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Home audio & video: Extended Warranty.........are they worth it????
Maybe Yes and Maybe Not
by justplainwayne - 12/5/07 5:21 PM In reply to: Extended Warranty.........are they worth it???? by jraggieUsually if I am buying a printer, computer or techie kind of item I do not purchase a warranty, If anything is going to happen it will within the mfg warranty, or by the time it happens it may be better to replace than repair.
But here is one, I purchased a microwave for about $150.00 and I bought a 4 year extended warranty, betting that something would go wrong and the life expectancy is pretty long on this item. After 3 years the keypad went out and it was replaced at no charge; one year later the keypad went out again and they took it back. Now here is the interesting part when I went to pick it up the counter person said did the unit look loke this when I dropped it off; it looked like an elephant sat on it, so I said no. They took the oven and we are still without a microwave after 2 months and are awaiting the insurance carrier to either replace or fix our unit.
Large ticket items and items with life expectancy of 3-4 years and you want to use it longer get the warranty. Small appliance and computer stuff that has only a couple years of life do not bother.
I agree with the Murphy's Law rule on this one...
by tnl0916 - 12/5/07 5:21 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI purchased a car stereo back in 2004 and chose not to purchase the extended warranty. My excuse was well, they're cheap enough so when I need a new one, which shouldn't be for at least 3 or more years. Well, the it started acting a little wierd about 6 months in and I wrote to the manufacturer since they do guarantee the product for a year. Then I would have to take it out send it to them blah, blah blah and it wasn't worth that much aggrevation. Depending on the item, especially those big ticket items, i.e. HDTVs, it's a good investment.
YES BY ALL MEANS YES
by Evayy - 12/5/07 7:52 PM In reply to: I agree with the Murphy's Law rule on this one... by tnl0916THere are so many sites on interent that have a no return policy on the net on big items and you are so screwed if something is wrong with unit.
Case point bought a toshiba 32lcd hlc56 love the tv however a bad hum developed which distorted the sound. Because i had a warrenty i was albe to get the part replaced and fixed FREE sears.
Had an mp3 player go out on me less then a year because of the replacement warrenty tiger direct scored
had a new one shipped to me in less then a month problem solved.
I have seen over and over on high definition fourms, of folks spending 2000 + on a tv they did not get the warrenty for and it cost more to get it fixed then picking up a cheaper end tv.
With that stated understand who you are doing business with if they stand behind their products. Understand the down side of buying refurbised products, and remember cc or bb or sears is not the only place you can get extended warrenties from!
Please no matter how great that new toy you just got , remember a year and a day from now if something happens and how bad you will feel if something goes horribly wrong.
Don't forget those dropped pda's cell phones too accidently washed it or dropped it or other.
Just keep in mind who you do business with as well.
Price is so so so important
by LionsMike - 12/5/07 9:27 PM In reply to: YES BY ALL MEANS YES by EvayyFour years ago I bought a home entertainment center for $289.00. It came with a 1 year free warranty and I purchased a 3 year extension for $39.00.
A month ago they sent me an offer to extend that warranty for an other 3 years for just $633.00
I just did not think it was wort it. I called and offered to sell them my 4 year old unit for just $422.00 so that I could go out and buy a brand new one with 4 years of warranty and spend the rest of the money on a good dinner.
absolutely
by amadeo_m - 12/5/07 5:23 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI would never buy a big ticket item without the extended warranty. Over the past few years I have used an extended warranty to replace a PS2, a 50 inch Sony TV, a digital camcorder, and a vacuum cleaner with no additional out of pocket expense. Very much worth the few extra dollars if you ask me.
Only if its free!
by sspires - 12/5/07 5:23 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI once bought the extended warranty on a car stereo. Unfortunately, the stereo was stolen before the extended warranty would have applied. A complete waste of money!
On the other hand, I purchased one for a stereo receiver when the salesman offered to give me an equal dollar amount of videotape, that I would definitely use. Since that receiver was (at the time) new technology, it had a myriad of problems during the extended warranty period. The free repairs never totally fixed it, but they kept it going an extra couple of years.
Don't purchase the extended warranty at purchase
by pebear - 12/5/07 5:25 PM In reply to: Extended Warranty.........are they worth it???? by jraggieThere are a host of companies that sell both extended warranties and service plans besides the local retail outlets that you may purchase products from. GE sells both extended warranties and service plans. I like a company that works through eBay but not exclusively through ebay called "Square Trade". You purchase your gizmatron and you take the reciept then research extended warranties and service plans online and find the best deal for the best price. Usually purchasing extended warranties and services plans at the point of sale are the most expensive options. Don't let the customer service representative at your local retail outlet pressure you into the decision.
There are even companies that offer complete service plans for all household appliances that you may own, no matter the age. You can even purchase extended warranties and service plans on used vehicles.
Extended warranties are an extention of the manufacture's warranty usually for a period of time either 1 or 2 years. A service agreement agrees to perform periodic maintance along with warranty replacement of apliances or devices.
Also you need to determine a couple thing. If gizmatron breaks can I fix it? And at what cost? If you are electromagnetically inclined then these things become less important to you. If the gizmatron is an expensive and very complicated item then I would recommend looking into some sort of extended warranty or service plan. Remember it's like an insurance policy. You purchase it for piece of mind and hope to never really cash in on it.
One more note Do not ever subscribe to a cell phone carrier's service plan on a telephone. They charge you 5 dollars a month for this plan and you could go to a company and get a 2 year extended warranty for probably 5 to 15 dollars. Be smart folks and do your homework then make your decision.
Don't ever purchase an extension or service plan on a computer, they are too easy to fix and Mobo's and peripherals are cheap the the price on them go down exponentially from the date of purchase. Also not in a computer many of the separate components have their own separate warranties, a Seagate HD may be warrantied for 5 years or so a NEC DVD ROM burner, that only costs 35 retail or so has a 1 year warranty, even the memory has it's own warranty. Infenion or Kingston that you may find in many brands of PC's have unlimited warranties, Video Cards carry at least a 1 year warranty. So you see do your homework and learn to fix stuff yourself and save yourself money.
Take an IPOD. I buy broken IPOD's on Ebay and I fix them for pennies and give them to family members. If the HD breaks I exchange it under warranty same with the new screen that may be purchased.
It Depends On The Extended Warranty
by westrajc - 12/5/07 5:28 PM In reply to: Extended Warranty.........are they worth it???? by jraggieExtended warranties are like any other form of insurance. Some policies are worth the money, even though they have a high monthly or yearly premium. It depends on the level of risk you are willing to absorb.
We have clients who work all day getting in and out of their cars with tablet PC's. We recommended they purchase these units with the extended warranty, offered by the national reseller, that would guarantee replacement for any type of problem, including a cracked screen, resulting from a drop.
So far, after totaling the cost of the insurance for three years, for all their units and subtracting what they would have had to pay for two that have been completely replaced, compared with the cost of replacing the units out of pocket and they are about $180 ahead, with a year to go on the warranty. The batteries have started to go on three more of the units, which will be replaced under warranty too, meaning that by the end of the three year warranty period, having the warranty should save them over $500.00!
At the other end of the spectrum is the Grandma who's going to live in a largely dust, vibration and child-free environment and will likely never download a rogue program or dump her desktop over during a drunken frat party. For someone like this to get a "cover everything" extended warranty is crazy.
Like everything else in life... Create a matrix of features you need and the possible vendors who can supply a solution. See which vendor(s) meet/exceed the needs, have the best reputations and cost the least. Give them a chance to win your business and you'll likely walk away with exactly what you need and not have to pay too much.
Use them sparingly
by seannaak - 12/5/07 5:28 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI usually bypass them as sham especially when it comes to electronics that outdate faster than shelflifes BUT in one case when I bought an extremely expensive digital SLR I accidentally caved and bought the extended MACK warranty. I regretted it until more than TWO years later the shutter curtain fell apart and I reluctantly tried it out. They were amazing - took the camera without question, repaired and shipped it back like new. All along the way I expected problems... delays in shipping, delays in repair, some hidden cost. None of those. From now on if I'm buying expensive gear that I know I won't replace in less than five years and it's a small fraction of the cost to replace I really consider it. Especially a MACK extended ...
Extended warranties? Normally not a good idea.
by Shortline - 12/5/07 5:28 PM In reply to: Extended Warranty.........are they worth it???? by jraggieThe reason that sales people push the extended warranties is that they are extremely profitable for the seller. The clerks often receive a payment for selling them. They are so profitable because they are rarely used. As a result, I never buy the extended warranty on anything. And so far, nothing that I have purchased gave out during what would have been the extended warranty had I bought it, so I saved money by not buying.
On the other hand, if buying an extended warranty gives you peace of mind, it may be worth it to you. I just don't advise it.
extended warranties
by ubudeco - 12/5/07 10:28 PM In reply to: Extended warranties? Normally not a good idea. by ShortlineI purchased a Dell 700 a year ago and I would be completely out of luck if I had not gotten an extended warranty. Since I got it the hard drive, processors, video card and motherboard have had to be replaced. With a high end computer they frequently do not know what is causing problems and have to replace many items. Diagnostics are not always helpful. And of course with a PC, Microsoft is causing its own set of issues and masking potential hardware problems. So if you do get a high end PC, I recommend a warranty.
Extended warranty? It all depends...
by BlueKnight - 12/5/07 5:28 PM In reply to: Extended Warranty.........are they worth it???? by jraggieI'm never "blindsided" by the sales pitch for extended warranties, I expect the sales person to go off on that line. The difference between me and many other shoppers, is that I do all the homework I can on the item I'm buying before I ever set foot inside the store.
Do your homework first... read everything you can about what it is you intend to purchase. Read as many reviews by those who bought it posted at epinions.com, yelp.com and other forums. Read Consumers' Reports articles on the item... if you subscribe, it usually pays for iteself here and it's interesting and informative even when you're not out to buy something.
Having done all your homework, you should have a pretty good idea if the item you're considering is a piece of junk or not. If it is, why would you still consider it? Did previous purchasers end up happy, or did they have complaints. If there were complaints about the product, was it just one person with a thorn stuck where the "sun don't shine," or were there several complaints about the same thing.
Consider all the complaints, the seriousness of them (could you live with it or not?), and how did each reviewer come across. If reviewers seem like they have an axe to grind, I generally place less credence on them and pay attention to the rest.
When you get in the store to make your purchase, you should now be able to do it with a fair amount of confidence, and you should have a pretty good idea of how that item will suit you.
If you're still not really sure about getting an extended warranty or not, consider the cost of that warranty, taking into account the user reviews you've read and how much the unit cost to buy. Also, you need to be sure that extended warranty will actually cover whatever is most likely to fail after the manufacturer's warrant expires. Consider the cost vs the benefit.
I've never bought one and I don't intend to start now. I was tempted once... extending the warranty on my 2004 BMW 325. Extending the service portion would have provided free routine service for a couple more years but the cost was in excess of $2,000. I don't put enough miles on the car to make it worthwhile. The other option was to extend the warranty to cover everything (as if the car were a certified pre-owned) which would cover everything for 4 more years or to 100,000 miles as I recall at a cost exceeding $3,000. If a clutch goes, it costs about $1700. I'm highly unlikely to need another clutch since it's already been replaced under warranty (they only last 35K miles or so). It's a balancing act. The benefit didn't exceed the cost, so I didn't buy it. The car is rock solid anyway.
But I digress...
Consider how good the product is, what the experience of other reasonable people who bought it was, and make your decision. I'll bet you end up telling the salesperson "no thanks."
Extended Warranty
by chloe961 - 12/5/07 5:29 PM In reply to: Extended Warranty.........are they worth it???? by jraggieWe purchased a warranty with our Sony HDTV 2 years ago for $200 for 5 years. We have already gone thru 3 lamps one of which we were told would have cost near $1000. The warranty is certainly worthwhile. Just wondering what you should do with the tv after the warranty expires...dump the tv when something goes wrong? Repairs are certainly expensive.
Extended Warranties
by ProToolsGeek - 12/5/07 5:29 PM In reply to: Extended Warranty.........are they worth it???? by jraggieIt depends what I'm buying. I had one for a Dell computer, and the repair guy practically lived here, and it was money well spent. But you have to be careful. Typically the first year or two on a TV, for instance, might already be covered and the first year is definitely a rip off. Things like camcorders might be worth it, but not a digital camera. I'm on my fifth digital camera, and all the old ones still work. If you buy a Panasonic combo DVD burner/hard drive BUY an extended warranty because these things crap out all the time it seems.
Having sold high end audio in the past, these extended warranties were indeed a profitable item.
don't buy a non-manufacturer warranty
by nobleserf - 12/5/07 5:29 PM In reply to: Extended Warranty.........are they worth it???? by jraggieGenerally speaking... I would not suggest the purchase of an extended warranty on any electronics item or appliance. But, my position is starting to change ... especially after seeing the poor quality of components and manufacturing that is going into the new equipment.
A few months ago, I ordered a new HP laptop... dv6255us... had it built to my specs. After about 6 months, HP had to replace the a/c adapter. After 8 months, HP had to replace the battery. And now, ten months into ownership, I'm going to have to send the machine in to have the screen replaced under warranty.
Obviously... if I had to pay for this work outside of warranty... I'd be deep in the red.
I have the option of extending my warranty on the laptop up until the day that the original warranty expires. As you can bet... I'll be doing just that. HP wants to charge me $170 for an additional year.. or $270 for two additional years of coverage. As I see it... the extended warranty is likely going to be a bargain. I figure that my keyboard and mouse buttons will be shot within another 6 months. (I use the laptop 12 hours a day). And, I don't expect the battery to last any longer than the last one did. And, I certainly can't expect the a/c adapter to last beyond a year... based on my prior experience.
Contact your computer's manufacturer... see what they can do for you.
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