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Home audio & video: Poll: Flat-panel TV purchase, is an extended warranty worth it?
- 7/20/07 10:16 AM
(NT) lol! Sad, but true.
by misterguy - 7/22/07 6:44 PM In reply to: they were american made... by woodyggDepends on the coverage offered
by supermanx1a - 11/24/07 8:36 AM In reply to: they were american made... by woodyggI work for a very large national electronics chain and let me tell you that the protection from extended warranties differ widely according to the product. For eg: computer components are exchanged over the counter [Buy it!]. TV's and cameras are only repaired with a delay of 4 to 6 weeks [don't bother!] Large TV's are repaired at home, not taken to the shop [Buy it!]. As you can see, it depends on the item and the coverage. Mfrs guarantee their products for a period during which they do not expect repairs or returns, usually 90 days to 1 year. After that you are on your own.
yes, you should take that into consideration...
by woodygg - 11/25/07 7:25 PM In reply to: Depends on the coverage offered by supermanx1abut it makes no difference upon where it's repaired - i'm still not wasting my money on a tv extended warranty just because they come to my house.
"Mfrs guarantee their products for a period during which they do not expect repairs or returns, usually 90 days to 1 year."
this statement is absolutely false. IF an electronic product is going to break, it's MUCH more likely to break sooner as opposed to later.
I Know What You Mean...
by wakewop - 7/21/07 6:37 AM In reply to: I think so. by RustyDallasFirst off, comparing autos to electronics is doing the apples and oranges bit. Unlike a used car, electronic manufacturers provide somewhat decent warranties without having to purchase additional coverage.
I stepped out of my mode and bought a used 1999 American made Ford Winstar just last year and did not purchase an extended warranty. From January until now, we have spent more on repairs on this junk then what we paid for it last July.
It's back to imports for me. Thankfully, many if not most of the components of today's electronic products are made in Asian factories. I hate to sound unpatriotic, but when you get hit so hard in the wallet, you have to re-consider your priorities.
Yes, No and maybe!!!
by jcrobso - 7/20/07 1:32 PM In reply to: Poll: Flat-panel TV purchase, is an extended warranty worth it? by Lee Koo (ADMIN)
A Lot Depends on the "set" and the cost of warranty/TV life insurance.
When I bought my HDTV from Sam's a 3 year contract was $70 for a $1000 HDTV.
If you have a PR-HDTV set that has a $250 lamp that will burn out a contract could be a good idea if the cost is less or = to the cost of the lamp. John
Plasma / LCD No
by kcfvegas - 7/20/07 7:23 PM In reply to: Poll: Flat-panel TV purchase, is an extended warranty worth it? by Lee Koo (ADMIN)
The question is for flat panel TVs, so the answer for me is no, because of the reliability factor. For a little extra peace of mind I will buy at Costco because of their two year free warranty, or use a credit card that will double the sets warranty.
COSTCO Yes, Best Buy big fat NO
by JoeBos - 7/23/07 12:13 PM In reply to: Plasma / LCD No by kcfvegasThe extended warranty at Best Buy was totally useless. Their scam is that adjustments are not covered and you have to prove to them that it is a solderable component that needs relacement. The salesperson lied about so many aspects of the extended warranty that it was astonishing how he could have kept a straight face. Now I'm out $300 for the warranty and have to put up with green curvey lines on my three-year old (expensive)Sony. Next TV will be a non-name brand at COSTCO.
Sometimes .....
by Watzman - 7/20/07 7:34 PM In reply to: Poll: Flat-panel TV purchase, is an extended warranty worth it? by Lee Koo (ADMIN)
It depends both on the technology and on what the warranty covers.
For example: For sets using projection technology (DLP, LCD PROJECTION, and LCoS), if the warranty covers lamps, it's probably worth it. Most of these lamps are $200 to $600, which may exceed the cost of the entire extended warranty. Even if there are limitations (Best Buy's 4-year extended warranty on a JVC LCoS costs $350 and includes ONE lamp replacement (lamp cost = $200)), that means that the entire rest of the 4-year warranty is effectively $150 ... probably a good buy.
The technology also matters in the LCD direct view has relatively few repairs, Plasma more, and DLP quite a bit more. So I'd be more inclined to go with an extended warranty on a DLP set than on a direct view LCD set.
Repairs on these sets can be extremely expensive, $600 to $1,000 is not that unusual, so it's definitely worth considering. It's an insurance policy, of course, so you have to weigh the cost vs. the liklihood you will need it and the cost if you have a failure and no service plan. It's definitely worth considering, it's not always a good idea, but it clearly is in some cases.
Not Worth It ! If it was for ten years, Yes.
by fliersrr - 7/20/07 7:59 PM In reply to: Poll: Flat-panel TV purchase, is an extended warranty worth it? by Lee Koo (ADMIN)
Extended contracts on almost anything are not worth the money, esecialt a Plasma. They have a life expectacy of 6 years. Extended contracts are usualy 3-4 max. Put the money in the bank and in 6 years go get another. By that time they will be even cheaper.
Flat TV extended warranty
by brian kemp - 7/20/07 8:06 PM In reply to: Poll: Flat-panel TV purchase, is an extended warranty worth it? by Lee Koo (ADMIN)
Yes, always have an extended warranty, unless you have substantial disposable income. I owned a 32 inch TV for 16 years. I took out an extended waraanty for five years at a cost of $100. During that time I had three service calls only. However, the cost to repair or replacer the failed parts was far in excess of $100. With a Flat TV, more technical areas are modular and thererfore there are less parts. When one of these parts develops a fault it will cost a lot more to replace than the small failed items in an old style TV.Therrefore it is, in my opinion, foolish not to pay a little to ensure no large payouts later. Do you insure your car??? Do you have life insurance?
Everything breaks.
Bad financial advice
by woodygg - 7/21/07 9:00 AM In reply to: Flat TV extended warranty by brian kempYou cannot compare purchasing auto and life insurance to an extended warranty where you're downside is very limited to the cost of the item. You don't compare being in an automobile accident and potentially having almost unlimited liability with your $1,500 television crapping out!!!!!! You don't compare leaving you're wife in decent financial shape by having life insurance to your television breaking down!!!!
Any decent financial planner will tell you not to insure specific small dollar items (riders, etc) - like you're jewelry, etc. Insurance is for catstrophic events.
I have a background in finance and work for an electronics mfg. One of my jobs is to estimate our warranty liability and to cost out extended warranties. I know how this business works, and I KNOW that they make a profit margin that would make your head spin. I have yet to ever buy an extended warranty (of course, I buy japanese cars as well) and have yet to ever need one. With the money I've saved by not buying extended warranties, I could purchase four brand new HDTV's!
IF a high tech product is going to break, it will almost always break quickly - that is the nature of electronics. Bad solder joints, defective component, etc - they will generally show up right away while they're under warranty. The failure rate drops down until you get out to about 6 or 7 years (generally speaking) then rises... the chart looks like a bathtub...
tip - the worst thing you can do to your electronics is turn them on and off often. this is what can wear them out - heating up/expanding - cooling off/contracting... the best example is a light buld. when does it almost always burn out? right when you turn it on. a friend of mine had been a tv/appliance repairman earlier in his life - when i'd turn on his tv at his house, he'd always tell me to leave it on and he'd turn it off at the end of the day. of course, i won't even touch the issue of electricity use...
Of course, it's been pointed out, that if you can buy it cheap enough, it might be worth it. Someone mentioned they purchased a two or three year warranty from Sam's club for $70 on an HDTV - for that price, I'd probably be tempted as well. You are essentially purchasing insurance - VERY EXPENSIVE insurance. Check with your credit card company, some offer extended warranties if you use their card to purchase the item.
Japanese cars are better but...
by RustyDallas - 7/21/07 10:08 AM In reply to: Bad financial advice by woodyggYou didn't need a better warranty but you paid a substantially higher price for the car up front, so either way, you insured yourself against breakdown expense. Don't know if you financed or not but if you did, that premium was the very last thing you paid off. So, don't forget the interest add in. You may have paid cash but most don't.
Rusty
i only buy
by woodygg - 7/21/07 10:11 AM In reply to: Japanese cars are better but... by RustyDallasused... and that i get wholesale at the dealer auctions.. and i pay cash. (my friend owns a number of dealerships so i'm able to get in to the auctions). i save a boat load of money.
I know
by RustyDallas - 7/21/07 10:20 AM In reply to: i only buy by woodyggThat's how I got my Lincolns too (my only access was to Ford dealer auctions) but that's irrelavant to the warranty issue unless you can only buy Japanese from the auctions and not American cars. My points are stil valid. You and me may have special access to purchased items and may be able to pay cash but most of the people on this board are probably not in our special circumstances.
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