes into a car (think of a deck that sits right along side heater controls in a bouncing vehicle that in calgary goes from 20 below to 20 above in 5 minutes!)

I wouldn't buy it on "disposables" such as phones, printers (an ink cartridge is half the price of a new printer), or computers since most of the time, malfunctions are out of the box or caused by software.

I work in an electronics store and myself and most of the people that work there buy a lot of warranty - we see how much stuff can come back with problems - and its all about protecting your investment.

good point.

I totally regret a $399 ext. 3yr warranty as Future crap last sept. Wish I could get my $ back.

I initally got a 3yr on a digicam, but cancelled it the day after and got my $ back.

Printers - never, unless it was over $1000.

The worst is when you go in buy a big item and you have to hear the whole speal from the rep. about thier PSP. "So sir, did you hear about our PSP, let me take you over here and tell you about it (pulls out booklet). Its like just ring the sale through argh!

[GucciBoy]

Originally posted by Weapon_R
I never do! Most items come with at least 1 year. If something happens after that, oh well thats life.

I bought a $350 extended warranty through Future shop a few years back. Never used it once. TVs last forever.

very true. get a good one and you wont have any problems.

[Weapon_R]

Warranty works just like insurance. Whenever its not mandatory, people who are risk averse will tend to buy more insurance than those who arent. Similarily, people will tend to opt for extended warranty when they feel that something will happen.

My parents had an RCA television for about 15 years One of those old box type ones, and it worked without a single problem in all that time. I bought a 32" RCA from Future shop with warranty, and i've not had a single problem in the last 3 years. If something does go on it, that's life. I think most TV manufacturers do a pretty good job of offering a decent product. If I were to buy an Ipod or something with a long history of common problems, i'd probably opt for the warranty on it. One problem with the warranty is that it's a chore to claim any repairs.

I bought a warranty from Futureshop for my computer (years ago, since then they've changed this). Anyways, it did cause me trouble and I would take it there for repairs. They would take it to another place for warranty work, and i'd often be without a computer for at least 3-4 weeks. I know that warranties have become a lot better now, but it seriously turns me off from the whole deal.

[GucciBoy]

Ya thats the thing. Future crap over exaggerates on their PSP. Ive just heard way too many bad stories about it.

[Mad$ella]

Better safe than sorry!

[Mad$ella]

also depends on how hard they are trying to bone you with the price of extended warrenty.
Last year my dad bought a 42" LCD Sony, and I wouldnt let him not get the extended warrenty.

[Xtrema]

Please read you credit card agreement.

Most credit card will double manufacturer's warranty up to 1 year (except computers). So it could be a waste to buy extra if your CC already covers it.

Plus some also provides theft and damage coverage as well.

Of course, there's a life time limit on claims but it's better than store provided extended warranty. So READ YOUR Credit Card agreement, it could save you a bundle.

Also, most shop provided exteneded warranty is a scam, especially on portable electronics. If your mp3 player or camera breaks, the standard answer is always "you broke it, it's not covered, blah blah blah"

I'll only buy extended warranty on big ticket items like projection TVs, and may be on cars (espeically European, since domestic is cheap to fix and Asian hardly ever breaks) if I can get it down to a good deal.

My buddy's 42" Sony projection HDTV dies after just 9 months of use. The technician went on site and fix everything and tune the unit for optimum operation. You won't get that for standard warranty I believe. So it's well worth it for him.

[Weapon_R]

Cool, I never even thought of the added protection that my CC gave me. There's another reason to think twice about buying warranty.

[69cougar]

All above have made very good points. It basically comes down to knowing what you are buying. With electronics almost all of the smaller stuff dropis in prce over time. On my DVD player it was only like $160 and the PSP was about $45. If I get 2 years out of it I would rather put that $45 towards something that now cost $99.

As for cars, I think the extended warranty is garbage UNLESS it is manufactuers. Most of the 3rd party like Lubrico and Global are simply profit increasersfor the selling dealer. The warranty company sells the warranty for $99-250 to the dealer and they sell it to you at like $500 and tell you how great the warranty is. The only problem is the warranties suck and they will usually never pay out.

Just my .02

[Xtrema]

Also some warranties are slightly better than others.

Like Visions, their extended warranty is refundable as store credits if you never call in the problem during the coverage period. There are a few instruction and limitation you have to follow in fine print but at least you can get some extra stuff back from them if you never get to use the extended warranty.

They also accept bargains, not like future shop's take it or leave it price. It the price is above cost, they'll do it. Just watch out for sneaky salemen, I know and dealt with quite a few.

[Ed the SOHC]

IMO, warranty is only good if you have an insider

LUDELVR got a new laptop from his warranty. I believe he bought a crap open-box laptop for $500 and then paid an additional $299 for the warranty and then later got it exchanged for a new one.

[frostyda9]

Originally posted by Mad$ella

Last year my dad bought a 42" LCD Sony, and I wouldnt let him not get the extended warrenty.

Depending on the terms of the warranty (# of dead pixels) IMO that is a wise choice with LCD displays. For anything else I go with the manufacturers warranty and just take good care of it.

[hedge]

Generally they're a scam, they do make sense on a few big-ticket items. You're first warning should be as to how hard the salesman try to sell it to you.

For more reading:

http://www.cbc.ca/consumers/market/f...s/what_is.html

http://www.digitalhomecanada.com/ind...=110&Itemid=55

[canuckmuscle]

it should be a tipoff that its a scam when the companys press so hard to be selling them. Like at future shop even a cashier gets commision if they can convince you to get a service plan. never worth it, its like gambling...the house always wins

[gongSHOW]

Usually i tend to stay with buying the warranty from the manufacturer and have only recently purchased warranty on my laptop and iPod. The laptop has had a few problems but sent it in and got it back in 5 days. i know some guy who bought it from London Drugs on the same computer, didn't get the computer back for 2 weeks and they didn't even fix all the problems.