Comments on: Extending your warranty or depleting your cash? http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/ Having it all with less. Tue, 22 May 2012 03:01:52 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Katie http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3520 Katie Tue, 26 Sep 2006 13:01:23 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3520 I agree, extended warranties are usually a rip-off but my husband likes to buy them anyways. And it did pay off once, our dvd player (like $1000 installed) in our van died after a year and a half, 6 months out of normal warranty time. DH had bought the 4 year plan and we got a brand spanking new <i>portable</i> dvd player without paying anything for the upgrade. I still don't know how we lucked into that bit of amazing Best Buy customer service because that way beyond what we should have received. I agree, extended warranties are usually a rip-off but my husband likes to buy them anyways. And it did pay off once, our dvd player (like $1000 installed) in our van died after a year and a half, 6 months out of normal warranty time. DH had bought the 4 year plan and we got a brand spanking new portable dvd player without paying anything for the upgrade. I still don’t know how we lucked into that bit of amazing Best Buy customer service because that way beyond what we should have received.

]]> By: Monica http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3518 Monica Tue, 26 Sep 2006 12:25:19 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3518 Watch for deals though. Since most extended warranty prices are based on the cost of the item, if you get a REALLY good deal on something and the extended warranty covers replacment with an equivilent product it may be worth it. When setting up our home gym in the garage we bought a super cheap dvd player for $20. The extended warranty was another $5, and when the temperature changes in our climate inevitably kill that dvd player they will replace it with the cheapest one they have at that time. Based on history, it will be better than the one we have now, and will probably cost more than the $25 we've already invested. Watch for deals though. Since most extended warranty prices are based on the cost of the item, if you get a REALLY good deal on something and the extended warranty covers replacment with an equivilent product it may be worth it.

When setting up our home gym in the garage we bought a super cheap dvd player for $20. The extended warranty was another $5, and when the temperature changes in our climate inevitably kill that dvd player they will replace it with the cheapest one they have at that time. Based on history, it will be better than the one we have now, and will probably cost more than the $25 we’ve already invested.

]]> By: donna http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3515 donna Tue, 26 Sep 2006 11:21:46 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3515 I'm uncharacteristically in disagreement with you about the extended warrentees. We generally do not buy them, except for a) automobiles, b) expensive electronics (think plasma TV) and c) expensive appliances (mid-to-upper range stove, dishwasher, etc.) Ok, I admit, we are probably blowing money on the car warrentees, but as far as I'm concerned, I like that warm protected feeling of not having to worry where a new transmission is going to come from. As for the appliances and the expensive electronics, we get our money out of these warrentees *every* *single* *time*. (which is easy, because certainly for appliances and electronics, you break even the first time a repair is needed. Anyway, have I mentioned how much I love your site? And gosh, you're so pretty, Mir. donna I’m uncharacteristically in disagreement with you about the extended warrentees. We generally do not buy them, except for a) automobiles, b) expensive electronics (think plasma TV) and c) expensive appliances (mid-to-upper range stove, dishwasher, etc.) Ok, I admit, we are probably blowing money on the car warrentees, but as far as I’m concerned, I like that warm protected feeling of not having to worry where a new transmission is going to come from. As for the appliances and the expensive electronics, we get our money out of these warrentees *every* *single* *time*. (which is easy, because certainly for appliances and electronics, you break even the first time a repair is needed.

Anyway, have I mentioned how much I love your site? And gosh, you’re so pretty, Mir.

donna

]]> By: Elizabeth S. http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3505 Elizabeth S. Tue, 26 Sep 2006 08:03:11 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3505 I once bought I $60ish watch at a department store. The saleslady was all nice until I turned down the extended warranty. "If it breaks YOU'LL be sorry!" she fumed. "No I won't. I'll just get another watch." And you know, it's still ticking. :) I once bought I $60ish watch at a department store. The saleslady was all nice until I turned down the extended warranty. “If it breaks YOU’LL be sorry!” she fumed. “No I won’t. I’ll just get another watch.” And you know, it’s still ticking. :)

]]> By: Daisy http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3497 Daisy Tue, 26 Sep 2006 01:37:51 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3497 Keep in mind whether the item will be out of date (i.e. new HD compatible tvs) or cheaper when or before the warranty expires. We bought a short one for our TV, but declined to renew it. (And husband is a TV engineer; I trust his judgment on this one.) Keep in mind whether the item will be out of date (i.e. new HD compatible tvs) or cheaper when or before the warranty expires. We bought a short one for our TV, but declined to renew it. (And husband is a TV engineer; I trust his judgment on this one.)

]]> By: rachel http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3496 rachel Tue, 26 Sep 2006 01:30:45 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3496 I totally agree on the extended warranty on laptops. I refused to buy mine until we could also afford the extended warranty, as my earlier "extended warranty" was being friends with someone in the tech support for laptops who would let me get service for free. ;) Unless you're buying a Mac, I've got a however on the desktop computer. If someone in your family is a geek, buy a generic, cobbled-together computer because then when something breaks they can just buy that one part that is broken and put it back together. most components have better warranties than whole computers. One other thought - my FIL worked in furniture sales, and the extended warranty is a great jump in commission - they get x% for regular commission then a higher percent if they sell the extended warranty. That explains the hard sell, but also if you want to reward a really good sales guy, buying the extended warranty is like a tip. Assuming, of course, that it's a reasonably-priced extended warranty. I totally agree on the extended warranty on laptops. I refused to buy mine until we could also afford the extended warranty, as my earlier “extended warranty” was being friends with someone in the tech support for laptops who would let me get service for free. ;)

Unless you’re buying a Mac, I’ve got a however on the desktop computer. If someone in your family is a geek, buy a generic, cobbled-together computer because then when something breaks they can just buy that one part that is broken and put it back together. most components have better warranties than whole computers.

One other thought – my FIL worked in furniture sales, and the extended warranty is a great jump in commission – they get x% for regular commission then a higher percent if they sell the extended warranty. That explains the hard sell, but also if you want to reward a really good sales guy, buying the extended warranty is like a tip. Assuming, of course, that it’s a reasonably-priced extended warranty.

]]> By: BB http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3491 BB Mon, 25 Sep 2006 20:03:41 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3491 Extended warranties on cars aren't so clear cut. A cheap repair these days is under $500. (Brakes on my old car, a Dodge Grand Caravan, cost me close to $400. Transmissions and the like are in the stratosphere.) You can buy an aftermarket warranty from someone reputable, like Warranty Direct, for quite a bit less than most manufacturer warranties, typically around 1.5 times the cost of a cheap repair. That's not too bad. I don't buy warranties on most electronics. And contra Mir, I also have no real objection to appliance warranties, provided the appliance is an expensive one. For example, no extended warranty on a $400 dishwasher, but definitely yes on a $1,000 washing machine. One alternative to an appliance warranty is a home warranty, typically around $400 per year, but covering a lot of repairs in the home. I've had good and bad experiences with the home warranty people, but, if your home is more than 10 years old and you don't have $5k sitting in the bank for a "bad year" (hot water tank leaks, furnace needs replacing, etc., all in one year), it's not such a bad idea. Extended warranties on cars aren’t so clear cut. A cheap repair these days is under $500. (Brakes on my old car, a Dodge Grand Caravan, cost me close to $400. Transmissions and the like are in the stratosphere.) You can buy an aftermarket warranty from someone reputable, like Warranty Direct, for quite a bit less than most manufacturer warranties, typically around 1.5 times the cost of a cheap repair. That’s not too bad.

I don’t buy warranties on most electronics.

And contra Mir, I also have no real objection to appliance warranties, provided the appliance is an expensive one. For example, no extended warranty on a $400 dishwasher, but definitely yes on a $1,000 washing machine. One alternative to an appliance warranty is a home warranty, typically around $400 per year, but covering a lot of repairs in the home. I’ve had good and bad experiences with the home warranty people, but, if your home is more than 10 years old and you don’t have $5k sitting in the bank for a “bad year” (hot water tank leaks, furnace needs replacing, etc., all in one year), it’s not such a bad idea.

]]> By: bec 36 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3488 bec 36 Mon, 25 Sep 2006 18:32:38 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3488 We bought a 5-year warranty on a set of leather furniture. The plan had some sort of fancy name, and it claimed that if anything happened and the leather was punctured or torn (even from pet claws, which was our major pre-child worry back then), they would fix it and it would look like new! And there were before and after pictures proving it! So, it tore, we called, they came, they...did stuff. And it did not look like new, and they claimed it was because of the light color of the leather. Ahem. When I called back to complain that the repaired tears had come apart again I was told they couldn't help me ... because I had not called right away. Grrr...I'm getting all pissed off again remembering this. Bottom line, I agree! bec :D We bought a 5-year warranty on a set of leather furniture. The plan had some sort of fancy name, and it claimed that if anything happened and the leather was punctured or torn (even from pet claws, which was our major pre-child worry back then), they would fix it and it would look like new! And there were before and after pictures proving it! So, it tore, we called, they came, they…did stuff. And it did not look like new, and they claimed it was because of the light color of the leather. Ahem. When I called back to complain that the repaired tears had come apart again I was told they couldn’t help me … because I had not called right away. Grrr…I’m getting all pissed off again remembering this.

Bottom line, I agree!

bec :D

]]> By: MamaChristy http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3486 MamaChristy Mon, 25 Sep 2006 18:27:07 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3486 When reviewing big ticket items, Consumer Reports often tells you if it is worth it to get the extended warranty. We got one on our cheap 'fridge that we bought when we moved into our first house. I know, I know. We shouldn't skimp on something like a refridgerator in the first place, but we didn't have the money to go big. We did manage to scrape up the cash for the warranty and were glad that we did. The compressor started making all kinds of awful noises and while the food was still cold, we couldn't sleep at night for all the noise. Turns out that the repair on our four-year old would have cost $450 and we only paid $575 for the fridge! In that case, worth it. I'm with you, do your homework before you buy. When reviewing big ticket items, Consumer Reports often tells you if it is worth it to get the extended warranty. We got one on our cheap ‘fridge that we bought when we moved into our first house. I know, I know. We shouldn’t skimp on something like a refridgerator in the first place, but we didn’t have the money to go big. We did manage to scrape up the cash for the warranty and were glad that we did. The compressor started making all kinds of awful noises and while the food was still cold, we couldn’t sleep at night for all the noise. Turns out that the repair on our four-year old would have cost $450 and we only paid $575 for the fridge! In that case, worth it. I’m with you, do your homework before you buy.

]]> By: Andrea http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3484 Andrea Mon, 25 Sep 2006 18:07:02 +0000 http://wantnot.net/2006/09/25/extending-your-warranty-or-depleting-your-cash/#comment-3484 We are in the same boat as you, pretty Mir. We are big naysayers on the extended warranties. We like to make sure that when we buy big ticket items we use a credit card that extends the warranty. These warranties are getting ridiculous too: At a big box store recently (sounds like Came-Apart), I was asked if I wanted one for a $29 home hair cutting kit, as well as for a luggage set. C'mon people! We are in the same boat as you, pretty Mir. We are big naysayers on the extended warranties. We like to make sure that when we buy big ticket items we use a credit card that extends the warranty.
These warranties are getting ridiculous too: At a big box store recently (sounds like Came-Apart), I was asked if I wanted one for a $29 home hair cutting kit, as well as for a luggage set. C’mon people!

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