Are extended warrantys worththe extra expense?

Question

Are extended warrantys worththe extra expense?

Answer 1

Is auto insurance worth the extra expense?  It is if you have an accident.

What are the odds you'll need the warranty?  Usually, with the high cost of repair today, if you use the warranty once it will pretty much pay for itself.

Fact is, there are far more people who NEVER need the warranty than people who DO.  Otherwise, warranty companies would be out of business.

What are YOUR odds?  Who knows.

In my many years, I've only bought a couple of warranties, and I have never needed to use them.  I did have a stereo receiver that was damaged by a power surge, and I just had to throw it away.

But of all the things I've owned, homes, cars, refrigerators, electronics; There is no doubt that overall, I've come out much cheaper by not purchasing warranties.

Answer 2

No...if a large ticket item is going to break...it will normally break during the 90 day warrenty offered by the manufacturer...and you are covered for free. Don't waste the extra money...its either a 90 day lemon or not.

Answer 3

Yes. I've had warranty issues with manufacturers and spent weeks waiting for a simple repair. When you have the extended warranty you can pretty much walk into the store and get a new one. Frys and Sears are good about that. Sears has a really awesome repair center. They come to my house and fix it right there, usually.

Answer 4

Yes.  I fix tvs all day--everyday.  Cost you a minimum of $200 for in home repair just for labor and trip.  LCD (please dont buy a plasma) has 3 parts essentially.  Power supply usually costs $100-$250.  Digital main (most common failure) $250-$550 and the Panel itself---costs more than a new TV.  There are two other components that have failures---the inverter (power supply for backlight) and the t-con (interface board between digital main and panel) that are only available occasionally and usually run between $100-$350.

Conclusion--any repair will cost a minimum of $300 (very uncommon) up to ridiculous.  I'd guess the average to be around $550 that is when someone wants it fixed.

When we get a call for an in warranty set we will bring the suspected part with us on the first trip--if it's an out of warranty call we will go and check it out first--give an estimate and then order the part and come back---reason?  We have to pay restocking fees on returned new parts---sometimes 30%.  We do keep some commonly used parts on hand depending on the volume of usage and you might luck out that we may have one to bring with us but would you pay $550 to fix a 32" LCD?

Answer 5

If you plan on breaking your product, yes.

If you don't think you'll ever break your product, no.

Answer 6

on big electronic items like tvs and computers yes and small items like ipods and video game systems yes.  cause even though you may think nothing can happen to the electronic item your electricity can ruin it and unseen internal occurances can harm it also