Extended Warranties - Yes or NO?

debodun

debodun

SF VIP
Location
way upstate in New York, USA
Consensus of opinion, I've heard, is that extended warranties aren't worth it. The car, appliance or other gadget will probably work past the date. Even if it fails, try and get the manufacturer to honor it. They seem to have a way to find a loophole.
 

There is a reason those warranties are pushed on people: There is more profit in the extended warranty than selling the product. It really makes me LOL when those TV ads for house & car warranties plays again & again. That tells me they're finding suckers to go for them. And there is a reason that tiny-print paragraph appears at the bottom of the ad.....of course it's not readable; they wouldn't want you to know about all the exclusions & other B.S.

Yesterday, I bought a $7.00 flash drive. Yup, the salesman asked me if I wanted to purchase an extended warranty. (It's not his fault; he's just doing what he's paid to do). But we did get a good laugh.

Many years ago, I bought a cordless phone that wouldn't hold a charge for more than 10 minutes. When I returned it, the salesman said they couldn't help me because I didn't buy an extended warranty. I had a good laugh, left the phone on the counter, said "Bye Bye" to the moronic salesman, & disputed the charge with my CC company.

Newsflash: The only way they can make money is if they take in more for the premiums than they pay out. Could it be any simpler?
 
When young, I bought into a few extended warantees but after the first year or so the cost of the annual warantee constituted a significant percentage of what would have been a replacement cost, so I was done with them.
 
Depending on what I buy, and if it's worth a warranty. The truck we bought a couple of years ago, we got the warranty, just because I do not know the history. If I bought it new, then I would not bother, because I would do everything it needs... Just a preference I guess...
 
win231 said:
It really makes me LOL when those TV ads for house & car warranties plays again & again. That tells me they're finding suckers to go for them. And there is a reason that tiny-print paragraph appears at the bottom of the ad.....of course it's not readable; they wouldn't want you to know about all the exclusions & other B.S.
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I've seen the American Home Shield ads and they do say in a voice over that limitations and exclusions apply, but they do not specify what those entail.
 
win231 said:
Yesterday, I bought a $7.00 flash drive. Yup, the salesman asked me if I wanted to purchase an extended warranty. (It's not his fault; he's just doing what he's paid to do). But we did get a good laugh
Click to expand...
Yup
The last salesman to approach me apologized right after is spiel
The extended warranty was twice the price of the on sale gadget
 
Extended warranties are largely a waste of money. If a home appliance, (refrigerator, etc.) works good for the 1st month, it will probably last several years. The money one would pay on such a "warranty" would probably buy a new fridge every 5 or 6 years. Extended warranties on a vehicle are even worse...the list of "exclusions" in those policies allows the insurance company to reap big profits.
 
I once bought a warranty on a new PC. Turns out that I soon had a major failure with the unit but getting any benefit from my warranty was simply not on their agenda. I vowed never again.
 
Extended Warranties
Deep Cleaning (because your dentist recommends it) "Don't you care about your teeth?"
Exam & X-Rays every 6 months (because your dentist recommends it) "Don't you care about your teeth?"
Exam, complete lab tests, etc. for your 15-year-old dog (because your Vet recommends it) "Don't you love your dog?" Isn't he worth it?"
Undercoating (Well, who wants a dirty car bottom?)
Paint Protection ("Your car will stay clean & you won't have to wax it for 6 years")
Gap Insurance (extra car insurance for a lease)
Car Alarm (in addition to the one that's already on your car when you buy it)
Vitamins & Supplements (without them, you'll get sick & die.) Well, you can't just eat....ya know.

Yeah....none of these things are just to make money.........
🙂
 
win231 said:
Vitamins & Supplements (without them, you'll get sick & die.) Well, you can't just eat....ya know.

Yeah....none of these things are just to make money.........
🙂
Click to expand...
I take a few dietary supplements because many of the foods that have needed vitamins and minerals I simply do not like or eat. How much Vitamin C in a cheese sandwich? If an apple costs a dollar and a box of macaroni costs a dollar and I can get 5 or 6 meals out of the macaroni, you do teh math.
 
debodun said:
I take a few dietary supplements because many of the foods that have needed vitamins and minerals I simply do not like or eat. How much Vitamin C in a cheese sandwich? If an apple costs a dollar and a box of macaroni costs a dollar and I can get 5 or 6 meals out of the macaroni, you do teh math.
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I should have clarified: Some people may need supplements due to illnesses or a poor diet. I have a problem with marketing vitamins to EVERYONE under the guise of "Staying Healthy" or "Preventing Disease." It they only marketed to some individuals, they wouldn't profit enough to be worth it.
 

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