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Author	Topic: Five Reasons Not To Buy An Extended Warranty	Post a Reply Back to Topics

GasPasserAB Champion Author Edmonton Posts:25,085 Points:891,100 Joined:Apr 2010	Message Posted: Nov 17, 2012 1:57:53 PM Ignore GasPasserAB Report Abuse When you're buying a car, a home or an appliance, more than likely you'll be pressured to buy a service contract, or "extended warranty," as part of the purchase. The warranty, you'll be told, covers repairs not covered by the manufacturer's warranty, or will extend coverage after the manufacturer's warranty expires. But is this really true? Are extended warranties a good buy? Companies selling them insist that they are, claiming they save consumers hundreds, even thousands, of dollars in costly repairs. But consumers filing complaints with ConsumerAffairs.com tell a different story. Judging from the seemingly countless complaints we've received, there are five good reasons why consumers shouldn't buy the extended warranty. 1. They Usually Cost More Than They're Worth "I went to Offi Visit Consumer Affairs News for full article

GasPasserAB

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Message Posted: Nov 17, 2012 1:57:53 PM

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When you're buying a car, a home or an appliance, more than likely you'll be pressured to buy a service contract, or "extended warranty," as part of the purchase. The warranty, you'll be told, covers repairs not covered by the manufacturer's warranty, or will extend coverage after the manufacturer's warranty expires.

But is this really true?

Are extended warranties a good buy? Companies selling them insist that they are, claiming they save consumers hundreds, even thousands, of dollars in costly repairs. But consumers filing complaints with ConsumerAffairs.com tell a different story.

Judging from the seemingly countless complaints we've received, there are five good reasons why consumers shouldn't buy the extended warranty.

1. They Usually Cost More Than They're Worth

"I went to Offi
Visit Consumer Affairs News for full article

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TheRedFez Veteran Author Las Vegas Posts:341 Points:115,155 Joined:Sep 2005	Message Posted: Nov 22, 2012 6:09:04 PM Ignore TheRedFez Report Abuse Worthwhile advice.
LetemEatCake Champion Author Oklahoma City Posts:5,615 Points:1,207,555 Joined:Mar 2008	Message Posted: Nov 19, 2012 9:50:20 PM Ignore LetemEatCake Report Abuse Excellent article! Thanks for posting GasPasserAB!
DanMtz Champion Author Oakland Posts:3,370 Points:1,246,350 Joined:Oct 2009	Message Posted: Nov 19, 2012 8:08:34 PM Ignore DanMtz Report Abuse Everyone should know this.
Snowchoux Champion Author Missouri Posts:1,003 Points:145,635 Joined:Sep 2012	Message Posted: Nov 19, 2012 10:40:21 AM Ignore Snowchoux Report Abuse They cover part of your regular warranty. I don't like to pay twice.
eschroth442 Champion Author Cleveland Posts:1,094 Points:335,670 Joined:Nov 2011	Message Posted: Nov 19, 2012 10:27:32 AM Ignore eschroth442 Report Abuse not worjth the paper they are printed on.
Sneakers55 Champion Author Houston Posts:51,375 Points:2,146,385 Joined:Nov 2005	Message Posted: Nov 19, 2012 6:50:08 AM Ignore Sneakers55 Report Abuse I'm glad I got AppleCare+ on my iPhone 4S. I've used both incidents of accidental damage repair and could use a third. I'm going to get it on my next iPad as my BFF damaged one of my old ones.
Bonanza Champion Author Boston Posts:12,105 Points:2,553,930 Joined:Jun 2004	Message Posted: Nov 19, 2012 5:33:26 AM Ignore Bonanza Report Abuse Never bought one
heydano67 Champion Author California Posts:1,686 Points:361,435 Joined:Feb 2012	Message Posted: Nov 19, 2012 4:56:49 AM Ignore heydano67 Report Abuse You need to judge for yourself if the price would be worth it, based on your past experience with whatever you're buying it for.
millerin Champion Author Orlando Posts:2,327 Points:485,140 Joined:Jan 2012	Message Posted: Nov 19, 2012 12:56:33 AM Ignore millerin Report Abuse hmm...
greatartiste All-Star Author New Jersey Posts:540 Points:105,810 Joined:Apr 2011	Message Posted: Nov 19, 2012 12:34:24 AM Ignore greatartiste Report Abuse I will never buy one again on a car or electronics...
MAC48 Champion Author Dallas Posts:1,551 Points:769,545 Joined:Dec 2006	Message Posted: Nov 18, 2012 10:05:52 PM Ignore MAC48 Report Abuse Extended warranties only make sense for very expensive acquisitions such as a new or manufacturer certified used automobile. The number one rule of thumb is do not buy an extended warranty from any entity that is not the original equipment manufacturer and only if that manufacturer is a large corporate entity that has been around for many years and expects to be around for many more years. For example, if you buy a Ford pickup, van or car only buy an extended warranty that is sold by the Ford Motor Company itself. Do not ever buy an extended warranty form any company that is only in the business of selling and servicing the extended warranties that they sell or from any retailer to include non-OEM extended warranties sold by car dealerships.
lesndave Champion Author Texas Posts:3,057 Points:704,305 Joined:May 2011	Message Posted: Nov 18, 2012 9:59:56 PM Ignore lesndave Report Abuse Just don't do it
exyouen Veteran Author Philadelphia Posts:322 Points:403,765 Joined:Jul 2011	Message Posted: Nov 18, 2012 9:16:57 PM Ignore exyouen Report Abuse they wouldnt offer it to you if they didnt make money off of it
springer03 Champion Author Raleigh Posts:1,329 Points:595,630 Joined:May 2011	Message Posted: Nov 18, 2012 5:32:18 PM Ignore springer03 Report Abuse Most are
TruthMatters Champion Author New Jersey Posts:2,525 Points:536,460 Joined:Oct 2011	Message Posted: Nov 18, 2012 5:29:39 PM Ignore TruthMatters Report Abuse I don't need five reasons to not buy. I just know it is something that is not needed at all!
leraar2 Champion Author Massachusetts Posts:3,779 Points:790,605 Joined:Mar 2011	Message Posted: Nov 18, 2012 2:36:29 PM Ignore leraar2 Report Abuse the usual ripoff.
Skunk63 Champion Author Phoenix Posts:2,567 Points:561,220 Joined:Oct 2011	Message Posted: Nov 18, 2012 12:33:41 PM Ignore Skunk63 Report Abuse Ripoff.
WalkingWV Champion Author West Virginia Posts:3,701 Points:779,595 Joined:May 2008	Message Posted: Nov 18, 2012 12:17:23 PM Ignore WalkingWV Report Abuse I never buy those things either.
The_DR Champion Author New Jersey Posts:2,800 Points:588,090 Joined:Aug 2011	Message Posted: Nov 18, 2012 12:06:48 PM Ignore The_DR Report Abuse I never buy those things.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Nov 18, 2012 9:58:16 AM Ignore eomc17 Report Abuse The scammers are out for your dollars. I never liked "extended warrantees" anyway.
bwatchingu Champion Author Arkansas Posts:1,755 Points:604,445 Joined:Jan 2009	Message Posted: Nov 18, 2012 9:32:57 AM Ignore bwatchingu Report Abuse interesting
oilfreak All-Star Author Houston Posts:687 Points:36,885 Joined:Oct 2012	Message Posted: Nov 18, 2012 9:11:16 AM Ignore oilfreak Report Abuse Extended warranties only work on certain items.
derKraut Champion Author Ontario Posts:2,098 Points:1,230,060 Joined:Dec 2008	Message Posted: Nov 18, 2012 8:44:48 AM Ignore derKraut Report Abuse I buy the extended warranty ONLY from the dealer.
EvergreenON All-Star Author Ontario Posts:952 Points:486,370 Joined:Apr 2011	Message Posted: Nov 18, 2012 8:39:18 AM Ignore EvergreenON Report Abuse Still the same
benjy Champion Author Chicago Posts:8,609 Points:1,791,460 Joined:Nov 2003	Message Posted: Nov 18, 2012 8:28:37 AM Ignore benjy Report Abuse so true...
blupupher Champion Author Houston Posts:3,571 Points:751,295 Joined:Feb 2011	Message Posted: Nov 18, 2012 8:26:12 AM Ignore blupupher Report Abuse old story but still a good reminder about auto warranties.
greatartiste All-Star Author New Jersey Posts:540 Points:105,810 Joined:Apr 2011	Message Posted: Nov 18, 2012 8:11:19 AM Ignore greatartiste Report Abuse This story is from 2005! WTF?
Straitliner Champion Author Illinois Posts:1,520 Points:241,200 Joined:Sep 2012	Message Posted: Nov 18, 2012 7:44:12 AM Ignore Straitliner Report Abuse It depends on what you are buying.
altonb1 Champion Author Pennsylvania Posts:9,351 Points:1,524,470 Joined:Jul 2005	Message Posted: Nov 18, 2012 7:36:19 AM Ignore altonb1 Report Abuse I have purchases extended warranties on my laptops--and they have paid off. I have 2 laptops in my household that had accidental damage--and they were paid out at full value. I highly recommend anyone interested in a warranty check out squaretrade.com. My warranty cost about $60 and paid out $300 (the total cost of my laptop--on sale) so it was well worth it. Especially since the damage was caused by my daughter spilling a drink on it about 2 months after purchase.
medic6133 Champion Author New York Posts:1,120 Points:218,215 Joined:May 2012	Message Posted: Nov 18, 2012 7:27:42 AM Ignore medic6133 Report Abuse Essentially: read the fine print & research both the product and the warranty before plunking down the extra cash.
BBopp Champion Author Dayton Posts:6,854 Points:1,941,380 Joined:Dec 2006	Message Posted: Nov 18, 2012 7:23:38 AM Ignore BBopp Report Abuse I have always felt that if a product is decent, an extended warranty/service contract is unnecessary. This was a very good article and I hope those that read it, think long and hard before purchasing an extended warranty.
FPLREP Champion Author Virginia Posts:8,277 Points:2,451,175 Joined:Oct 2005	Message Posted: Nov 18, 2012 6:50:08 AM Ignore FPLREP Report Abuse If I do not have enough faith in the product that I feel the need to buy an extended warranty, then I do not need the product.
werich44 Champion Author California Posts:1,872 Points:471,855 Joined:Jun 2011	Message Posted: Nov 18, 2012 6:29:03 AM Ignore werich44 Report Abuse I had an extended warranty that actually saved me money. But I don't believe that is the norm.
flyank Veteran Author Miami Posts:358 Points:267,150 Joined:Jun 2009	Message Posted: Nov 18, 2012 6:26:07 AM Ignore flyank Report Abuse Never did get one.
skippypa Champion Author Hawaii Posts:8,491 Points:1,743,855 Joined:Jun 2008	Message Posted: Nov 18, 2012 6:11:18 AM Ignore skippypa Report Abuse Ok
angel4me Champion Author San Jose Posts:2,814 Points:796,045 Joined:Dec 2010	Message Posted: Nov 18, 2012 4:04:55 AM Ignore angel4me Report Abuse maybe on foreign cars........
GasHunter0007 Veteran Author California Posts:289 Points:171,375 Joined:Oct 2012	Message Posted: Nov 18, 2012 2:39:22 AM Ignore GasHunter0007 Report Abuse If it's a car - get a reliable, dependable car that comes with a good warranty in the first place. Then, you don't need the extended warranty.
gumbyrex Champion Author Fresno Posts:3,321 Points:762,440 Joined:Mar 2011	Message Posted: Nov 18, 2012 1:45:00 AM Ignore gumbyrex Report Abuse Extended warranties are a money maker for the company selling the product. I have never purchased one and with 20-20 hindsight I don't regret it.
bston Champion Author Oklahoma City Posts:1,835 Points:645,200 Joined:Mar 2011	Message Posted: Nov 18, 2012 1:16:56 AM Ignore bston Report Abuse Extended warranties are a money making scheme!
Melinda205 Champion Author Alabama Posts:1,855 Points:362,815 Joined:May 2012	Message Posted: Nov 18, 2012 1:10:42 AM Ignore Melinda205 Report Abuse Okay
kkimes Champion Author Illinois Posts:1,609 Points:1,509,040 Joined:Sep 2005	Message Posted: Nov 18, 2012 1:02:18 AM Ignore kkimes Report Abuse Of course, people could say the same thing about health insurance. You could pay into it all you life and not need it until the very end. So it boils down to the question "how much is peace of mind worth"? I bought it for our 2012 Toyota Camry Hybrid. But then I'm planning to keep it as long as I'm around so I think it will be worth it to me.
Amplion Champion Author Oregon Posts:6,789 Points:1,869,060 Joined:Sep 2005	Message Posted: Nov 18, 2012 12:51:36 AM Ignore Amplion Report Abuse IF YOU THINK THAT YOU NEED AN EXTENDED WARRANTY, THEN YOU KNOW THAT YOU JUST BOUGHT THE WRONG BRAND AUTOMOBILE !!!!!
millerin Champion Author Orlando Posts:2,327 Points:485,140 Joined:Jan 2012	Message Posted: Nov 18, 2012 12:35:51 AM Ignore millerin Report Abuse great
danindenver Champion Author Denver Posts:5,504 Points:1,241,610 Joined:May 2005	Message Posted: Nov 18, 2012 12:19:26 AM Ignore danindenver Report Abuse When I got to the part about Circuit City, I checked the date and found that this article is from 2005. Aren't there any more recent articles I could waste my time reading?
Blue_Cruzer Champion Author Lexington Posts:7,540 Points:1,673,585 Joined:Mar 2007	Message Posted: Nov 18, 2012 12:19:14 AM Ignore Blue_Cruzer Report Abuse Interesting.
MrLefty0706 Champion Author Chicago Posts:1,464 Points:355,085 Joined:Apr 2012	Message Posted: Nov 18, 2012 12:14:34 AM Ignore MrLefty0706 Report Abuse Good advice. Thanks for sharing.
7SPEEDY7 Champion Author Flint Posts:1,301 Points:609,225 Joined:May 2011	Message Posted: Nov 18, 2012 12:12:39 AM Ignore 7SPEEDY7 Report Abuse So TRUE!!!
lesndave Champion Author Texas Posts:3,057 Points:704,305 Joined:May 2011	Message Posted: Nov 18, 2012 12:11:11 AM Ignore lesndave Report Abuse Good article. Sometimes they're worth it, but you have to be really careful.
N5EXY Champion Author Austin Posts:5,512 Points:1,513,480 Joined:Jul 2004	Message Posted: Nov 18, 2012 12:09:34 AM Ignore N5EXY Report Abuse About the only time I even consider an extended warranty is if I buy a "refurbished" unit and the refurb must be at a substantial savings, or, something that I don't expect to use very much or very long. I suppose it would affect gas prices but I never heard of extended warranty on a gallon of gasoline. [Edited by: N5EXY at 11/18/2012 12:12:00 AM EST]
rahcat Champion Author Grand Rapids Posts:2,488 Points:666,200 Joined:Jan 2010	Message Posted: Nov 18, 2012 12:03:55 AM Ignore rahcat Report Abuse Interesting